AmerisourceBergen Boosts Fiscal Year Earnings Forecast
02 June 2021 - 9:58PM
Dow Jones News
By Robb M. Stewart
AmerisourceBergen Corp. on Wednesday raised its annual earnings
forecast following the completion of its purchase of the majority
of Walgreens Boots Alliance Inc.'s Alliance Healthcare businesses
for $6.275 billion in cash and two million shares.
The drug distributor said it now expects adjusted earnings of
between $8.90 and $9.10 a share for fiscal 2021, where it
previously anticipated $8.45 to $8.60.
Revenue for the year is expected to be at least $210 billion,
compared with earlier guidance for growth in the high-single-digits
percent range, AmerisourceBergen said. The company logged revenue
of $189.9 billion in fiscal 2020.
AmerisourceBergen said it continues to have a strong performance
across its businesses.
With the completion of the sale of its Alliance Healthcare
businesses, Walgreens Boots said it would use the proceeds to
reduce debt and accelerate growth of its core retail pharmacy and
healthcare businesses.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
June 02, 2021 07:51 ET (11:51 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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