2023-05-02 06:36:29 ET
- Premier press release ( NASDAQ: PINC ): Q3 Non-GAAP EPS of $0.58 in-line.
- Revenue of $322.23M (-7.4% Y/Y) misses by $31.07M .
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Fiscal 2023 Guidance
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- Lowering Supply Chain Services segment net revenue to a range of $895 million to $925 million, reflecting lower direct sourcing revenue as a result of an ongoing impact from excess market supply and member inventory levels and lower revenues than the company previously anticipated due to delays in new domestic manufacturing capabilities. The company noted that its guidance for net administrative fees revenue of $600 million to $620 million remains unchanged.
- Lowering Performance Services segment net revenue to a range of $440 million to $460 million, primarily reflecting some softening in demand and delayed decision-making by members for some of the company's more comprehensive enterprise license agreement and consulting services engagements mainly due to the current macro-economic environment.
- As a result of the aforementioned revisions to its segment-level revenue guidance, the company currently expects total net revenue to be in the range of $1.34 billion to $1.39 billion.
- Lowering adjusted EBITDA to a range of $490 million to $510 million and adjusted EPS to a range of $2.43 to $2.55 vs. $2.55 consensus
For further details see:
Premier Non-GAAP EPS of $0.58 in-line, revenue of $322.23M misses by $31.07M