沃尔格林联合博姿(WBA)
搜索文档
Walgreens Boots Alliance(WBA) - 2024 Q4 - Earnings Call Transcript
2024-10-16 00:38
财务数据和关键指标变化 - 第四季度调整后每股收益下降41%,主要由于出售租回交易收益减少、上年度奖金准备金冲回以及Cencora股权收益下降 [18] - 全年调整后每股收益下降28%,主要由于零售药房业务表现疲软以及出售租回交易收益大幅下降,部分被成本节约措施和医疗保健业务利润改善所抵消 [20] 各条业务线数据和关键指标变化 - 美国零售药房业务: - 同店销售增长8.3%,其中药房同店销售增长11.7%,零售同店销售下降1.7% [21][23] - 药房调整后毛利率下降,受到净报销压力、品牌通胀和产品组合影响 [22] - 零售调整后毛利率有所改善,受益于产品组合向健康和保健类倾斜,但受到较高损耗水平的抵消 [23] - 国际业务: - 德国批发业务销售增长8.2%,英国Boots零售业务同店销售增长6% [24] - 整体调整后营业利润下降11%,主要由于去年同期有房地产收益 [24] - 美国医疗保健业务: - 销售增长7%,其中VillageMD销售增长7%,Shields销售增长28% [25] - 调整后EBITDA改善94百万美元,受益于VillageMD成本控制和Shields业务增长 [25] 各个市场数据和关键指标变化 - 美国市场: - 处方量同比增长2.6%,与整体市场增长保持一致 [22] - 疫苗接种量预计将略有下降 [33] - 英国市场: - Boots UK零售同店销售增长6%,线上销售占比增至15% [24] 公司战略和发展方向及行业竞争 - 公司将重新聚焦于零售药房为主的运营模式,利用消费者信任、便利性和相关性等关键资产 [8][9] - 公司将加速关闭约1,200家表现不佳的门店,以优化门店网络,提高门店质量和运营效率 [9][10] - 公司将调整商品策略,增加自有品牌占比,聚焦于健康和保健等领域 [11] - 公司将采取更加严格的财务纪律,专注于现金流的稳定性和适当的负债水平 [12][13] 管理层对经营环境和未来前景的评论 - 管理层认为消费者环境仍然充满挑战,预计消费者将保持价格敏感的购买行为 [29] - 公司将通过成本控制和门店优化等措施应对消费者环境的压力 [29] - 公司有信心通过与PBM的谈判,逐步改善药房报销压力,但这需要一个多年的过程 [14][15] - 公司将继续拓展获得药师执业资格和其他新的付费安排,以进一步稳定和改善整体药房经济 [16] 其他重要信息 - 公司为受到自然灾害影响的社区提供支持,包括通过与红十字会合作筹集善款以及直接捐赠 [17] - 公司将采取灵活和务实的资本配置策略,包括出售非核心资产以偿还债务 [36][37] 问答环节重要的提问和回答 问题1 **Lisa Gill 提问** 公司如何平衡与PBM的谈判以及是否会退出某些网络? [39] **Tim Wentworth 回答** 公司在2025财年将看到报销压力有所缓解,并与PBM合作引入更多稳定和可预测的报销机制。但如果无法达成合理的报销水平,公司将不得不做出艰难的决定,包括退出某些网络。公司的目标是尽可能为更多患者和社区提供服务,但同时也要确保自身获得合理的报酬。[40] 问题2 **Manmohan Mahajan 回答** 公司将通过多方面举措来改善营运资金,包括优化库存、应收账款和应付账款。此外,关店也将带来额外的营运资金改善。公司将继续关注各个环节的现金转换周期。[68] 问题3 **Tim Wentworth 回答** 公司将继续优化支持职能的成本,但不会大幅精简门店人员,因为门店员工是公司与消费者互动的关键。公司将专注于提升门店体验,同时通过关店等措施来消化相关的固定成本。[70]
WBA Stock Up on Q4 Earnings & Revenues Beat, Unveils Strategic Action
ZACKS· 2024-10-16 00:25
Walgreens Boots Alliance, Inc. (WBA) delivered adjusted earnings per share (EPS) of 39 cents in the fourth quarter of fiscal 2024, down 41.8% from the year-ago quarter’s figure (down 40.8% at constant exchange rate or CER). However, the figure topped the Zacks Consensus Estimate by 8.3%.GAAP loss per share for the fourth quarter was $3.48, wider than the year-ago quarter’s 21 cents loss.For the full year, adjusted EPS was $2.88, a 27.6% decline from fiscal 2023 (down 27.9% at CER). This exceeded the Zacks C ...
