AmerisourceBergen (ABC) Tops Q1 Earnings & Revenue Estimates
Chesterbrook, PA-based 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.
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 first-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.)
AmerisourceBergen Corporation (Holding Co) Price and EPS Surprise
AmerisourceBergen Corporation (Holding Co) Price and EPS Surprise | AmerisourceBergen Corporation (Holding Co) Quote
Interestingly, AmerisourceBergen has an impressive track of comfortably beating estimates in each of the four trailing quarters. It has an average positive surprise of 6%. 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 $1.35 per share, and the company reported adjusted earnings of $1.55 per share.
Revenue: AmerisourceBergen posted revenues of $40.47 billion in the reported quarter, which came above our consensus estimate of $40.37 billion.
Key Stats: Revenue at the Pharmaceutical Distribution Services segment was $38.94 billion, up 5.8% on a year-over-year basis. Revenue at the Other segment was $1.54 billion, up 11.6% compared to the same period in the prior fiscal year.
Coming to guidance, AmerisourceBergen updated its outlook for fiscal year 2018. The company expects adjusted earnings per share for fiscal 2018 in the band of $6.45 to $6.65 from the previous range of $5.90 to $6.15.
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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AmerisourceBergen Corporation (Holding Co) (ABC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
