Premier (PINC) Tops Q1 EPS by 8c

Premier (NASDAQ: PINC) reported Q1 EPS of $0.57, $0.08 better than the analyst estimate of $0.49. Revenue for the quarter came in at $346.9 million versus the consensus estimate of $305.72 million.

"Our fiscal 2021 first quarter results reflect solid execution and the differentiated value we bring to our members," said Susan DeVore, Premier's chief executive officer. "Revenue growth in our Supply Chain Services segment was driven by our direct sourcing business as critical supplies remain in high demand as a result of the ongoing COVID-19 pandemic. We are especially pleased with the performance of our Performance Services segment, where revenue grew 18%, driven mainly by growth across our technology businesses.

"Our businesses continue to be affected by the COVID-19 pandemic, and we are managing through this challenging and evolving environment as effectively as we can," DeVore continued. "We remain focused on helping health care providers navigate through the pandemic while, at the same time, further positioning Premier for long-term, sustainable growth by executing on our technology-enabled, end-to-end supply chain and enterprise analytics and performance improvement strategies."

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

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