Walgreens Boots Alliance, Inc. (NASDAQ: WBA) reported financial results for the third quarter. The company reported a net loss of USD 1.7 Billion with net earnings of 1 Billion in the prior year. Net earnings fell 45.9% to USD 723 Million. For fiscal 2020 year to date net cash on operating activities amounted to USD 3.4 Billion, a USD 183 Million increase from the same period last year. Walgreens Boots Alliance took numerous steps to improve financial flexibility, this includes securing USD 5.1 Billion of incremental facilities.
Executive Vice Chairman and CEO Stefano Pessina said, “Prior to the pandemic our financial performance for fiscal 2020 was on track with our expectations. However, this unprecedented global crisis led to a loss in the quarter as stay-at-home orders affected all of our markets. I’m very proud of how all of our teams mobilized and adapted to deliver essential services in our communities across the world. Shopping patterns are evolving more rapidly than ever as consumers further embrace digital options, spurring us to accelerate our ongoing investments in digital transformation and neighborhood health destinations. This includes our two recent announcements: a significant expansion of our primary care clinics collaboration with VillageMD, and our strategic partnership with Microsoft and Adobe to launch a personalized omnichannel healthcare and shopping experience.”
The company expects adjusted EPS guidance for fiscal 2020 to range from USD 4.65 to USD 4.75. This guidance includes estimated impacts from COVID-19 in the fourth quarter. The company’s board of directors declared a quarterly dividend of46.75 cents per share.