AmerisourceBergen (ABC) Tops Q4 EPS by 7c; Approves New $1B Stock Buyback CEO Collis 'Pleased' with Performance
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AmerisourceBergen (NYSE: ABC) reported Q4 EPS of $1.30, $0.07 better than the analyst estimate of $1.23. Revenue for the quarter came in at $37.6 billion versus the consensus estimate of $37.85 billion.
The Company also announced that its Board of Directors authorized a new $1 billion regular share repurchase program which, together with available capacity under the existing regular share repurchase program, permits the Company to purchase up to $1.1 billion in shares of its common stock, subject to market conditions. The company had 220.1 million shares outstanding as of September 30, 2016.
“I am pleased with the solid performance we delivered in the September quarter,” said Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen. “We successfully navigated a challenging healthcare landscape, and we continued to enhance our offerings for customers and make important investments in our infrastructure.”
“In fiscal 2016, we renewed relationships with key customers in our core business, we delivered excellent growth in our specialty businesses, and we had strong contributions from our most recent acquisitions, MWI Veterinary Supply and PharMEDium. In addition, we successfully mitigated the dilutive impact of the two warrant exercises, and we repurchased a total of $731.2 million in stock under our regular repurchase programs, a significant increase over our original expectation for fiscal 2016. We ended the year with an improved balance sheet, and we have significant financial flexibility as we head into fiscal 2017.”
“I have great confidence in the strength of our long-term customer relationships and unique portfolio of integrated services which offer compelling value propositions to pharmaceutical manufacturers and provider customers. We provide a vital service in the global healthcare system, and we do so with the ultimate goal of improving the lives of patients while delivering balanced, long-term value to all of our stakeholders.”
AmerisourceBergen sees FY2017 EPS of $5.63-$5.88, versus the consensus of $5.55.
For earnings history and earnings-related data on AmerisourceBergen (ABC) click here.
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