AmerisourceBergen beats earnings expectations, and lifts full-year guidance

amerisourcebergen-beats-earnings-expectations,-and-lifts-full-year-guidance

AmerisourceBergen Corp. ABC, +1.20% reported fiscal second-quarter profit and revenue that rose above expectations, amid strength in international healthcare business, and raised its full-year outlook. The health care services company’s stock was still inactive in premarket trading. Net income for the quarter to March 31 rose to $548.0 million, or $2.59 a share, from $435.3 million, or $2.10 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $3.22 beat the FactSet consensus of $2.92. Revenue grew 17.4% to $57.72 billion, above the FactSet consensus of $57.48 billion. The company said revenue got a boost from a 585.3% increase within its International Healthcare Solutions business, driven primarily by the acquisition of Alliance Healthcare in June 2021. For 2022, the company raised its adjusted EPS guidance range to $10.80 to $11.05 from $10.60 to $10.90. The stock has rallied 13.5% year to date, while the S&P 500 SPX, +0.48% has declined 12.4%.

Source: Marketwatch

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