- Prime Minister’s Press Release (NASDAQ:PINC): Third quarter non-GAAP earnings per share of $0.55 Beat $0.07.
- Revenue was $342.6 million (6.3% annual growth) Beat $24.09 million.
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Based on financial performance for the nine months ended March 31, 2024, current understanding of the macro environment and For the remainder of the fiscal year, the company Restated the following fiscal year 2024 guidance ranges:
Guidance indicators
Fiscal Year 2024 Guidance Range** (as of May 7, 2024)
Divisional net income:
Supply chain services
US$840 million to US$880 million
Performance service
US$425 million to US$445 million
total net income
$1.265B to $1.325B vs. $1.30B consensus
Adjusted advance profit after interest, tax, depreciation and amortization
US$405 million to US$425 million
Adjusted earnings per share
$2.06 to $2.18 vs consensus $2.15
Fiscal 2024 guidance is based on the achievement of the following key assumptions:
- Net management fee income ranges from US$588 million to US$603 million
- Directly purchased product revenue of $207 million to $222 million
- Supply chain services segment software licensing, other services and support revenue of $45 million to $55 million
- Capital expenditures of $93 million to $103 million
- Effective income tax rates are in the range of 26-28%
- Free cash flow of 45% to 55% of Adjusted EBITDA, excluding the tax impact associated with the sale of non-healthcare GPO businesses
- Includes the expected impact on fiscal 2024 of an initial $400 million in accelerated share repurchase transactions under the $1 billion share repurchase authorization
