Premier Inc (NASDAQ:PINC) has reported Q2 FY22 revenue of $379.2 million, down 10% Y/Y, exceeding the consensus of $347.71 million.
- Supply Chain Services segment revenue decreased 18% to $271.5 million. Products revenue of $111.8 million decreased 38% Y/Y, primarily driven by lower demand and pricing for personal protective equipment (PPE).
- Performance Services segment revenue increased 15% to $107.7 million, primarily driven by demand for enterprise analytics capabilities.
- Adjusted EBITDA of $263.7 million increased 12% Y/Y.
- Adjusted EPS improved 12% to $0.73, beating the consensus of $0.65.
- Guidance: Premier expects FY22 adjusted EPS of $2.45 - $2.55, lower than the analysts' consensus of $2.60 and the previous guidance of $2.56 - $2.66.
- Premier expects an effective income tax rate of 24% - 26% compared to its previous expectation of 21% for FY22.
- It sees FY22 sales of $1.40 billion - $1.44 billion, higher than the prior guidance of $1.32 billion - $1.43 billion, well below the consensus of 1.40 billion.
- Adjusted EBITDA guidance remains unchanged at $483 million - $500 million.
- Price Action: PINC shares traded 1.52% lower at $37.64 on the last check Tuesday.
