AmerisourceBergen Corp Earnings Cheat Sheet: Positive Earnings Streak

S&P 500 (NYSE:SPY) component AmerisourceBergen Corporation (NYSE:ABC) reported its results for the fourth quarter. AmerisourceBergen is a pharmaceutical services company providing drug distribution and related healthcare services to pharmacy, physician, and manufacturer customers based in North America.

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AmerisourceBergen Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the drug wholesaler rose to $147.3 million (54 cents per share) vs. $141.2 million (50 cents per share) in the same quarter a year earlier. This marks a rise of 4.3% from the year earlier quarter.

Revenue: Rose 3.5% to $20.41 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: ABC fell short of the mean analyst estimate of 56 cents per share. Analysts were expecting revenue of $20.18 billion.

Quoting Management: “Solid results across all of our business units drove excellent performance in the September quarter and in our full fiscal year 2011, resulting in another strong year in a series of very strong years,” said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer. “Outstanding performance in the two key growth drivers for our business-generic pharmaceuticals and specialty distribution and services, continues to drive gross margin expansion which resulted in significant operating margin expansion for the sixth year in a row. We are confident that our differentiated service and product offerings, our diverse customer base, and our focus on innovation, efficiency and productivity will drive success in the years ahead.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the third quarter, net income rose 13% and in the second quarter, the figure rose 18.4%.

Revenue has risen the past four quarters. Revenue increased 2.9% to $20.16 billion in the third quarter. The figure rose 2.4% in the second quarter from the year earlier and climbed 2.9% in the first quarter from the year-ago quarter.

The company fell short of forecasts after beating estimates in the previous two quarters. In the third quarter, it topped the mark by 2 cents, and in the second quarter, it was ahead by 8 cents.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from 62 cents a share to 61 cents over the last ninety days. For the fiscal year, the average estimate has moved up from $2.55 a share to $2.56 over the last seven days.

Competitors to Watch: McKesson Corporation (NYSE:MCK), Cardinal Health, Inc. (NYSE:CAH), Henry Schein, Inc. (NASDAQ:HSIC), Omnicare, Inc. (NYSE:OCR), BioScrip Inc. (NASDAQ:BIOS), Grupo Casa Saba, S.A. (NYSE:SAB), Owens & Minor, Inc. (NYSE:OMI), Patterson Companies, Inc. (NASDAQ:PDCO), PSS World Medical, Inc. (NASDAQ:PSSI), and MWI Veterinary Supply, Inc. (NASDAQ:MWIV).

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(Source: Xignite Financials)

 

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