AmerisourceBergen Corp (ABC) released its second quarter results on Thursday, May 6, 2021. The company reported net earnings of $2.10 per share for the second quarter ending March 31, 2021. Earnings for this past quarter declined 55 percent compared to the same period a year ago.
AmerisourceBergen Corporation was founded in 1985 and is headquartered in Chesterbrook, Pennsylvania. AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
AmerisourceBergen's revenue increased 5 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 3.12% for the second quarter compared to the same period in the previous year, and operating margins increased to 1.43% over the same period. Net earnings for past trailing twelve months were $-3746.52 million, down 337% from the prior year.
Moving on to the balance sheet, AmerisourceBergen's cash levels jumped 80% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 10.7% this past year. The current ratio for AmerisourceBergen now stands at 1.07. The company decreased shares outstanding by 0.53%.
Shares of ABC are currently trading around $117.63. In terms of valuation, the stock is trading at a price to book ratio of nan.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Friday, May 7, 2021.