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AmerisourceBergen fiscal Q1 profit climbs 14% YOY

AmerisourceBergen Corp. said its non-GAAP net income for the fiscal first quarter ended Dec. 31, 2017, came to $1.55 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.35 per share.

Adjusted EPS rose 14% year over year from $1.36 in the comparable, year-ago fiscal year.

On an aggregate basis, non-GAAP net income was up 13.4% year over year to $342.4 million.

Net revenue rose 6.0% year over year to $40.47 billion from $38.17 billion.

The Valley Forge, Pa.-based drug wholesale company's GAAP net income more than doubled year over year to $861.9 million, or $3.90 per share, from $247.2 million, or $1.11 per share, in the corresponding quarter of the last fiscal year.

GAAP results were driven by a benefit from the U.S. tax reform.

In reporting results, the company said it expects non-GAAP earnings per share in the range of $6.45 to $6.65 for the fiscal full year, up from previous guidance in the range of $5.90 to $6.15.