Walgreens Doesn't ‘Count on' Strong Consumer Spend for Q4
PYMNTS.com· 2024-10-16 00:07
文章核心观点 - 沃尔格林-布茨联盟正在进行一项以零售药房业务为中心的转型 [1] - 公司计划在未来三年内关闭约1,200家表现不佳的门店,以精简运营并提高盈利能力 [2] - 公司将2024财年定为基础性一年,专注于成本管理和运营效率,稳定核心零售药房业务,优化门店网络,调整报销结构 [3] - 公司正在探索新的产品组合,增加自有品牌的存在,扩大数字化产品,以满足不断变化的消费者偏好 [3] - 公司将利用其庞大的药房员工网络,维持与客户的紧密关系,并有效应对不断变化的需求 [3] 根据相关目录分别进行总结 公司业务现状及转型策略 - 公司正面临消费者支出环境和药房行业的持续挑战 [1] - 公司计划在未来三年内关闭约1,200家表现不佳的门店,以提高现金流和优化门店网络,集中于表现更好的门店 [2] - 公司将2024财年定为基础性一年,专注于成本管理和运营效率,稳定核心零售药房业务,优化门店网络,调整报销结构 [3] 公司应对措施 - 公司正在探索新的产品组合,增加自有品牌的存在,扩大数字化产品,以满足不断变化的消费者偏好 [3] - 公司将利用其庞大的药房员工网络,维持与客户的紧密关系,并有效应对不断变化的需求 [3] - 公司将通过管理资本支出和非核心资产的变现,来改善现金流和降低净债务 [4] 行业发展趋势 - 公司的转型举措与竞争对手Rite Aid和CVS采取的私有品牌/关店策略相似,以应对不断上升的医疗成本和疫后收入下降 [4] - 行业专家担忧零售药房的实体门店模式可能面临类似于Blockbuster和Hollywood Video的命运,而线上零售商如亚马逊可能成为新的"网飞" [6]
Why Walgreens Boots Alliance Stock Is Skyrocketing Today
The Motley Fool· 2024-10-15 23:51
文章核心观点 - 沃尔格林(Walgreens)计划在未来3年内关闭约1,200家门店,其中2025财年将关闭500家门店 [1][2] - 沃尔格林目前在美国拥有约8,700家门店,其中约四分之一是亏损的 [2] - 管理层认为关店计划将立即提升调整后的收益和自由现金流 [2] 财务数据总结 - 2022年第四季度销售额为375亿美元,同比增长6% [1] - 第四季度每股GAAP亏损3.48美元,调整后每股收益0.39美元,同比下降40.8%,但高于分析师预期的0.36美元 [1] 投资评级 - 大多数投资者目前可能会选择观望沃尔格林的股票 [3] - 但沃尔格林股票的市盈率仅为4.2倍,有望通过关店计划提升收益,对于寻求反转机会的积极投资者来说可能具有吸引力 [3]
Walgreen Boots Alliance plans to close 1,200 stores as annual losses double
Proactiveinvestors NA· 2024-10-15 22:39
About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...
Compared to Estimates, Walgreens (WBA) Q4 Earnings: A Look at Key Metrics
ZACKS· 2024-10-15 22:31
For the quarter ended August 2024, Walgreens Boots Alliance (WBA) reported revenue of $37.55 billion, up 6% over the same period last year. EPS came in at $0.39, compared to $0.67 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $35.74 billion, representing a surprise of +5.07%. The company delivered an EPS surprise of +8.33%, with the consensus EPS estimate being $0.36.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...
