AmerisourceBergen Corp.’s ABC stock rose 0.6% before market open Wednesday after the drug distribution giant reported first-quarter results that beat analysts’ revenue expectations and raised its guidance. The company posted net income of $479.8 million, or $2.33 a share, up from $449.1 million, or $2.13 a share in the year-ago period. Adjusted per-share earnings came to $2.71, ahead of the FactSet consensus of $2.64. Revenue rose to $62.8 billion, up 5.4% from the same period last year, and in line with the FactSet consensus. AmeriSource Bergen now sees full-year adjusted EPS of $11.50 to $11.75, up from its prior estimate of $11.30 to $11.60. “AmerisourceBergen delivered another quarter of solid results, and we are pleased to raise our full year outlook as a testament to our value creating approach to capital deployment and the resilience of our business,” said AmerisourceBergen CEO Steven Collis, in a statement.
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