Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Q2 2020 Earnings Conference Call - Final Transcript

Apr 02, 2020 • 08:30 am ET


Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to Walgreens Boots Alliance Incorporated Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Thank you. I would now like to hand the conference over to your speaker today Gerald Gradwell for the prepared remarks. Please go ahead.

Gerald Gradwell

Good morning, ladies and gentlemen, and welcome to our second quarter earnings call. We here at Walgreens Boots Alliance are strictly adhering to the recommended social distancing. So we're doing this call with our executives in different locations and I would ask you to bear with us if you experience any minor delays or mixed audio quality on the call.

On the line with me today is Stefano Pessina, our Executive Vice Chairman and Chief Executive Officer of Walgreens Boots Alliance; James Kehoe, our Global Chief Financial Officer; and Alex Gourlay, Co-Chief Operating Officer of Walgreens Boots Alliance. Before I hand you over to Stefano to make some opening comments, I will, as usual, take you through the legal Safe Harbor and cautionary declarations.

Certain statements and projections of future results made in this presentation constitute forward-looking statements that are based on our current market's competitive and regulatory expectations and are subject to risks and uncertainties that could cause actual results to vary materially. We undertake no obligation to update publicly any forward-looking statement after this presentation, whether as a result of new information, future events, changes in assumptions or otherwise. Please see our latest Form 10-K for a discussion of risk factors as they relate to forward-looking statements and note in particular that these forward-looking statements may be affected by risks related to the spread and impact of the coronavirus COVID-19 pandemic.

In today's presentation, we will use certain non-GAAP financial measures. We refer you to the Appendix in the presentation materials available on our Investor Relations website for reconciliations to the most directly comparable GAAP financial measures and related information. You'll find a link to the webcast on our Investor Relations website at investor.walgreensbootsalliance.com. After the call this presentation and webcast will be archived on the website for 12 months.

I'll now hand you over to Stefano.

Stefano Pessina

Thank you, Gerald. and good morning everyone. Clearly today, everyone's attention is very focused on the global COVID-19 pandemic. As you would expect, our priority has to be to protect the health and well-being of our customers and our people and we focus on playing our part to address the needs of the communities we serve, and as a key part of the healthcare system in many countries around the world, forming part of the frontline of healthcare delivery. Our teams are working tirelessly to provide medicines and advice to our patients and to ensure the supply chain operates as well as possible in these testing times, both to our own pharmacies and our other wholesales customers.

So I want to start today by thanking our people personally and on behalf of my fellow management members for their outstanding effort and dedication despite the frequently