WBA - AmerisourceBergen shares down slightly as pharma wholesaler holds investor day

AmerisourceBergen (NYSE:ABC) shares are down ~4% in Wednesday afternoon trading as the company provided future projections at its investors day. The pharma wholesaler reaffirmed its previously issued guidance for fiscal 2022 of $10.80 – $11.05 adjusted diluted earnings per share. AmerisourceBergen sees adjusted operating income long-term growth of 5%-8% and adjusted diluted EPS growing at 8%-12%. In addition, the company is guiding toward adjusted free cash flow of $2B-$2.5B this fiscal year. CFO Jim Cleary said that the free cash flow will help to pay down two-thirds of the Alliance Healthcare acquisition debt by March 2023. AmerisourceBergen (ABC) will provide FY23 guidance in November. The company also announced $1B in share buybacks.

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AmerisourceBergen shares down slightly as pharma wholesaler holds investor day