AmerisourceBergen: Fiscal Q3 Earnings Snapshot
CONSHOHOCKEN, Pa. (AP) _ AmerisourceBergen Corp. (ABC) on Wednesday reported fiscal third-quarter earnings of $407 million.
The Conshohocken, Pennsylvania-based company said it had net income of $1.92 per share. Earnings, adjusted for amortization costs and severance costs, came to $2.62 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.57 per share.
The prescription drug distributor posted revenue of $60.06 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $59.19 billion.
AmerisourceBergen expects full-year earnings in the range of $10.90 to $11.10 per share.
AmerisourceBergen shares have risen 7.5% since the beginning of the year, while the S&P’s 500 index has fallen 14%. The stock has risen 16% in the last 12 months.