AmerisourceBergen (ABC) Beats Q4 Earnings, Issues FY18 View
Zacks Investment Research | Nov 01, 2017 10:33PM ET
AmerisourceBergen Corporation (NYSE:ABC) posted adjusted earnings of $1.33 per share in the fourth quarter of fiscal 2017, beating the Zacks Consensus Estimate by a penny and increasing 2.3% on a year-over-year basis. The upside was primarily driven by strong growth in the company’s Consulting Services, MWI Animal Health and World Courier businesses.
Revenues improved almost 4.2% to $39.1 billion in the reported quarter. However, revenues lagged the Zacks Consensus Estimate of $40.1 billion.
FY17 at a Glance
In fiscal 2017, AmerisourceBergen reported adjusted earnings of $5.88 per share, up 4.6% year over year. Revenues increased 4.3% to $153.1 billion on a year-over-year basis.
Major Highlights
In the fourth quarter, AmerisourceBergen collaborated with Blue Cross Blue Shield Association, Pfizer (NYSE:PFE) , Prime Therapeutics and Walgreens Boots Alliance (NASDAQ:WBA) to combat the opioid abuse crisis in the United States. The companies aim to expand the availability of safe medication disposal kiosks to Walgreens stores, particularly in areas where the opioid epidemic has hit communities.
In the reported quarter, AmerisourceBergen initiated product shipments to Walgreens’ retail pharmacies.
Added to this, AmerisourceBergen launched an online, interactive cell and gene therapy resource that provides insights for patients facing challenges pertaining to treatment procedures.
AmerisourceBergen Corporation (Holding Co) Price and Consensus
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