AmerisourceBergen Flat on Q3 Numbers
AmerisourceBergen Corp. (NYSE:ABC) lost a bit of ground on the basis of third-quarter financial figures Wednesday.
The Valley Forge, Pa.-based company reported revenue increased 0.3% year-over-year to $45.4 billion.
On the basis of U.S. generally accepted accounting principles (GAAP), diluted earnings per share (EPS) was $1.41 for the June quarter of fiscal 2020, compared to $1.43 in the prior year quarter. Adjusted diluted EPS, which is a non-GAAP measure that excludes items described below, increased 5.1% to $1.85 in the fiscal third quarter.
ABC raised its adjusted diluted EPS guidance for fiscal 2020 to a range of $7.80 to $7.95 from the previous range of $7.35 to $7.65. The Company does not provide forward-looking guidance on a GAAP basis, as discussed below in Fiscal Year 2020 Expectations.
Said CEO Steven Collis,"In the third quarter of the fiscal year, we saw the resilience of our business as our associates worked diligently to ensure continued patient access. Our updated outlook for fiscal 2020 reflects the continued execution by our teams and the strength of AmerisourceBergen's value proposition, deep partnerships and strategic positioning."
ABC also told investors its Board of Directors declared a quarterly cash dividend of $0.42 per common share, payable September 1, to stockholders of record at the close of business on August 17.
ABC docked 29 cents in price from its shares to $104.41.