AmerisourceBergen Reports Second Quarter Fiscal Year 2017 Results
VALLEY FORGE, Pa.--(BUSINESS WIRE)--AmerisourceBergen Corporation (NYSE:ABC) today reported that in its fiscal year 2017 second quarter ended March 31, 2017, revenue increased 4.1 percent to $37.1 billion. On the basis of U.S. generally accepted accounting principles (GAAP), diluted earnings per share (EPS) was $1.86 for the March quarter of fiscal 2017, compared to $2.68 in the prior year quarter. Adjusted diluted EPS, which excludes items described below, increased 5.4 percent to $1.77 in the fiscal second quarter.
The Company is updating its outlook for fiscal year 2017. The Company does not provide forward-looking guidance on a GAAP basis, as discussed below in Fiscal Year 2017 Expectations. Adjusted diluted EPS guidance has been raised from the previous expectation of $5.72 to $5.92 to a range of $5.77 to $5.92, reflecting growth of 3 percent to 5 percent versus last fiscal year.
“AmerisourceBergen is consistently delivering solid performance in a challenging marketplace. We are very pleased with our second quarter results, our team’s ability to strategically execute and the continued growth of our anchor customers. We also take great pride in our strong customer relationships, including our long-term contract with Express Scripts, which we recently renewed and now extends through 2022,” said Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen. “We offer our pharmaceutical manufacturer and provider customers the most innovative and business-critical services and solutions to support and drive their growth. The overall response to these offerings has been extremely positive and their adoption continues to grow.”
“In the second quarter of the fiscal year, we continued to lead the market in specialty distribution and pharmaceutical services, deliver excellent growth across our businesses in Other - including Consulting Services, MWI Animal Health and World Courier - and effectively manage our operating expenses,” Mr. Collis continued. “As we move further into 2017, we continue to have great confidence in our unique portfolio of integrated services, the significant value we bring to our customers and our ability to create healthier futures - AmerisourceBergen enables people to access the healthcare products they need, ultimately improving the lives of patients and delivering long-term value to all of our stakeholders.”
The Company is updating its outlook for fiscal year 2017. The Company does not provide forward-looking guidance on a GAAP basis, as discussed below in Fiscal Year 2017 Expectations. Adjusted diluted EPS guidance has been raised from the previous expectation of $5.72 to $5.92 to a range of $5.77 to $5.92, reflecting growth of 3 percent to 5 percent versus last fiscal year.
“AmerisourceBergen is consistently delivering solid performance in a challenging marketplace. We are very pleased with our second quarter results, our team’s ability to strategically execute and the continued growth of our anchor customers. We also take great pride in our strong customer relationships, including our long-term contract with Express Scripts, which we recently renewed and now extends through 2022,” said Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen. “We offer our pharmaceutical manufacturer and provider customers the most innovative and business-critical services and solutions to support and drive their growth. The overall response to these offerings has been extremely positive and their adoption continues to grow.”
“In the second quarter of the fiscal year, we continued to lead the market in specialty distribution and pharmaceutical services, deliver excellent growth across our businesses in Other - including Consulting Services, MWI Animal Health and World Courier - and effectively manage our operating expenses,” Mr. Collis continued. “As we move further into 2017, we continue to have great confidence in our unique portfolio of integrated services, the significant value we bring to our customers and our ability to create healthier futures - AmerisourceBergen enables people to access the healthcare products they need, ultimately improving the lives of patients and delivering long-term value to all of our stakeholders.”