Premier (PINC) Tops Q2 EPS by 6c

Premier (NASDAQ: PINC) reported Q2 EPS of $0.74, $0.06 better than the analyst estimate of $0.68. Revenue for the quarter came in at $319.6 million versus the consensus estimate of $308.29 million.

“We again achieved solid performance in the fiscal second quarter, underscored by steady growth in our Supply Chain Services segment that more than offset continued softness in the Performance Services segment,” said Susan DeVore, chief executive officer. “As anticipated, Performance Services continued to be impacted by reduced revenue from our CMS government contract, investments in our new strategies and the ongoing political and regulatory uncertainty impacting other areas of the business.

“We remain financially and operationally focused on leveraging Premier’s unique, integrated and expanding supply chain, technology and consulting capabilities to continue driving steady profitable growth across our businesses by providing our members with a customized and integrated total-value proposition that drives a compelling total return on their investment in our relationship,” DeVore added. “We believe our superior service levels, longstanding relationships and the outstanding value that we deliver for our members have been the primary drivers of our high GPO retention rate, which has averaged in the mid- to high-90 percent range over the past decade.”

For earnings history and earnings-related data on Premier (PINC) click here.

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