AmerisourceBergen Q4 Climbs, But Misses View

(RTTNews) - Drug distributor AmerisourceBergen Corp. (ABC) Thursday said its profit for the third quarter increased sharply from the prior year, amid revenue growth.

Net income surged to $364.29 million from $67.80 million in the prior year. Earnings per share were $1.56, compared to $0.29 last year.

Adjusted earnings totaled $1.17, while it was $1.10 last year. On average, 15 analysts polled by Thomson Reuters expected earnings of $1.18 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $35.47 billion from $31.59 billion in the prior year. Analysts expected revenues of $34.47 billion.

For fiscal 2016, the company expects adjusted earnings per share in the range of $5.73 to $5.90, a 15 percent to 19 percent increase over fiscal 2015. Wall Street looks for earnings of $5.64 per share.

Revenue growth is estimated in the range of 8 percent to 10 percent.