AmerisourceBergen Raises Annual Earnings Outlook Above View - Update

(RTTNews) - 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.