Walgreens Boots Alliance
Q3 2023 Earnings Call
Jun 27, 2023, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning. My name is Rob, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Walgreens Boots Alliance third quarter 2023 earnings conference call. All lines have been placed on mute to prevent any background noise.
After the speakers' remarks, there will be a question-and-answer session. [Operator instructions] Tiffany Kanaga, vice president of global investor relations, you may begin your conference.
Tiffany Kanaga -- Vice President, Global Investor Relations
Good morning. Thank you for joining us for the Walgreens Boots Alliance earnings call for the third quarter of fiscal year 2023. I'm Tiffany Kanaga, vice president of global investor relations. Joining me on today's call are Roz Brewer, our chief executive officer; James Kehoe, our chief financial officer; and John Driscoll, president of US healthcare.
Rick Gates, senior vice president and chief pharmacy officer at Walgreens will participate in Q&A. All references to the COVID-19 headwind on today's call include U.S. vaccines, drive-thru tests, and OTC tests. As always, during the conference call, we anticipate making projections and forward-looking statements based on our current expectations.
Our actual results could differ materially due to a number of factors, including those listed on Slide 2 and those outlined on our latest forms 10-K and 10-Q filed with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement after this presentation, whether as a result of new information, future events, changes in assumptions, or otherwise. You can find our press release and the slides referenced on this call in the investor section of the Walgreens Boots Alliance website. The slides in the press release also contain further information about the non-GAAP financial measures that we will discuss during this call.
I will now turn the call over to Roz.
Roz Brewer -- Chief Executive Officer
Thanks, Tiffany, and good morning, everyone. I'd like to start today's call with an acknowledgment that our performance in the third quarter did not meet our overall expectations, and we are disappointed to have to change our fiscal 2023 guidance. While we achieved good sales growth and return to adjusted earnings growth in the quarter, several dynamics created margin pressures that we are factoring into our full year outlook. We have seen changing market trends that have consumers prioritizing value in response to a more uncertain and challenging economic environment.