Walgreens Boots Alliance sees U.S. tax legislation boosting FY18 EPS by 30c-35c
In a regulatory filing, Walgreens Boots Alliance announced that it is providing an update on the anticipated impact of the recently-enacted U.S. tax legislation, specifically as it relates to the cash tax benefit the company expects to obtain for its fiscal year ending August 31, 2018 as well as with respect to the expected impact on the company's adjusted diluted net earnings per share for fiscal year 2018. Based on the information currently available to the company and the company's current assumptions, estimates, and expectations, as a result of the recently-enacted legislation, the company expects to obtain a cash tax benefit in excess of $200M for fiscal year 2018, which is inclusive of the benefits available from the effective date of the legislation. The legislation is currently expected to favorably impact the company's adjusted diluted net earnings per share for fiscal year 2018 by between 30c-35c.The company is continuing to work to provide a more comprehensive assessment of the potential full impact of the recently-enacted legislation on the company and its financial statements, and intends to provide a further update in the future with respect thereto. Accordingly, the amounts and timing of all estimates remain subject to change.