AmerisourceBergen profit falls but tops estimates for Q4

AmerisourceBergen Corp. said Thursday it had net income of $294.7 million, or $1.40 a share, for its fiscal fourth quarter to Sept. 30, down from $437.7 million, or $2.08 a share, in the year-earlier period. Adjusted per-share earnings came to $2.60, ahead of the $2.57 FactSet consensus. Revenue rose 3.8% to $61.2 billion from $58.9 billion a year ago, also head of the $60.5 billion FactSet consensus. Revenue at the drug distribution company's U.S. healthcare solutions segment rose 4.7%, while revenue at its international healthcare solutions fell 2.7%, weighed down by the strong dollar. The company is still expecting fiscal 2023 adjusted EPS of $11.30 to $11.60, the guidance it offered at a June investor day. Shares were not yet active premarket, but have gained 16% in the year to date, while the S&P 500 has fallen 21%.

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