🔹 Adj. EPS: $0.63 (Est. $0.52) 🟢
🔹 Revenue: $38.6B (Est. $38.03B) 🟢; +4.1% YoY
🔹 US Healthcare Sales: $2.15B (Est. $2.27B) 🔴
🔸 Withdrew FY25 Guidance due to pending acquisition by Sycamore Partners
🔹 Merger expected to close in Q4 CY25; WBA will go private
🔸 No FY25 call or webcast held
Segment Performance (Q2 FY25)
U.S. Retail Pharmacy:
🔹 Sales: $30.4B (+5.3% YoY)
🔹 Comparable Rx Sales: +12.2%
🔹 Retail Sales: -5.5%; Comp Retail Sales: -2.8%
🔹 Adj. Op. Income: $487M (↓35% YoY)
International:
🔹 Sales: $6.06B (+0.6% YoY; +4.1% CC)
🔹 Boots UK Comp Pharmacy Sales: +5% CC
🔹 Boots UK Comp Retail Sales: +5.1% CC
🔹 Adj. Op. Income: $234M (↓4.7% YoY)
U.S. Healthcare:
🔹 Sales: $2.15B (↓1% YoY)
🔹 VillageMD Sales: -6.2%
🔹 Shields Sales: +29.7%
🔹 Adj. Op. Income: $117M (vs. loss of $34M YoY)
🔹 Adj. EBITDA: $158M (↑$140M YoY)
Profitability and Cash Flow
🔹 GAAP EPS: $(3.30) (includes $4.2B in impairment charges)
🔹 Adj. Net Income: $543M (↓47.6% YoY)
🔹 Adj. Op. Income: $785M (↓12.8% YoY)
🔹 Operating Cash Flow: $(199)M (improved YoY despite $969M in legal settlements)
🔹 Free Cash Flow: $(418)M (↑$192M YoY)
Management Commentary
“We remain in the early stages of our turnaround... cost discipline and U.S. Healthcare gains were offset by front-end softness and legal settlements.”
— Tim Wentworth, CEO