AmerisourceBergen (ABC) Beats on Fiscal Q3 Earnings - Tale of the Tape
AmerisourceBergen Corporation (ABC) 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. Chesterbrook, PA-based AmerisourceBergen serves healthcare providers and pharmaceutical manufacturers in the pharmaceutical supply channel.
AmerisourceBergen entered into a strategic agreement with Walgreen Boots Alliance in fiscal 2013. The agreement included a 10-year pharmaceutical distribution contract with Walgreen and access to generic drugs and related pharmaceutical products through the Walgreen Boots Alliance Development joint venture. The company recently acquired leading animal health distribution company, MWI Veterinary Supply, Inc. to further diversify its portfolio.
AmerisourceBergen has a pretty good earnings track record with the company delivering positive earnings surprises in each of the last four quarters with an average positive surprise of 14.04%. Estimate revisions have been static for both 2015.
Currently, AmerisourceBergen has a Zacks Rank #4 (Sell). We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: AmerisourceBergen beat on earnings in the third quarter of fiscal 2015. Our consensus called for EPS of $1.15, and the company reported EPS of $1.20.
Revenue: Revenues also surpassed expectations. AmerisourceBergen posted revenues of $34.2 billion, compared to our consensus estimate of $33.9 billion.
Key Stats: Growing sales of branded and generic products to Walgreens stores significantly contributed to revenues. The company expects fiscal year 2015 adjusted diluted EPS in the range of $4.92 – $4.97 per share.
Check back later for our full write up on this AmerisourceBergen earnings report later!
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AMERISOURCEBRGN (ABC): Free Stock Analysis Report
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