Walgreens Boots Alliance Revenue & Financials

Walgreens Boots Alliance reported consolidated net sales of approximately 147.7 billion dollars for fiscal year 2024, which ended August 31, 2024. This represented a modest decline from the 139.1 billion dollars reported in fiscal 2023 when adjusted for the full-year contribution of Alliance Healthcare. The U.S. Segment generated approximately 116.8 billion dollars, the international segment contributed roughly 6.2 billion dollars, and the U.S. Healthcare segment added approximately 2.1 billion dollars. The company reported a net loss attributable to WBA of approximately 8.6 billion dollars in fiscal 2024, driven primarily by multi-billion dollar goodwill impairment charges related to the U.S. Healthcare segment — principally VillageMD — and opioid litigation settlement accruals. Adjusted earnings per share, which strip out these non-cash charges and one-time items, came in at approximately 2.88 dollars for fiscal 2024, a figure that still represented a meaningful decline from prior years. Gross profit margins have been under consistent pressure, declining from approximately 20 percent of revenue in fiscal 2019 to approximately 17 percent in fiscal 2024, driven by the pharmacy reimbursement compression described throughout this profile. Selling, general, and administrative expenses have grown as a percentage of revenues, partly due to healthcare services buildout costs, further squeezing operating margins. The company's long-term debt stood at approximately 8.5 billion dollars as of August 2024, and the subsequent dividend cut — from 48 cents per quarter to 25 cents — signaled the severity of the financial constraints. The potential Sycamore Partners acquisition, if completed, would likely value the company at a significant premium to its recent trading price but well below the company's historical market capitalization, crystallizing the destruction of shareholder value that has accumulated since 2015.