AmerisourceBergen tops 4Q net income and revenue expectations

CHESTERBROOK, Pa. (AP) — AmerisourceBergen Corp. (ABC) on Thursday reported profit of $67.8 million in its fiscal fourth quarter.

On a per-share basis, the Chesterbrook, Pennsylvania-based company said it had net income of 29 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.10 per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.

The prescription drug distributor posted revenue of $31.59 billion in the period, which also topped Street forecasts. Analysts expected $30.61 billion, according to Zacks.

AmerisourceBergen expects full-year earnings in the range of $4.36 to $4.50 per share.

AmerisourceBergen shares have risen 13 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 7 percent. The stock has risen 21 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. ABC stock research report from Zacks.


Keywords:AmerisourceBergen,Earnings Report