Premier, Inc. (PINC), a provider of healthcare services, Tuesday reported fourth-quarter profit significantly higher than last year, primarily due to increased revenue as well as lower expenses. Earnings as well revenue beat the Street view.
Additionally, the company's Board has approved share buy back of $200 million under its previously announced $1 billion share repurchase authorization.
Net income was $60.68 million or $0.57 per share for the fourth quarter higher than 21.46 million or $0.18 per share in the same quarter a year ago.
Excluding one-time items, earnings were $72.71 million or $0.69 per share, that bet the analysts average estimate of $0.49 per share. Analysts estimates typically exclude special items.
Operating income rose to $82.04 million from $32.85 million in the previous year.
Revenue for the quarter increased 3 percent to $350.27 million from $340.36 million in the previous year. The consensus estimate was for $313.21 million.
Premier also provided fiscal 2025 guidance which excluded contributions from Contigo Health and S2S Global as it plans to divest majority interests in these businesses as announced earlier. The company now expects full-year revenue excluding Contigo Health and S2S Global in the range of $930 million to $1.02 billion. Adjusted EPS for the year is expected between $1.16 and $1.28.
Analysts expect the company to report earnings of $21.8 per share on revenue of $1.31 billion for the year.
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