CHESTERBROOK, Pennsylvania — AmerisourceBergen Corp. (ABC) on Thursday reported fiscal third-quarter net income of $214.2 million, after reporting a loss in the same period a year earlier.
The Chesterbrook, Pennsylvania-based company said it had profit of 89 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $1.20 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The prescription drug distributor posted revenue of $34.23 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $33.9 billion.
AmerisourceBergen expects full-year earnings in the range of $4.92 to $4.97 per share.
AmerisourceBergen shares have increased 27 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 3 percent. The stock has increased 59 percent in the last 12 months.
Keywords: AmerisourceBergen, Earnings Report