CHESTERBROOK, Pennsylvania — AmerisourceBergen Corp. (ABC) on Wednesday reported a fiscal first-quarter loss of $199.9 million, after reporting a profit in the same period a year earlier.
The Chesterbrook, Pennsylvania-based company said it had a loss of 91 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $1.14 per share.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The prescription drug distributor posted revenue of $33.59 billion in the period, also exceeding Street forecasts. Analysts expected $31.59 billion, according to Zacks.
AmerisourceBergen expects full-year earnings in the range of $4.45 to $4.55 per share.
AmerisourceBergen shares have climbed slightly more than 6 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen slightly more than 1 percent. The stock has increased 44 percent in the last 12 months.
Keywords: AmerisourceBergen, Earnings Report