AmerisourceBergen Corporation - ABC STOCK NEWS

Walgreens Boots Alliance (WBA) has sold shares of AmerisourceBergen Corporation (ABC) for approximately $1.0 billion, with $0.8 billion from a Rule 144 sale and a $0.2 billion concurrent repurchase by AmerisourceBergen. WBA's ownership in ABC decreases from about 20% to 17%. Proceeds will primarily be allocated to debt reduction and funding strategic initiatives, particularly the acquisition of Summit Health-CityMD by VillageMD. WBA's long-term partnership with ABC remains unaffected.

AmerisourceBergen Corporation (NYSE: ABC) has appointed Dr. Redonda Miller as an independent director, effective January 1, 2023. Dr. Miller, a healthcare leader and president of The Johns Hopkins Hospital since 2016, brings valuable experience in healthcare and business. Her expertise is expected to enhance AmerisourceBergen’s objectives of promoting healthier futures in the community. The company, ranked #10 on the Fortune 500 with over $200 billion in annual revenue, aims to leverage Dr. Miller's insights for strategic growth and stakeholder engagement.

Walgreens Boots Alliance has initiated an offering of 10 million shares of AmerisourceBergen Corporation stock, alongside a concurrent $500 million share repurchase by AmerisourceBergen. Post-offering, Walgreens' stake in AmerisourceBergen will decrease from 26% to 20%. The proceeds will predominantly be used for debt paydown and to support strategic priorities, including acquisitions.

AmerisourceBergen Corporation (NYSE: ABC) announced a secondary public offering of 10 million shares of common stock from Walgreens Boots Alliance Holdings LLC, with no proceeds going to AmerisourceBergen. The offering, expected to close around November 10, 2022, is underwritten by Morgan Stanley & Co. LLC. Concurrently, AmerisourceBergen plans to repurchase approximately $500 million shares from the Selling Stockholder under its share repurchase program. The offering is outlined in an effective registration statement with the SEC.

AmerisourceBergen reported a 3.8% increase in revenue for Q4 of fiscal 2022, reaching $61.2 billion. For the full fiscal year 2022, revenue grew 11.5% to $238.6 billion. GAAP diluted EPS for Q4 was $1.40, down from $2.08 YoY, while adjusted diluted EPS rose 8.8% to $2.60. The company faced a 4.1% decline in gross profit to $2.0 billion and operating income decreased to $455 million. The fiscal year saw diluted EPS at $8.04, with adjusted EPS increasing 19.1% to $11.03.

AmerisourceBergen Corporation (NYSE: ABC) plans to release its Fourth Quarter Fiscal 2022 results on November 3, 2022, before market opening. A conference call will follow at 8:30 a.m. ET on the same day, featuring CEO Steven H. Collis and CFO James F. Cleary. Investors can access the call via telephone or through the company’s website. AmerisourceBergen is a major player in healthcare, with over $200 billion in annual revenue and ranked #10 on the Fortune 500.

AmerisourceBergen Corporation (NYSE: ABC) appointed Dr. Lorence H. Kim as an independent director, effective October 1, 2022, expanding its Board to 11 members. Dr. Kim brings extensive experience in finance and healthcare, having served as CFO of Moderna and worked at Goldman Sachs. His background is expected to enhance the Board's strategic direction, fostering growth and innovation in pharmaceutical distribution. AmerisourceBergen ranks #10 on the Fortune 500, with over $200 billion in annual revenue, focused on creating healthier futures through efficient healthcare solutions.

AmerisourceBergen Corporation (NYSE: ABC) announced its acquisition of PharmaLex Holding GmbH for €1.28 billion, enhancing its global biopharmaceutical services. This strategic deal aims to solidify AmerisourceBergen’s position as a key partner for biopharmaceutical manufacturers by providing comprehensive support throughout the drug development and commercialization phases. The acquisition is projected to be accretive to adjusted diluted EPS by $0.15 for the last seven months of fiscal year 2023. Closing is expected by March 2023, pending regulatory approvals.

AmerisourceBergen Corporation (NYSE: ABC) reported a revenue increase of 12.5% year-over-year, totaling $60.1 billion for Q3 FY2022. The company’s GAAP diluted EPS rose to $1.92, compared to $1.40 in the same quarter last year. Adjusted diluted EPS also saw a significant increase of 21.3%, reaching $2.62 from $2.16 in Q3 FY2021. Following these results, the company raised its adjusted diluted EPS guidance range for FY2022 to between $10.90 and $11.10.