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May 5, 2021, 6:42 a.m. EDT

AmerisourceBergen stock falls after profit beats forecasts but revenue was a bit light

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By Tomi Kilgore

Shares of AmerisourceBergen Corp. /zigman2/quotes/201066379/composite ABC -2.60% fell 0.7% in premarket trading Wednesday, after the pharmaceuticals and health care products company reported a first-quarter profit that beat expectations but revenue that came up a bit light. Net income fell to $435.3 million, or $2.10 a share, from $960.3 million, or $4.64 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $2.53 from $2.40, to top the FactSet consensus of $2.48. Revenue increased 3.7% to $49.15 billion, below the FactSet consensus of $49.98 billion. Pharmaceutical distribution services revenue grew 3.4% to $47.1 billion, as specialty product sales, including COVID-19 treatments, increased, but missed expectations of $47.4 billion. Cost of goods sold rose 3.5% to $47.62 billion. For 2021, the company revised its adjusted EPS guidance range up to $8.45 to $8.60 from $8.40 to $8.60. The stock has rallied 28.7% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.27% gained 10.9%.

/zigman2/quotes/201066379/composite
US : U.S.: NYSE
$ 120.23
-3.21 -2.60%
Volume: 613,655
Nov. 26, 2021 1:10p
P/E Ratio
16.27
Dividend Yield
1.53%
Market Cap
$25.65 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
4,594.62
-106.84 -2.27%
Volume: 2.10B
Nov. 26, 2021 2:12p
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