Premier (PINC) Tops Q1 EPS by 5c, Revenues Miss

Premier (NASDAQ: PINC) reported Q1 EPS of $0.65, $0.05 better than the analyst estimate of $0.60. Revenue for the quarter came in at $401.5 million versus the consensus estimate of $411.67 million.

“Premier delivered a successful fiscal first quarter, exceeding management’s revenue and profit growth expectations for our individual segments and for the company as a whole under the new revenue recognition standard,” said Susan DeVore, president and chief executive officer. “We delivered steady revenue growth in our Supply Chain Services and Performance Services segments, driven by our group purchasing, consulting and technology businesses.

“Our financial outlook for the year remains intact,” DeVore said. “We continue to view fiscal 2019 as a year of steady growth and are adjusting our previously issued guidance solely to reflect the impact of our adoption of the new revenue recognition standard.

“We believe Premier remains uniquely well-positioned in this evolving environment as we continue to build and expand our comprehensive total-value proposition aligned with the growing needs of our healthcare providers,” DeVore continued. “Our strong balance sheet and cash flow allow us to continue to execute our strategies as we strive to deliver lasting value for our stockholders.”

For earnings history and earnings-related data on Premier (PINC) click here.

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