AmerisourceBergen: Fiscal 4Q Earnings Snapshot
CHESTERBROOK, Pa. (AP) _ AmerisourceBergen Corp. (ABC) on Thursday reported fiscal fourth-quarter net income of $132.6 million.
The Chesterbrook, Pennsylvania-based company said it had net income of 63 cents per share. Earnings, adjusted for severance costs and non-recurring costs, came to $1.61 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The prescription drug distributor posted revenue of $45.64 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $45.33 billion.
For the year, the company reported profit of $855.4 million, or $4.04 per share. Revenue was reported as $179.59 billion.
AmerisourceBergen expects full-year earnings in the range of $7.30 to $7.60 per share.
AmerisourceBergen shares have risen 14% since the beginning of the year, while the Standard & Poor’s 500 index has increased 23%. The stock has climbed almost 1% in the last 12 months.