AmerisourceBergen Lifts FY22 Guidance As Q2 Earnings Beats Estimates

AmerisourceBergen Corp's ABC Q2 FY22 adjusted EPS reached $3.22, up 27.3% Y/Y, beating the consensus of $2.93.
Revenue of $57.7 billion increased by 17.4% Y/Y, beating the analyst consensus of $57.27 billion, reflecting a 585.3% increase in revenue within International Healthcare Solutions, primarily driven by the June 2021 acquisition of Alliance Healthcare and a 5.8% increase in U.S. Healthcare Solutions revenue.
Adjusted gross profit was $2.2 billion, up 46.6% Y/Y, with the margin expanding 76 basis points to 3.84%.
Adjusted operating income increased 29.7% to $916.6 million, and the margin improved 15 basis points to 1.59%.
The company's quarterly cash dividend of $0.46 per share is payable on May 31 to stockholders of record on May 16.
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FY22 Guidance: AmerisourceBergen raised adjusted EPS guidance to $10.80 to $11.05, from the previous outlook of $10.60 - $10.90, compared to the consensus of $10.79.
The updated guidance reflects several of its businesses' stronger than expected performance.
The company expects adjusted operating income growth of at least in the high-teens percent range, up from growth in the high-teens percent range.
U.S. Healthcare Solutions' operating income to be $2.42 billion - $2.48 billion, up from the prior view of $2.375 billion - $2.45 billion.
Price Action: ABC shares traded 0.51% higher at $151.53 on the last check Wednesday.