AmerisourceBergen Backs FY14 Adj. Earnings View - Quick Facts

(RTTNews) - AmerisourceBergen Corp. (ABC) said it still expects fiscal 2014 adjusted earnings per share from continuing operations in the range of $3.60 - $3.73, a 12 percent - 16 percent increase over the $3.21 in fiscal 2013. On average, 17 analysts polled by Thomson Reuters project earnings per share of $3.69 for the year. Analysts' estimates typically exclude one-time items. The adjusted earnings exclude LIFO charges and credits; warrant expense; acquisition related expenses and intangibles amortization; special one-time employee severance, litigation, and other expenses; and gains from antitrust litigation settlements.

The key assumptions supporting that range are revenue growth in the range of 28 percent - 31 percent; operating income growth in the 12 percent - 16 percent range; operating margin decline in the high teens basis points range due to the on-boarding of significant new lower margin business; free cash flow in the range of $500 million - $700 million, with capital expenditures in the $300 million range; and some $500 million in share buybacks, with the majority happening in the second half of fiscal 2014.

The company would confirm its fiscal 2014 expectations at its annual Investor Day today in New York. The presentations would begin at 12:45 pm Eastern Time on Thursday, December 12, 2013, and would be webcast live through www.amerisourcebergen.com.