AmerisourceBergen Q1 Earnings Surpass Expectations, Boosts Annual Guidance

AmerisourceBergen Q1 Earnings Surpass Expectations, Boosts Annual Guidance
  • AmerisourceBergen Corp's ABC Q1 FY23 adjusted EPS reached $2.71, up 5% Y/Y, beating the consensus of $2.63.
  • Revenue of $62.85 billion increased by 5.4% Y/Y, beating the analyst consensus of $62.67 billion, reflecting a 6.1% increase in U.S. Healthcare Solutions revenue and a 0.6% decrease in revenue within International Healthcare Solutions due to the negative impact of foreign currency translation.
  • On a constant currency basis, revenue was up 7.5%, reflecting 17.7% constant currency growth in International Healthcare Solutions revenue.
  • Also Read: US Authority Plans Massive Expansion Of Medication Access To Combat Opioid Overdose Crisis.
  • Adjusted gross profit was $2.1 billion, up 5.4% Y/Y, with the margin flat Y/Y at 3.38%.
  • Adjusted operating income decreased by 2.1% to $734 million, and the margin decreased by nine basis points to 1.17%.
  • FY23 Guidance: AmerisourceBergen raised the FY23 adjusted EPS guidance to $11.50 to $11.75 from $11.30-$11.60, compared to the consensus of $11.51.
  • Excluding contributions related to COVID-19, adjusted operating income growth is expected to be around 4%-6%, up from the previous range of 3%-5%.
  • Last week, the company announced its intention to change its name to Cencora and expects to begin operating under the new moniker in 2H of CY2023.
  • Price Action: ABC shares are down 1.66% at $166.15 on the last check Wednesday.
  • Photo Via Company

Posted In: EarningsLarge CapNewsGuidanceHealth CareGeneralBriefs