ABC - AmerisourceBergen beats Q3 top and bottom line estimates; raises FY23 EPS outlook

2023-08-02 06:37:34 ET

• AmerisourceBergen press release ( NYSE: ABC ): Q3 Non-GAAP EPS of $2.92 beats by $0.09 .
• Revenue of $66.9B (+11.4% Y/Y) beats by $3.04B .
• Outlook: Adjusted Diluted EPS Guidance Range Raised to $11.85 to $11.95 for Fiscal 2023.
• "AmerisourceBergen is updating its outlook for fiscal year 2023. The Company does not provide forward-looking guidance on a GAAP basis, as discussed below in Fiscal Year 2023 Expectations. Adjusted diluted EPS guidance has been raised from the previous range of $11.70 to $11.90 to a range of $11.85 to $11.95 vs. consensus of $11.87."
• Revenue growth to be at least 8 percent, up from the previous range of 6 to 8 percent. On a constant currency basis, adjusted diluted earnings per share growth to be in the range of 9 to 10 percent, from the previous range of 8 to 10 percent.
• Adjusted consolidated operating income growth to be in the range of 3 to 4 percent, from the previous range of 2 to 4 percent. Excluding contributions related to COVID-19, adjusted consolidated operating income growth to be in the range of 6 to 7 percent, from the previous range of 5 to 7 percent.
• Adjusted free cash flow to be at least $2 billion, from the previous guidance of approximately $2 billion.

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