AmerisourceBergen Corporation (ABC) Q1 2023 Earnings Call Transcript

For the period ending December 31, 2022

February 1, 2023 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, everyone, and welcome to the AmerisourceBergen Q1 FY 2023 Earnings Conference Call. My name is Bruno and I will be operating your call today.

I will now hand over to your host, Mr. Bennett Murphy. Mr. Bennett. Please go ahead.

Bennett Murphy - Senior Vice President, Head of IR & Treasury

Thank you. Good morning, good afternoon, and thank you all for joining us for this conference call to discuss AmerisourceBergen's fiscal 2023 first quarter results. I am Bennett Murphy, Senior Vice President, Head of Investor Relations and Treasury. Joining me today are Steve Collis, Chairman, President and CEO; and Jim Cleary, Executive Vice President and CFO.

On today's call, we will be discussing non-GAAP financial measures. Reconciliation of these measures to GAAP are provided in today's press release, which is available on our website at investor.amerisourcebergen.com. We've also posted a slide presentation to accompany today's press release on our investor website.

During the conference call, we will make forward-looking statements about our business and financial expectations on an adjusted non-GAAP basis, including, but not limited to, EPS, operating income, and income taxes.

Forward-looking statements are based on management's current expectations and are subject to uncertainty and change. For a discussion of key risks and assumptions, we refer you to today's press release and our SEC filings, including our most recent 10-K.

AmerisourceBergen assumes no obligation to update any forward-looking statements, and this call cannot be rebroadcast without the expressed permission of the company. You will have an opportunity to ask questions after today’s remarks by management and we ask that you limit your questions to one per participant in order for us to get to as many participants as possible within the hour.

With that, I'll turn the call over to Steve.

Steve Collis - Chairman, President, & CEO

Thank you, Bennett. Good morning and good afternoon to everyone on the call. Today, we will discuss AmerisourceBergen's fiscal 2023 first quarter results, our future under a new unified identity, and our impact from our position at the center of global pharmaceutical innovation and access.

In the first quarter of fiscal 2023, we delivered solid financial results, with revenue of nearly $63 billion, representing 5% growth on a year-over-year basis along with adjusted EPS growth of 5%. These results reflect the resilience of our business as we focus on execution excellence, provided value-added solutions to our customers, and benefited from our strong market position.