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AmerisourceBergen Sells Canada Unit, Lifts EPS Guidance

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AmerisourceBergen (NYSE: ABC  ) has inked an agreement to divest its Canadian pharmaceutical distribution unit, AmerisourceBergen Canada. The buyer is Kohl & Frisch, a distributor based in that country, and the expected sale price is $80 million-$100 million.

Roughly half of the sale amount will be financed by AmerisourceBergen. Because of this, the company expects to book a loss on sale of $160 million-$180 million in the current quarter.

The firm has also adjusted its guidance for fiscal 2013. It now anticipates that revenue growth will come in at 8%-10% on a year-over-year basis for the period,. It also hiked its expectations for EPS, believing that figure will be $3.04-$3.14, an increase from its previous guidance of $2.96-$3.06.

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Related Tickers

9/30/2016 10:11 AM
ABC $80.00 Down -1.25 -1.54%
AmerisourceBergen CAPS Rating: ****