AmerisourceBergen Q3 Profit Misses View; Tightens FY Adj. EPS View - Quick Facts

(RTTNews) - AmerisourceBergen Corp.'s (ABC) third-quarter net income slid year-over-year to $168.44 million, from $181.27 million, with quarterly earnings remaining flat at $0.71 per share. Adjusted earnings per share from continuing operations were down 1.4 percent to $0.73 in the quarter, excluding LIFO expense of $122.1 million and warrant expense of $35.8 million. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.74 for the quarter. Analysts' estimates typically exclude one-time items.

Revenue totaled $21.91 billion in the recent quarter, a 13.3 percent increase from the previous year's $19.33 billion, driven by a 16 percent growth in AmerisourceBergen Drug Corp. revenue, and a 5 percent rise in AmerisourceBergen Specialty Group revenue. Analysts estimated revenues of $21.33 billion for the quarter.

Going forward, the company narrowed the range of its expectations for 2013 adjusted earnings per share from continuing operations to $3.06 - $3.11 from its prior $3.04 - $3.14 range. Eight analysts project annual earnings of $3.06 per share.