AmerisourceBergen Stock Gains As Q3 Earnings Tops Wall Street Estimates; Raises FY21 EPS Guidance

AmerisourceBergen Corporation's ABC Q3 for fiscal 2021 reports an adjusted EPS of $2.16, topping the analyst consensus estimate of $2.03.
Revenue of $53.4 billion increased 17.7% Y/Y, beating the analyst consensus estimate of $52.05 billion.
Pharmaceutical distribution services revenue grew 13.2% to $49.3 billion on sales of COVID-19 treatments and overall market growth.
The cost of goods sold rose 3.5% to $47.62 billion.
Adjusted operating income increased 24.3% to $630.6 million.
FY21 Guidance: ABC raised adjusted EPS guidance to $9.15 - $9.30 (consensus $9.03), up from $8.90 to $9.10 expected previously.
It expects an adjusted operating income of approximately $2.6 billion, up from growth in the high-single-digit percent range, and an adjusted free cash flow of roughly $1.7 billion.
Price Action: ABC shares are up 2.17% at $126.40 on the last check Wednesday.