NYSE$COR

Cencora Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

AmerisourceBergen reported strong fourth quarter and fiscal year 2021 results, marked by a revenue increase of 19.6% and adjusted diluted EPS growth of 26.5%.

AmerisourceBergen's Q4 2021 revenue increased by 19.6% to $58.9 billion. GAAP diluted EPS was $2.08, while adjusted diluted EPS increased by 26.5% to $2.39. The company's performance was driven by growth in Pharmaceutical Distribution Services and the acquisition of Alliance Healthcare.

  • Revenue increased 19.6% to $58.9 billion for the fourth quarter.
  • GAAP diluted EPS was $2.08 for the fourth quarter.
  • Adjusted diluted EPS increased 26.5% to $2.39 for the fourth quarter.
  • Revenue increased 12.7% to $214.0 billion for fiscal year 2021.

Headline financials

Total Revenue

$58.9B

Previous: $49.2B+19.6%
EPS (adj)

$2.39

Previous: $1.89+26.5%
Effective Tax Rate

21.2%

Previous: 21.1%+0.5%
Adj. Effective Tax Rate

20.3%

Previous: 21.7%-6.5%
Capital Expenditures

$165M

Previous: $119M+39.0%
Free Cash Flow

$845M

Previous: $1.18B-28.4%
Net Income

$438M

Previous: -$4.84B+109.0%
Operating Income

$562M

Previous: -$6.11B+109.2%
Gross Profit

$2.1B

Previous: $1.35B+55.9%
Cash & Equivalents

$2.55B

Previous: $4.6B-44.6%
Total Assets

$57.3B

Previous: $43.9B+30.5%
Stock-Based Comp

$18.1M

Previous: $16.8M+7.7%

Revenue & EPS history

Cencora · Revenue · Quarterly

$58.9B

Q4 2021+19.6%vs Q4 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

AmerisourceBergen has introduced its fiscal year 2022 financial guidance, which reflects growth in both of its new reportable segments.

Tailwinds

  • Revenue growth in the high-single digit to low-double digit percent range
  • U.S. Healthcare Solutions revenue in the range of $207 to $212 billion, representing growth of 2% to 5%
  • International Healthcare Solutions revenue of approximately $26 to $27 billion
  • Adjusted diluted earnings per share to be in the range of $10.50 to $10.80
  • Adjusted operating income growth in the mid- to high-teens percent range

Headwinds

  • Interest expense growth to be in the mid-teens percent range
  • Adjusted effective tax rate to be approximately 21 percent to 22 percent
  • Adjusted free cash flow to be approximately $2 to $2.5 billion
  • Capital expenditures in the $500 million range
  • Weighted average diluted shares are expected to be approximately 212 million for the fiscal year

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-0.1%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+1.4%

Avg return

30 days after

48%

35 / 73 earnings

Positive

+7.8%

Q2 2019

Best reaction

-18.4%

Q2 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-18.4%-16.6%-10.1%
Q1 2026-5.9%+0.4%-0.9%
Q4 2025+2.9%+5.8%-1.4%
Q3 2025-2.9%-0.6%+0.1%
Q2 2025+4.6%-4.3%-0.6%
Q1 2025+0.7%-2.1%+1.2%
Q4 2024+5.9%+6.5%+4.0%
Q3 2024+5.8%+4.4%+3.7%
Q2 2024-6.0%-6.3%-5.2%
Q1 2024+7.4%+6.2%+7.5%
Q4 2023+4.2%+4.7%+9.0%
Q3 2023+1.2%-1.3%-7.5%
Q2 2023+0.1%+0.7%+3.5%
Q1 2023-6.2%-8.6%-7.6%
Q4 2022+4.4%+3.1%+12.4%
Q3 2022-2.5%-1.5%+3.4%
Q2 2022+2.9%+4.4%-2.5%
Q1 2022+0.2%+1.3%+7.0%
Q4 2021-0.6%-2.8%-9.0%
Q3 2021-1.5%-2.8%+1.2%
Q2 2021-6.5%-2.1%-7.1%
Q1 2021+3.9%+1.8%-0.7%
Q4 2020-1.0%+4.8%-1.9%
Q3 2020-3.0%-1.6%-7.7%
Q2 2020+3.0%+3.6%+15.8%
Q1 2020-4.8%-2.0%-6.2%
Q4 2019+1.6%+1.0%+4.2%
Q3 2019+3.8%-3.5%-5.6%
Q2 2019+7.8%+5.5%+6.1%
Q1 2019+6.7%+9.2%+5.7%
Q4 2018-2.3%+0.3%-2.9%
Q3 2018+1.9%+5.0%+13.2%
Q2 2018-4.3%-5.1%-6.6%
Q1 2018+2.5%-2.9%+4.7%
Q4 2017-2.4%-2.2%+10.9%
Q3 2017-11.4%-12.0%-12.1%
Q2 2017+3.9%+5.9%+13.2%
Q1 2017+6.0%+6.8%+9.9%
Q4 2016+3.6%+3.1%+12.9%
Q3 2016+5.1%+4.5%+1.9%
Q2 2016-9.2%
Q1 2016-3.7%
Q4 2015-1.0%
Q3 2015-5.4%
Q2 2015+1.9%
Q1 2015+0.4%
Q4 2014+7.1%
Q3 2014+3.7%
Q2 2014-3.1%
Q1 2014-4.3%
Q4 2013+1.8%
Q3 2013-0.0%
Q2 2013-4.6%
Q1 2013-5.1%
Q4 2012-0.6%
Q3 2012+2.7%
Q2 2012-1.2%
Q1 2012+2.4%
Q4 2011-1.0%
Q3 2011-0.5%
Q2 2011+2.9%
Q1 2011+0.5%
Q4 2010-0.5%
Q3 2010-0.7%
Q2 2010+1.0%
Q1 2009-1.7%
Q1 2010+1.2%
Q4 2009-0.6%
Q2 2009-0.6%
Q4 2007-0.6%
Q3 2008-0.5%
Q3 2009-0.5%
Q4 2008-0.5%

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