AmerisourceBergen (ABC) Tops Q2 EPS by 6c; Raises FY21 EPS Guidance

AmerisourceBergen (NYSE: ABC) reported Q2 EPS of $2.53, $0.06 better than the analyst estimate of $2.47. Revenue for the quarter came in at $49.2 billion versus the consensus estimate of $49.92 billion.

"AmerisourceBergen continues to prove our vital role as a key pillar in the healthcare system. Our solid performance in the March quarter was fueled by our associates who continue to work diligently to provide innovative solutions for our partners to ultimately serve their patients," said Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen.

"Driven by our purpose of being united in our responsibility to create healthier futures, we are strengthening our portfolio of solutions for customers, expanding on our leadership in specialty, focusing on execution and leveraging our capabilities and expertise to support pharmaceutical innovation," Mr. Collis continued. "AmerisourceBergen is well-positioned to deliver long-term, sustainable growth, supported by our diverse and inclusive teams and our investments in our people and culture."

GUIDANCE:

AmerisourceBergen sees FY2021 EPS of $8.45-$8.60, versus the consensus of $8.56.

AmerisourceBergen has updated its fiscal year 2021 financial guidance to reflect the Company’s continued strong performance, including better than expected performance in our Global Commercialization Services & Animal Health group, and an incrementally higher expected share count for the year. This updated financial guidance does not include any contribution from the proposed Alliance Healthcare acquisition and does not reflect the weighted average share count impact of the 2 million shares of AmerisourceBergen common stock that will be delivered at closing of the transaction. The Company now expects:

• Adjusted Diluted EPS to be in the range of $8.45 to $8.60, raised from the previous range of $8.40 to $8.60.

Additional expectations now include:

• Adjusted operating expense growth in the high-single digit percent range, narrowed from the mid- to high-single digit percent range;
• Other, which is comprised of our Global Commercialization Services & Animal Health businesses, operating income growth in the low-double digit percent range, up from the mid- to high-single digit percent range;
• Weighted average shares to be between 207 million and 208 million, raised from the previous expectation of approximately 207 million for the fiscal year.

All other previously communicated aspects of the Company's fiscal year 2021 financial guidance and assumptions remain the same.

For earnings history and earnings-related data on AmerisourceBergen (ABC) click here.

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