Chesterbrook, PA-based AmerisourceBergen Corporation (ABC - Free Report) 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 #4 (Sell) but that could definitely change following its third-quarter fiscal 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) 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 7.12%. Below we have highlighted some of the key stats from this just-revealed announcement:
Earnings: AmerisourceBergen topped earnings in the reported quarter. Our consensus called for earnings of $1.37 per share, and the company reported adjusted earnings of $1.43 per share.
Revenue: AmerisourceBergen posted revenues of $38.7 billion in the reported quarter, which came below our consensus estimate of $39.3 billion.
Key Stats: Revenue at the Pharmaceutical Distribution Services segment was $37.0 billion, up 4.7% on a year-over-year basis. Revenue at the Other segment was $1.7 billion, up 10.6% compared to the same period in the prior fiscal year.
Coming to guidance, AmerisourceBergen expects adjusted earnings per share for full fiscal year 2017 in the band of $5.82 to $5.92, up from the previously provided range of $5.77 to $5.92.
Check back later for our full write up on this AmerisourceBergen earnings report later!
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