Walgreens Boots Alliance, Inc. (WBA) Q4 2022 Earnings Call Transcript

For the period ending August 31, 2022

October 13, 2022 8:30 a.m. ET

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’d like to welcome everyone to the Walgreens Boots Alliance Fiscal Year 2022 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. Thank you.

Tiffany Kanaga, Vice President, Global Investor Relations, you may begin your conference.

Tiffany Kanaga - VP, Global IR

Good morning. Thank you for joining us for the Walgreens Boots Alliance earnings call for the fourth quarter of fiscal year 2022. 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 our U.S. Healthcare segment. Rick Gates, Senior Vice President of Pharmacy and Healthcare at Walgreens will participate in Q&A.

Today’s call will be approximately two hours in length, including Q&A. Let me note that, we will be referring to our segments by their new names: U.S. Retail Pharmacy, International and U.S. Healthcare. The renaming did not result in any change to the composition of the segments. Additionally, all references to the COVID-19 headwind 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 in 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 Investors section of the Walgreens Boots Alliance website. The slides and the press release also contain further information about non-GAAP financial measures that we will discuss today during this call.

I will now turn the call over to Roz.

Roz Brewer - CEO

Thanks, Tiffany, and good morning, everyone. It’s great to be with all of you today, and it’s hard to believe a whole year has gone by since our Investor Day last October. As I said to you then and I’m deeply committed to being as open and transparent as possible about our business. We have scheduled a longer call this morning to provide a more in-depth update and also to spend additional time on Q&A to hear from you. I’m looking forward to reviewing our execution over the past year. We delivered ahead of our expectations in fiscal year ‘22 and are well underway in our transformation to a consumer-centric healthcare company.