AmerisourceBergen: Fiscal 1Q Earnings Snapshot
CHESTERBROOK, Pa. (AP) _ AmerisourceBergen Corp. (ABC) on Thursday reported fiscal first-quarter profit of $393.7 million.
On a per-share basis, the Chesterbrook, Pennsylvania-based company said it had net income of $1.84. Earnings, adjusted for one-time gains and costs, were $1.60 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The prescription drug distributor posted revenue of $45.39 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $43.52 billion.
AmerisourceBergen expects full-year earnings in the range of $6.65 to $6.85 per share.
AmerisourceBergen shares have climbed almost 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 7 percent. The stock has decreased 23 percent in the last 12 months.