AmerisourceBergen Boosts Fiscal Year Earnings Forecast

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)

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