AmerisourceBergen Lifts 2023 Forecast On Higher Demand For Weight-Loss and Diabetes Products, Cushioning Lower COVID-19 Sales
Portfolio Pulse from Vandana Singh
AmerisourceBergen Corporation (NYSE:ABC) has raised its FY23 forecast due to higher demand for weight-loss and diabetes products, offsetting lower COVID-19 sales. Q3 FY23 adjusted EPS was $2.92, up 11.5% Y/Y, beating the consensus of $2.83. Revenue of $66.5 billion increased by 11.5% Y/Y, beating the analyst consensus of $63.37 billion. The company will change its name to Cencora Inc and begin trading under the ticker symbol 'COR' on NYSE on August 30, 2023. ABC shares are up 0.40% at $189.85.
August 04, 2023 | 11:30 am
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AmerisourceBergen's raised FY23 forecast and strong Q3 results, driven by higher demand for weight-loss and diabetes products, could positively impact its stock. The company will also change its name and ticker symbol, which could influence investor sentiment.
AmerisourceBergen's strong Q3 results and raised FY23 forecast indicate a positive financial performance, which could attract investors and drive up its stock price. The upcoming name and ticker symbol change could also influence investor sentiment and impact the stock.
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