Analyst Conference Summary

biotechnology

conference date: January 09, 2025
for quarter ending: November 31, 2024 (fiscal first quarter, Q1 2025)

Forward-looking statements

Overview: .

Basic data (GAAP):

Revenue was $ billion, up % sequentially from $37.5 billion, and up % from $ billion year-earlier.

Net income was $ billion, down sequentially from negative $3.0 billion, and down from negative $ million year-earlier.

Earnings per share (EPS), diluted, were $, down sequentially from negative $3.48, and down from negative $ year-earlier.

Guidance:

.

Conference Highlights:

CEO Tim Wentworth said, ""

The U.S. Retail Pharmacy segment had sales of $ billion, up % sequentially from $29.5 billion, and up % y/y from $ billion. Comp sales up % y/y. Pharmacy sales up % y/y, but prescription sales up only % y/y. Adjusted operating income $ million, down % y/y. U.S. retail total sales down % y/y, comp sales down %. Continues pushing own-brand items.

The International segment sales $ billion, up sequentially from $5.97 billion, and up % y/y from $ billion. $175 million adjusted operating income. Boots UK retail comp sales up % y/y. Results were in line with expectations. Germany saw a % sales increase y/y.

The U.S. Healthcare Segment had sales of $ billion, down slightly sequentially from $2.11 billion, and up % from $ billion from year-earlier. Operating loss was $ million. Adjusted EBITDA was $ million, third consequtive quarter of positive adjusted EBITDA. VillageMD sales up %, Shields up %. But operating loss $ million. Adjusted operating income was $ million, adjusted EBITDA $ million.

Non-GAAP results: Net income $ million, down sequentially from $340 million, and down % from $ million year-earlier. Non-GAAP EPS $, down sequentially from $0.39 and down % from $ year-earlier.

Cash and equivalents ended at $ billion, up sequentially from $3.2 billion. Inventories $ billion. Long-term debt $ billion. Cash from operations was $ billion. Capital expenditure $ billion, but cash provided by investment activities $ billion. Free cash flow $ billion. $ billion paid in dividends.

Cost of sales (GAAP) was $ billion, leaving gross profit of $ billion. SG&A expense was $ billion. Cencora equity earnings $ million. Goodwill impairment $ million. Leaving operating income of negative $ million. Other income $ million. Interest expense $ million. Income Tax $ billion. Post-tax earnings from other equity $ million. Net loss attributable to noncontrolling interests $.

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