Premier, Inc. (PINC), a technology-driven healthcare improvement company, Tuesday reported a profit for the third quarter compared with a loss last year, primarily because the year-ago period had charges toward goodwill, intangibles and other long-lived asset impairment related to its Contigo Health business. The company also raised its full-year adjusted EPS outlook. Premier shares were more than 4% up in pre-market.
Premier posted net income from continuing operations attributable to stockholders of $27.84 million, or $0.32 per share for the third quarter, compared with a loss of $39.89 million, or $0.36 per share, in the prior-year period.
Excluding one-time items, earnings decreased to $38.97 million or $0.44 per share from $54.93 million or $0.49 per share last year.
Revenue for the quarter declined to $261.38 million from $286.87 million in the previous year.
For fiscal 2025, the company now expects adjusted EPS in the range of $1.37 - $1.43, up from the previous outlook of $1.26 - $1.34.
Guidance for net revenue excluding Contigo Health has been revised to $955 million - $995 million from $940 million to $1.01 billion.
"Our overall revenue and profitability grew sequentially and exceeded our expectations for the third quarter largely due to better-than-anticipated results in our Supply Chain Services segment. As a result, we are increasing our adjusted EBITDA and adjusted EPS guidance and reaffirming the midpoint of our consolidated revenue guidance range," said Michael J. Alkire, Premier's President and CEO.
Premier stock had closed at $20.51, up 0.24% on Monday. It has traded in the range of $17.23 - $23.56 in the last 1 year.
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