AmerisourceBergen Boosts 2023 Earnings Outlook, As Q2 Profits, Sales Beat Estimates

AmerisourceBergen Corp's ABC Q2 FY23 adjusted EPS reached $3.50, up 8.7% Y/Y, beating the consensus of $3.29.

Revenue of $63.5 billion increased by 9.9% Y/Y, beating the analyst consensus of $60.4 billion, reflecting an 11.3% increase in U.S.
Healthcare Solutions revenue and a 0.2% decrease in revenue within International Healthcare Solutions.
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Adjusted gross profit was $2.4 billion, up 6.2% Y/Y, with the margin down 13 basis points to 3.71%.
Adjusted operating income increased by 1.7% to $932.1 million, and the margin decreased by 12 basis points to 1.47%.
FY23 Guidance: AmerisourceBergen raised its fiscal year 2023 financial guidance primarily to reflect stronger core growth in the U.S. Healthcare Solutions segment
It forecasts FY23 adjusted EPS guidance to $11.70-$11.90, up from prior guidance of $11.50-$11.75, compared to the consensus of $11.63.
The Conshohocken, Pennsylvania-based company expects revenue growth of 6%-8%, up from the previous range of 5%-7%. U.S. Healthcare Solutions revenue to grow between 7%-8%, narrowed from the previous range of 6%-8%.

Price Action: ABC shares are up 0.84% at $168.50 when the market opened Tuesday, and were up 1.9% at the time of writing.