AmerisourceBergen Corporation - ABC STOCK NEWS

Seefried Properties has begun construction on a new 80,053 square foot distribution facility in Mount Prospect, Illinois, strategically located near O'Hare Airport. This Class A facility will include features for freight-forwarding and air cargo warehousing. Within a week of breaking ground, World Courier Inc. has signed a lease for 34,011 square feet. With vacancy rates in Chicago at record lows, Seefried aims to expand its offerings in the Midwest, with 46,042 square feet still available for lease. The project showcases the company's ongoing commitment to developing industrial properties.

AmerisourceBergen Corporation (NYSE: ABC) hosted an investor day in New York City, highlighting its strategy for sustainable growth in healthcare solutions. CEO Steven H. Collis emphasized the company’s role in pharmaceutical distribution and its investments in higher-margin services. The firm outlined five strategic imperatives aimed at enhancing operational efficiency and expanding its specialty services. For FY2022, it forecasted adjusted diluted EPS between $10.80 and $11.05, with adjusted operating income growth anticipated at 5-8%. The company also has a $1 billion share repurchase authorization.

AmerisourceBergen Corporation (NYSE: ABC) reiterated its fiscal 2022 guidance, projecting adjusted diluted earnings per share in the range of $10.80 to $11.05. The Board authorized a $1.0 billion share repurchase program, which is independent of this guidance. The company's Investor Day is scheduled for June 1, 2022, focusing on strategic imperatives and ESG commitments.

AmerisourceBergen Corporation (NYSE: ABC) has announced the resumption of share repurchases, leveraging excess free cash flow as part of its disciplined capital allocation strategy. The company is committed to retaining its investment grade credit ratings while planning to pay down $2 billion in debt by March 2023, ahead of the two-year timeline following the acquisition of Alliance Healthcare in June 2021.

Walgreens Boots Alliance has sold 6.0 million shares of AmerisourceBergen Corporation for $900 million, reducing its stake from 28.1% to 25.2%. The proceeds will primarily be allocated for debt paydown and supporting strategic initiatives. Despite the sale, Walgreens maintains its long-term partnership with AmerisourceBergen, ensuring ongoing collaboration. This strategic move aims to optimize capital allocation and enhance the company's balance sheet, reflecting a commitment to shareholder value.

AmerisourceBergen reported a 17.4% revenue increase year-over-year for Q2, reaching $57.7 billion. The company's GAAP diluted EPS was $2.59, up from $2.10 in the previous year. Adjusted diluted EPS rose 27.3% to $3.22. The firm has raised its adjusted diluted EPS guidance for fiscal 2022 to a range of $10.80 to $11.05.

AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK) have settled opioid-related claims with the Washington Attorney General, agreeing to pay up to $518 million. This payment resolves lawsuits filed by the state and its subdivisions, allowing for the dismissal of ongoing litigation. The settlement aligns with a previously announced agreement effective April 2, 2022, aimed at addressing a significant portion of opioid claims against the distributors. The companies dispute the allegations but see this as steps toward broader resolutions and relief for impacted communities.

AmerisourceBergen Corporation (NYSE: ABC) will announce its Q2 Fiscal 2022 results on May 4, 2022, before NYSE trading begins. A conference call led by CEO Steven H. Collis and CFO James F. Cleary will follow at 8:30 a.m. ET. Participants can join via webcast on the company's investor site or by phone, with replays available post-call. Additionally, AmerisourceBergen will host an Investor Day on June 1, 2022, in New York City. The company ranks #8 on the Fortune 500 with over $200 billion in annual revenue.

Settlement Announcement: AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK) have reached an agreement to settle the majority of opioid lawsuits with participation from 46 of 49 eligible states and over 90% of litigating political subdivisions. The settlement totals approximately $19.5 billion to be distributed over 18 years, with individual contributions of $6.1 billion, $6.0 billion, and $7.4 billion from AmerisourceBergen, Cardinal Health, and McKesson, respectively. The agreement aims to provide relief to communities affected by the opioid crisis.