Delivering Strong Results and Progress on Strategic Priorities
First quarter highlights
- First quarter earnings per share (EPS*) from continuing operations was $4.13, compared with a loss of $0.45 in the year-ago quarter; continuing operations adjusted** EPS increased to $1.68, up 53.1 percent on a constant currency basis
- First quarter sales from continuing operations increased 7.8 percent to $33.9 billion, up 7.6 percent on a constant currency basis
- First quarter operating income from continuing operations increased to $1.3 billion, compared with a loss of $535 million in the year-ago quarter; adjusted operating income from continuing operations increased to $1.8 billion, up 48.5 percent on a constant currency basis
- VillageMD and Shields majority investments closed on November 24th and October 29th, respectively
Strong operational performance
- Results surpassed expectations across business segments, driven by COVID-19 vaccinations and testing, U.S. retail comparable sales up 10.6 percent, and Boots UK retail comparable sales up 16.3 percent
- WBA continues to play a leading role in fighting the COVID-19 pandemic, with Walgreens administering over 56 million vaccines to date, including 15.6 million in the first quarter
- Transformational Cost Management Program is on track to deliver $3.3 billion in annual cost savings by fiscal 2024
Fiscal 2022 outlook
- Increasing full year adjusted EPS guidance to low-single digit growth, from flat previously, to reflect first quarter performance and continued positive momentum; now includes 2 percentage point impact from incremental investments in team members
- Outlook continues to include 4 percentage point negative impact from previously planned healthcare investments
DEERFIELD, Ill.- Jan. 6, 2022 – Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced financial results for the first quarter of fiscal 2022, which ended November 30, 2021.
Chief Executive Officer Rosalind Brewer said: “First quarter results exceeded our expectations, with a very encouraging performance across all our business segments. I am particularly excited about the progress we’re making in building out Walgreens Health. Our majority investments in VillageMD and Shields closed during the quarter, and we’re rolling out VillageMD primary care co-locations and Walgreens Health Corners at pace. The strong start to the fiscal year reinforces our confidence in the future, and as a result, we are raising our guidance for the full year and increasing investments in our people. Looking ahead, we are well positioned for sustainable, long-term value creation.”
