Walgreens Boots Alliance, Inc. (NASDAQ:WBA) today announced financial results for the fourth quarter.
The chain, based in Deerfield, Ill., reported Q4 sales increased 1.5% to $34.0 billion, up 2.6% on a constant currency basis. Operating income decreased 37% to $878 million. Adjusted operating income decreased 11.9% to $1.6 billion, down 11.1% on a constant currency basis.
Earnings per Share decreased 51.4% to $0.75; Adjusted EPS decreased 3.7% to $1.43, down 2.9% on a constant currency basis.
CEO Stefano Pessina said, "We are pleased to report fiscal 2019 results in line with our previously stated guidance despite a challenging operating environment. We are also making progress on our four strategic priorities, which we remain confident are positioning us to deliver long-term growth.
"While we still face headwinds, I am encouraged by the improvement in U.S. comparable sales performance in the second half of fiscal 2019 and our progress in managing costs in order to save to invest to grow."
Net cash provided by operating activities was $2.4 billion in the fourth quarter, a decrease of $439 million from the same quarter a year ago. Free cash flow was $1.9 billion, a decrease of $510 million versus the same quarter last year.
The company today introduced guidance of roughly flat growth in fiscal 2020 adjusted earnings per share at constant currency rates, with a range of plus or minus 3%.
Excluding the impact of lower fiscal 2019 bonus payout, this expected performance represents a year-over-year increase in the mid-single digits.
Shares gained 86 cents, or 1.6%, to $56.28
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