VALLEY FORGE, PA — AmerisourceBergen Corporation (NYSE: ABC) recently updated its fiscal year 2021 financial guidance to reflect the Company’s continued strong operating income performance. The Company will be participating in upcoming investor discussions in which the updated outlook for fiscal year 2021 will be discussed.
This updated financial guidance does not include any contribution from the proposed Alliance Healthcare acquisition or any incremental growth from the expanded U.S. partnership announced today. The Company currently expects:
- Adjusted diluted earnings per share to be in the range of $8.25 to $8.50, up from the previous range of $8.20 to $8.45.
All other previously communicated aspects of the Company’s fiscal year 2021 financial guidance and assumptions remain the same.
Supplemental Information Regarding Non-GAAP Adjusted Diluted Earnings Per Share
Adjusted diluted earnings per share is a non-GAAP financial measure. This non-GAAP financial measure should be viewed in addition to, and not in lieu of, financial measures calculated in accordance with GAAP. This supplemental measure may vary from, and may not be comparable to, similarly titled measures by other companies.
This non-GAAP financial measure is presented because management uses this non-GAAP financial measure to evaluate the Company’s operating performance, to perform financial planning, and to determine incentive compensation. Therefore, the Company believes that the presentation of this non-GAAP financial measure provides useful supplementary information to, and facilitates additional analysis by, investors.
The non-GAAP fiscal year 2021 guidance for adjusted diluted earnings per share excludes significant items that are outside the control of the Company or inherently unusual, non-operating, unpredictable, non-recurring or non-cash in nature. The Company does not provide forward looking guidance on a GAAP basis for such metric because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated.
For fiscal year 2021, adjusted diluted earnings per share excludes the per share impact of certain adjustments including gain from antitrust litigation settlements; LIFO expense (credit); acquisition-related intangibles amortization; and employee severance, litigation, and other; in each case net of the tax effect calculated using the applicable effective tax rate for those items. Management believes that this non-GAAP financial measure is useful to investors because it eliminates the per share impact of the items that are outside the control of the Company or that we consider to not be indicative of our ongoing operating performance due to their inherent unusual, non-operating, unpredictable, non-recurring, or non-cash nature.
Thanks for visiting! MyChesCo brings reliable information and resources to Chester County, Pennsylvania. Please consider supporting us in our efforts. Your generous donation will help us continue this work and keep it free of charge. Show your support today by clicking here and becoming a patron.