AmerisourceBergen (ABC) Q1 Earnings Beat, Revenues Miss
Zacks Investment Research | Jan 29, 2020 09:07PM ET
AmerisourceBergen Corporation (NYSE:ABC) reported first-quarter fiscal 2020 adjusted earnings per share (EPS) of $1.76 surpassing the Zacks Consensus Estimate of $1.67 by 5.4%. The figure also improved 10% year over year.
The better-than-expected bottom-line performance can be attributed to increase in adjusted operating income, lower share count and reduced net interest expense.
Revenues improved 5.4% to $47.86 billion in the reported quarter. However, the figure missed the Zacks Consensus Estimate by 0.3%.
Segmental Analysis
Pharmaceutical Distribution Segment
Revenues at this segment totaled $46.04 billion, improving 5.2% on a year-over-year basis. Consistent robust specialty product sales and increase in volume related to growth of some of its largest customers contributed to the improvement.
Segmental operating income was $391.7 million, up 5% year over year. Increase in gross profit drove the upside.
Other Segment
This segment includes AmerisourceBergen Consulting Services (ABCS), World Courier and MWI Veterinary Supply.
Revenues at this segment came in at $1.85 billion, up 10.5% year over year. This upside was driven by growth in MWI, ABCS and World Courier.
Operating income in the segment was $104.5 million in the quarter, up 14.9% year over year primarily on the back of the performance of World Courier and ABCS.
AmerisourceBergen Corporation Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.