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AmerisourceBergen Raises Annual Earnings Outlook Above View - Update

AmerisourceBergen Corp. (ABC) updated its fiscal 2022 guidance to reflect the stronger than expected performance of several of its businesses. For fiscal 2022, adjusted EPS guidance has been raised to a range of $10.80 to $11.05 from the previous range of $10.60 to $10.90. Analysts polled by Thomson Reuters expect the company to report profit per share of $10.79. Analysts' estimates typically exclude special items. The company noted that its full year expectations from COVID treatment distribution are largely unchanged.

The company's second quarter earnings came in at $548.01 million, or $2.59 per share compared to $435.27 million, or $2.10 per share, prior year. Excluding items, AmerisourceBergen reported adjusted earnings of $683.34 million or $3.22 per share for the period. Analysts on average had expected the company to earn $2.93 per share, according to figures compiled by Thomson Reuters.

The company's revenue for the quarter rose 17.4% to $57.72 billion from $49.15 billion last year.

The company's Board of Directors declared a quarterly cash dividend of $0.46 per share, payable May 31, 2022, to stockholders of record at the close of business on May 16, 2022.

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