Health and Healthcare
Why Premier Is Tuesday's Big Earnings Winner
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Premier Inc. (NASDAQ: PINC) reported its fiscal fourth-quarter results before the markets opened on Tuesday. The company posted $0.70 in earnings per share (EPS) and $434.0 million in revenue, while consensus estimates had called for $0.66 in EPS on revenue of $411.89 million. The same period of last year reportedly had EPS of $0.50 and $403.1 million in revenue.
During the latest quarter, Supply Chain Services segment revenue rose 10% to $339.2 million, and Performance Services segment revenue increased 2% to $94.8 million.
Looking ahead to the 2019 fiscal full year, the company expects to see EPS in the range of $2.60 to $2.72 and revenues between $1.721 billion and $1.787 billion. The consensus estimates are $2.26 in EPS and $1.64 billion in revenue.
Susan DeVore, president and CEO, commented:
Premier’s fourth quarter delivered a very successful finish to fiscal 2018, as stronger-than-anticipated revenue performance across our Supply Chain and Performance Services businesses produced earnings results that exceeded our expectations,” “These results capped a solid fiscal 2018 performance, once again demonstrating Premier’s consistent financial strength and operational excellence, which we believe solidify our continued leadership as we work with our nation’s health systems and other providers to transform healthcare delivery in America.
Shares of Premier were last seen up about 13% at $43.41, with a consensus analyst price target of $38.12 and a 52-week trading range of $27.15 to $45.31.
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