AmerisourceBergen tops 4Q net income and revenue expectations

MarketsAssociated Press

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.

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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.

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

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Keywords:AmerisourceBergen,Earnings Report