AmerisourceBergen Q1 Earnings Rise; Ups Annual Earnings Guidance

AmerisourceBergen Corporation (ABC) Thursday reported higher earnings in the first quarter helped by increased revenue primarily due to the acquisition of Alliance Healthcare. The company also raised its full-year adjusted earnings outlook.

Net income was $449.1 million or $2.13 per share in the first quarter, higher than $374.8 million or $1.81 per share in the same quarter a year ago.

Excluding one-time items, earnings were $2.58 per share. On average, twelve analysts polled by Thomson Reuters expected the company to report earnings of $2.57 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 13.5 percent year-over-year to $59.629 billion. The consensus estimate was for $59.46 billion.

Looking forward, AmerisourceBergen has raised its full-year adjusted earnings outlook to the range of $10.60 - $10.90 from $10.50 - $10.80. The consensus estimate stands at $10.69 per share.

Further, the company' Board declared a quarterly dividend of $0.46 per share, payable February 28, to stockholders of record at the close of business on February 14.

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