Walgreens Boots Alliance (WBA) reported financial results for fiscal year 2024, with sales increasing by 6.2% to $147.658 billion compared to the previous year. However, the company faced a net loss of $8.636 billion, a significant increase from the prior year's loss of $3.080 billion. This loss was attributed to a $12.4 billion non-cash impairment charge related to VillageMD goodwill, among other factors. The diluted net loss per common share was $10.01, up from $3.57 in the previous year. Despite these challenges, WBA continued to pay quarterly dividends, a practice since 1933, although the dividend was reduced by 48% to 25 cents per share as part of a strategic review. The company also completed the sale of Cencora common stock, generating approximately $2.7 billion. In terms of business development, WBA...Show More

Walgreens Boots Alliance (WBA) reported financial results for fiscal year 2024, with sales increasing by 6.2% to $147.658 billion compared to the previous year. However, the company faced a net loss of $8.636 billion, a significant increase from the prior year's loss of $3.080 billion. This loss was attributed to a $12.4 billion non-cash impairment charge related to VillageMD goodwill, among other factors. The diluted net loss per common share was $10.01, up from $3.57 in the previous year. Despite these challenges, WBA continued to pay quarterly dividends, a practice since 1933, although the dividend was reduced by 48% to 25 cents per share as part of a strategic review. The company also completed the sale of Cencora common stock, generating approximately $2.7 billion. In terms of business development, WBA focused on optimizing its U.S. footprint, closing underperforming stores, and investing in customer and patient experience improvements. Looking ahead, WBA plans to strengthen its core retail and specialty pharmacy business, leverage capital-efficient businesses, and expand business partnerships. The company is also evaluating options for VillageMD, including potential sales or restructuring, to address its substantial cash requirements. WBA's future plans include a multi-year U.S. Footprint Optimization Program, investments in U.S. Retail Pharmacy, and a focus on monetizing non-core assets to generate cash flow.