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Premier updates FY'18 guidance

Premier Inc. raised its non-GAAP adjusted fully distributed EPS outlook to reflect expectations of the beneficial impact of the U.S. tax reform and the full implementation of the company's previously announced $200 million stock repurchase program.

The company is now expecting non-GAAP adjusted fully distributed EPS of $2.24 to $2.37, compared with the previously expected range of $1.98 to $2.09.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal year is $2.13.

For its fiscal 2018 second quarter, Premier reported non-GAAP adjusted fully distributed net income of $70.0 million, or 50 cents per share, up from $65.2 million, or 46 cents per share, in the prior-year fiscal quarter.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal second quarter was 48 cents.