U.S. markets open in 3 hours 34 minutes
  • S&P Futures

    3,768.75
    -34.50 (-0.91%)
     
  • Dow Futures

    30,087.00
    -278.00 (-0.92%)
     
  • Nasdaq Futures

    11,532.50
    -108.25 (-0.93%)
     
  • Russell 2000 Futures

    1,758.50
    -23.00 (-1.29%)
     
  • Crude Oil

    86.19
    -0.33 (-0.38%)
     
  • Gold

    1,717.40
    -13.10 (-0.76%)
     
  • Silver

    20.62
    -0.48 (-2.27%)
     
  • EUR/USD

    0.9928
    -0.0058 (-0.59%)
     
  • 10-Yr Bond

    3.6170
    0.0000 (0.00%)
     
  • Vix

    29.44
    -0.66 (-2.19%)
     
  • GBP/USD

    1.1393
    -0.0082 (-0.71%)
     
  • USD/JPY

    144.4710
    +0.2720 (+0.19%)
     
  • BTC-USD

    20,104.58
    +162.33 (+0.81%)
     
  • CMC Crypto 200

    455.41
    +9.97 (+2.24%)
     
  • FTSE 100

    6,994.07
    -92.39 (-1.30%)
     
  • Nikkei 225

    27,120.53
    +128.32 (+0.48%)
     

Premier's Q4 Sales, Profits Fall On Normalization Of COVID-19-Driven Demand

·1 min read
  • Premier Inc (NASDAQ: PINC) has reported Q4 FY22 revenue of $340.7 million, down 29% Y/Y, exceeding the consensus of $333.43 million.

  • Supply Chain Services segment revenue decreased 40% to $232.7 million, primarily reflecting lower product revenue.

  • Products revenue of $69.7 million declined 70%, primarily driven by lower demand and pricing, as the company expected, for pandemic-related supplies, which was partially offset by ongoing demand for commodity products.

  • Adjusted EBITDA of $122.8 million increased 5% Y/Y. Adjusted EPS improved 2% to $0.61.

  • The company's GAAP net income of $30.7 million decreased 39% from $50.7 million a year ago, primarily due to the impairment of certain capitalized software assets.

  • Guidance: Premier expects FY233 adjusted EPS of $2.63 - $2.75, versus the analysts' consensus of $2.67.

  • It sees FY23 sales of $1.38-$1.45 billion, down 1.25% Y/Y at the midpoint, compared to the consensus of $1.42 billion.

  • The company forecasts adjusted EBITDA of $510-$530 million.

  • Price Action: PINC shares traded lower by 0.48% at $38.31 on the last check Tuesday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.