Chesterbrook, PA-based AmerisourceBergen Corporation is one of the world’s largest pharmaceutical services companies, which focuses on providing drug distribution and related services to reduce healthcare costs and improve patient outcomes.
AmerisourceBergen serves healthcare providers and pharmaceutical manufacturers in the pharmaceutical supply channel. The company has been actively pursuing acquisitions to strengthen its core areas and diversify.
Currently, AmerisourceBergen has a Zacks Rank #3 (Hold) but that could definitely change following its second-quarter fiscal 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.)
Interestingly, AmerisourceBergen has an impressive track of comfortably beating estimates in each of the four trailing quarters. It has an average positive surprise of 5.9%. Below we have highlighted some of the key stats from this just-revealed announcement:
Earnings: AmerisourceBergen posted adjusted earnings of $1.94 per share for the second quarter of fiscal 2018. The figure has outpaced the Zacks Consensus Estimate by 6%. Notably, earnings also rose by 9.6% from the year-ago quarter.
Revenue: Revenues in the reported quarter came in at $41.03 billion, beating the Zacks Consensus Estimate of $40.49 billion, marginally. Revenues also increased 10.5%, year over year. The upside was primarily led by growth in Pharmaceutical Distribution Services and Other segments.
Key Stats: Pharmaceutical Distribution Services revenue was $39.5 billion, an increase of 10.4% compared to the year-ago quarter.
Revenue in Other was $1.6 billion in the second quarter of fiscal 2018, an increase of 12.6% on year-over-year basis. The upside in the segment can be attributed to the consolidation of the specialty joint venture in Brazil and revenue growth from MWI, ABCS's growth in its Canadian operations and World Courier.
Major Factors: AmerisourceBergen has updated its fiscal year 2018 financial guidance. Revenue growth is expected to be in the range of 8-11%. Adjusted earnings per share is anticipated between $6.45-6.65.
Adjusted operating expenses are expected to increase between 8-10%, while operating income growth is expected to be flat. Moreover, adjusted free cash flow is expected to be approximately in the range of $1.35-1.6 billion.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this AmerisourceBergen earnings report later!
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AmerisourceBergen (ABC) Beats on Q2 Earnings & Revenue
Chesterbrook, PA-based AmerisourceBergen Corporation is one of the world’s largest pharmaceutical services companies, which focuses on providing drug distribution and related services to reduce healthcare costs and improve patient outcomes.
AmerisourceBergen serves healthcare providers and pharmaceutical manufacturers in the pharmaceutical supply channel. The company has been actively pursuing acquisitions to strengthen its core areas and diversify.
Currently, AmerisourceBergen has a Zacks Rank #3 (Hold) but that could definitely change following its second-quarter fiscal 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.)
Interestingly, AmerisourceBergen has an impressive track of comfortably beating estimates in each of the four trailing quarters. It has an average positive surprise of 5.9%. Below we have highlighted some of the key stats from this just-revealed announcement:
AmerisourceBergen Corporation Price and EPS Surprise
AmerisourceBergen Corporation Price and EPS Surprise | AmerisourceBergen Corporation Quote
Earnings: AmerisourceBergen posted adjusted earnings of $1.94 per share for the second quarter of fiscal 2018. The figure has outpaced the Zacks Consensus Estimate by 6%. Notably, earnings also rose by 9.6% from the year-ago quarter.
Revenue: Revenues in the reported quarter came in at $41.03 billion, beating the Zacks Consensus Estimate of $40.49 billion, marginally. Revenues also increased 10.5%, year over year. The upside was primarily led by growth in Pharmaceutical Distribution Services and Other segments.
Key Stats: Pharmaceutical Distribution Services revenue was $39.5 billion, an increase of 10.4% compared to the year-ago quarter.
Revenue in Other was $1.6 billion in the second quarter of fiscal 2018, an increase of 12.6% on year-over-year basis. The upside in the segment can be attributed to the consolidation of the specialty joint venture in Brazil and revenue growth from MWI, ABCS's growth in its Canadian operations and World Courier.
Major Factors: AmerisourceBergen has updated its fiscal year 2018 financial guidance. Revenue growth is expected to be in the range of 8-11%. Adjusted earnings per share is anticipated between $6.45-6.65.
Adjusted operating expenses are expected to increase between 8-10%, while operating income growth is expected to be flat. Moreover, adjusted free cash flow is expected to be approximately in the range of $1.35-1.6 billion.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this AmerisourceBergen earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>