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Dec 31, 2022
Cencora Q1 2023 Earnings Report
AmerisourceBergen reported a revenue increase of 5.4% year-over-year, with GAAP diluted EPS of $2.33 and adjusted diluted EPS of $2.71. The adjusted diluted EPS guidance range was raised to $11.50 to $11.75 for fiscal year 2023.
Key Takeaways
AmerisourceBergen reported a solid first quarter with a 5.4% increase in revenue to $62.8 billion. GAAP diluted EPS was $2.33, and adjusted diluted EPS increased by 5.0% to $2.71. The company raised its adjusted diluted EPS guidance for fiscal year 2023 to $11.50 to $11.75.
Revenue increased by 5.4% year-over-year to $62.8 billion.
GAAP diluted EPS was $2.33, compared to $2.13 in the prior year.
Adjusted diluted EPS increased by 5.0% to $2.71, from $2.58 in the prior year.
Adjusted diluted EPS guidance was raised to $11.50 to $11.75 for fiscal year 2023.
Forward Guidance
AmerisourceBergen is updating its fiscal year 2023 financial guidance to reflect a lower average diluted share count, the earlier-than-expected close of the Company’s acquisition of PharmaLex, updated foreign currency translation rates and incrementally lower expectations for COVID treatment contributions for the year. Adjusted Diluted Earnings Per Share to be in the range of $11.50 to $11.75.
Positive Outlook
- Adjusted Diluted Earnings Per Share to be in the range of $11.50 to $11.75, representing growth of 4 to 7 percent, raised from the previous range of $11.30 to $11.60
- On a constant currency basis, adjusted diluted earnings per share growth to be in the range of 6 to 9 percent, raised from the previous range of 4 to 7 percent
- Excluding contributions related to COVID-19, adjusted diluted earnings per share growth to be in the range of 9 to 11 percent, raised from the previous range of 7 to 9 percent
- On a constant currency basis excluding contributions related to COVID-19, adjusted diluted earnings per share growth to be in the range of 11 to 13 percent, raised from the previous range of 9 to 11 percent
- International Healthcare Solutions segment operating income to be in the range of a 3 percent decline to 1 percent growth, up from the previous range of a 7 to 3 percent decline
Challenges Ahead
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