AmerisourceBergen: Fiscal 4Q Earnings Snapshot
CHESTERBROOK, Pa. (AP) _ AmerisourceBergen Corp. (ABC) on Tuesday reported fiscal fourth-quarter net income of $233.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Chesterbrook, Pennsylvania-based company said it had net income of $1.07. Earnings, adjusted for one-time gains and costs, were $1.45 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The prescription drug distributor posted revenue of $43.3 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $43.53 billion.
For the year, the company reported profit of $1.66 billion, or $7.53 per share. Revenue was reported as $167.94 billion.
AmerisourceBergen expects full-year earnings in the range of $6.65 to $6.95 per share.
AmerisourceBergen shares have declined nearly 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 2 percent. The stock has risen 18 percent in the last 12 months.