AmerisourceBergen Lifts Annual Earnings Guidance - Update

(Adds outlook)

AmerisourceBergen Corp. (ABC) reported a profit for its first quarter that increased from last year and beat the Street estimates. The company also increased its full-year adjusted earnings guidance.

The company's bottom line came in at $479.75 million, or $2.33 per share. This compares with $449.11 million, or $2.13 per share, in last year's first quarter.

Excluding items, AmerisourceBergen Corp. reported adjusted earnings of $559.65 million or $2.71 per share for the period.

Analysts on average had expected the company to earn $2.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.4% to $62.846 billion from $59.628 billion last year.


For the full year, the company has raised its outlook for adjusted EPS to the range of $11.50-$11.75 from $11.30-$11.60.

Analysts on average polled by Thomson-Reuters expect the company to report earnings of $11.51 per share for the year.

AmerisourceBergen Corp. Q1 earnings at a glance (GAAP) :

-Earnings (Q1): $479.75 Mln. vs. $449.11 Mln. last year.
-EPS (Q1): $2.33 vs. $2.13 last year.
-Analyst Estimate: $2.63
-Revenue (Q1): $62.846 Bln vs. $59.628 Bln last year.

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