AmerisourceBergen Reports Third Quarter Fiscal Year 2017 Results
Published: Aug 03, 2017
VALLEY FORGE, Pa.--(BUSINESS WIRE)--AmerisourceBergen Corporation (NYSE:ABC) today reported that in its fiscal year 2017 third quarter ended June 30, 2017, revenue increased 4.9 percent to $38.7 billion. On the basis of U.S. generally accepted accounting principles (GAAP), diluted earnings per share (EPS) was $0.23 for the June quarter of fiscal 2017, compared to $1.55 in the prior year quarter. Adjusted diluted EPS, which excludes items described below, increased 4.4 percent to $1.43 in the fiscal third 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 $5.77 to $5.92 to a range of $5.82 to $5.92, reflecting growth of 4 percent to 5 percent versus last fiscal year.
“AmerisourceBergen continues to execute successfully in a dynamic marketplace. We are providing our customers with the highest quality pharmaceutical distribution services and the most innovative solutions to grow their businesses. For example, we are fully rolling out and implementing our innovative ABC Order platform - an ordering system designed by pharmacists for pharmacists that completely changes the way independent pharmacies manage their product orders. Early customer feedback on the platform has been extremely positive, with pharmacists citing ease of use and real-world business value,” said Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen. “Additionally, in the third quarter of the fiscal year, we continued to lead the market in specialty distribution, delivered strong growth across our Consulting Services, MWI Animal Health and World Courier businesses and effectively managed our operating expenses."
“As we move further into 2017 and look beyond to fiscal 2018, we are transforming the company to work even more seamlessly with customers, optimize our offerings and drive our corporate growth over the long term,” Mr. Collis continued. “We have great confidence in our broad portfolio of integrated services, the significant value we bring to our customers and our ability to enable access to healthcare products, ultimately improving the lives of patients. AmerisourceBergen is living our corporate purpose - we are united in our responsibility to create healthier futures - while continuing to drive and deliver long-term value for our shareholders.”