Walgreens Plans To Close 1,200 Stores Over Next Three Years
Investopedia· 2024-10-15 21:31
KEY TAKEAWAYSWalgreens Boots Alliance said Tuesday that it is shutting around 1,200 stores over the next three years, as the drugstore chain moves to turn around its troubled U.S. business.The chain said it would shut 500 stores in fiscal 2025, and that the closures would be "immediately accretive" to its adjusted EPS and free cash flow.Walgreens also reported fourth-quarter revenue and adjusted EPS that beat Wall Street estimates.Shares of the company are rising more than 3% in premarket trading. Walgreens ...
Walgreens Boots Alliance(WBA) - 2024 Q4 - Earnings Call Presentation
2024-10-15 21:24
业绩总结 - 2024财年第四季度销售额为375.47亿美元,同比增长6.0%[11] - 2024财年净收益为-86.36亿美元,调整后净收益为24.91亿美元,同比下降27.6%[13] - 2024财年调整后营业收入为26.24亿美元,同比下降32.2%[13] - 2024财年美国零售药房的调整后营业收入为22.0亿美元,同比下降41.3%[14] - 2024财年美国零售药房的销售额为115.78亿美元,同比增长5.0%[14] - 2024财年国际业务销售额为59.71亿美元,同比增长3.7%[19] - 2024财年调整后每股收益为2.88美元,同比下降27.6%[13] - 2024财年自由现金流为2300万美元,同比下降64200万美元[24] - 2024财年运营现金流受到934百万美元法律相关支付的负面影响[24] 用户数据 - 2024财年美国零售药房的同店销售增长为8.3%[14] - 2024财年Boots UK的零售同店销售增长为6.2%[21] - 2024财年美国零售药房的处方市场份额信息截至2024年8月31日为估算值[42] 未来展望 - 预计2025财年销售额在1470亿至1510亿美元之间[30] - 2025财年调整后的每股收益指导为1.40至1.80美元[27][30] - 预计在未来三年内关闭约1200家门店,预计将立即提高现金流[29] - 预计2025财年U.S. Healthcare的调整后营业收入在5000万至9000万美元之间[32] 新产品和新技术研发 - 调整后的EBITDA在2024财年第四季度改善9400万美元,主要受益于VillageMD的成本节约和Shields的增长[22] 负面信息 - 2024财年公司因法律和监管的应计和和解费用记录了561百万美元的相关费用[47] - 2024财年公司因商誉、无形资产和长期资产减值记录了6195万美元的费用[54] - 2024财年公司调整后的净亏损为863.6百万美元,相较于2023财年的308百万美元增加了180.4%[52] 其他新策略 - 2024财年因收购相关费用记录了2.17亿美元的费用,同比增加了171.3%[54] - 2024财年因转型成本管理计划记录了100万美元的费用[54] - 2024财年因收购整合和重组费用支出为300万美元,较2023年的200万美元增长了50%[83]
Walgreens Boots Alliance (WBA) Surpasses Q4 Earnings and Revenue Estimates
ZACKS· 2024-10-15 21:11
Walgreens Boots Alliance (WBA) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.33%. A quarter ago, it was expected that this largest U.S. drugstore chain would post earnings of $0.67 per share when it actually produced earnings of $0.63, delivering a surprise of -5.97%.Over the last ...
Walgreens to close 1,200 stores as part of turnaround effort
Fox Business· 2024-10-15 20:51
Walgreens plans to close at least 1,200 stores over the next three years as the pharmacy giant seeks to reduce costs and turn around operations under a new leader. One of the largest drugstore chains in the country, Walgreens said it was targeting 900 to 1,000 stores primarily across the U.S. by the end of fiscal year 2027, which is part of the company's "multi-year footprint optimization program." About 500 stores are slated to close as early as fiscal year 2025.WALGREENS TO PAY $106.8M OVER CLAIMS IT BIL ...