AmerisourceBergen Q4 Profit Beats Estimates

(RTTNews) - AmerisourceBergen Corporation (ABC) reported that its fourth quarter adjusted earnings per share was up 26.5 percent to $2.39 from $1.89, last year, driven by the increase in adjusted operating income and partially offset by higher net interest expense and a higher diluted share count. Adjusted operating income was $694.1 million, up 31.0 percent from the prior year quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $2.36, for the quarter. Analysts' estimates typically exclude special items.

Earnings per share was $2.08 compared to a loss of $23.74, prior year which was negatively impacted by the legal expense accrual.

Fourth quarter revenue was $58.9 billion, up 19.6 percent from prior year. Analysts on average had estimated $57.33 billion in revenue.

For fiscal 2022, the company projects adjusted earnings per share to be in the range of $10.50 to $10.80. Revenue growth is estimated in the high-single digit to low-double digit percent range. Analysts polled by Thomson Reuters expect the company to report profit per share of $10.57.