Summary by Moomoo AI
Walgreens Boots Alliance (WBA) reported its financial performance for the third quarter ending May 31, 2024. The company's trade receivables showed an increase to $4.8 billion, up from $4.3 billion in the previous quarter ending August 31, 2023. Other accounts receivable, primarily from vendors and manufacturers, also rose to $1.2 billion from $1.1 billion in the same period. Depreciation and amortization expenses for the quarter totaled $607 million, a slight increase from $598 million in the corresponding quarter of the previous year. Over nine months, these expenses amounted to $1,837 million compared to $1,652 million in the prior year. Accumulated depreciation and amortization on property, plant, and equipment reached $13.5 billion, up from $13.0 billion. Cash and cash equivalents decreased to $703 million from $739 million, with total cash, cash equivalents, and restricted cash at $740 million, down from $856 million. The redeemable non-controlling interests saw a marginal increase to $173 million from $160 million in the previous year. The company's financial statements reflect a steady performance with moderate increases in receivables and depreciation expenses, alongside a slight decrease in cash reserves.
