AmerisourceBergen reports Q3 revenue up 12.8%

VALLEY FORGE, Pa. — AmerisourceBergen Corp. reported Thursday that revenue rose 12.8% to $34.2 billion for its third quarter of fiscal 2015, partially due to the onboarding of the new Walgreens Boots Alliance generic pharmaceuticals business and the solid organic sales growth in its independent pharmacy business.



“Strong performance in our June quarter positions us very well to meet our financial and strategic objectives for the full year,” said Steven Collis, AmerisourceBergen president and CEO. “Our outstanding cash generation, the investments we have made and will continue to make in improving our infrastructure and capabilities, and the strength of our presence in key growing markets has put us on course to deliver adjusted earnings per share growth of over 20% for the second consecutive year. While it is still early in our planning process and there are many moving parts, we see a pathway to building on that performance and achieving adjusted earnings per share growth in the low-teens range for fiscal 2016.”



For the third quarter of fiscal 2015, the pharmaceutical distributor reported that total revenue reflected a 9% increase in AmerisourceBergen Drug Corporation revenue, and a 22% increase in AmerisourceBergen Specialty Group revenue. ABDC revenues increased primarily due to the onboarding of the new Walgreens Boots Alliance generic pharmaceuticals business and solid organic sales growth in its independent pharmacy, alternate site, and health systems customers. ABSG revenues were driven by strong performance in blood products, vaccine and physician office distribution businesses, the impact of manufacturer shifts of certain oncology products from full line distribution to specialty distribution, and an increase in sales to community oncology practices.



Gross profit in the fiscal 2015 third quarter was $1.0 billion, a 22.4% increase over the same period in the previous year, driven by strong revenue growth in ABDC and ABSG, and the addition of a full quarter of results from MWI Veterinary Supply.



For fiscal 2015, AmerisourceBergen expects adjusted diluted earnings per share in the range of $4.92 to $4.97 and revenue growth in the range of 12% to 13%.