Investors Unmoved After Premier's Mixed Q4 Earnings

  • Premier Inc PINC has reported Q4 revenue of $481.5 million, +40% Y/Y, exceeding the consensus of $447.82 million.
  • Higher sales Supply Chain Services boosted the revenue growth by increasing 51% Y/Y to $258.4 million but lower than $371.2 million in Q3 FY21. 
  • Products revenue of $233.0 million jumped 127% Y/Y, primarily driven by the ongoing demand for commodity products.
  • Performance Services segment revenue increased 9% to $91.8 million.
  • Adjusted EBITDA of $1116.5 million decreased 3% Y/Y.
  • Adjusted EPS improved 3% to $0.60, beating the consensus of $0.59.
  • Guidance: Premier expects FY22 adjusted EPS guidance of $2.50-$2.60 higher than the analysts' consensus of $2.43.
  • It sees FY22 sales of $1.32 billion - $1.43 billion, well below the consensus of 1.46 billion, and at midpoint around 20% Y/Y decline over FY21 sales of $1.72 billion.
  • It forecasts adjusted EBITDA to be in the range of $483 million to $500 million.
  • The Company also reiterated that the COVID-19 pandemic would impact revenue growth, adjusted EBITDA, and adjusted EPS.
  • Price Action: PINC shares are up 0.28% at $35.98 during the market session on the last check Tuesday.
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