Brief: Premier Inc Reports Fiscal-Year 2023 Second-Quarter Results

Premier

07/02/2023 11:41

Feb 7 (Reuters) - Premier Inc  PINC.O :
    * PREMIER, INC. REPORTS FISCAL-YEAR 2023 SECOND-QUARTER
RESULTS
    * IMPLEMENTED A COST-SAVINGS PLAN IN Q3 OF FISCAL 2023 TO
BETTER
ALIGN ITS COST STRUCTURE
    * AS PART OF THIS PLAN, COMPANY IS LOWERING CERTAIN
EXPENSES,
INCLUDING NON-LABOR COSTS; ELIMINATING MORE THAN 70 OPEN
POSITIONS
    * REDUCING ITS WORKFORCE BY NEARLY 4%, OR APPROXIMATELY 100
POSITIONS
    * ACTIONS EXPECTED TO PRODUCE PRE-TAX COST SAVINGS BETWEEN
$18
MILLION - $20 MILLION IN FISCAL 2023, $35 MILLION TO $40 MILLION
ON ANNUAL RUN-RATE BASIS
    * EXPECTS WORKFORCE REDUCTION TO RESULT IN PRE-TAX CASH
RESTRUCTURING CHARGES OF ABOUT $8 MILLION WHICH WILL BE EXPENSED
IN Q3 OF FISCAL 2023
    * LOWERING ADJUSTED EARNINGS PER SHARE GUIDANCE FOR FISCAL
2023 TO
A RANGE OF $2.53 TO $2.65
    * DUE TO MARKET DYNAMICS, REMITRA IS RAMPING SLOWER THAN WE
ORIGINALLY CONTEMPLATED IN OUR FISCAL 2023 GUIDANCE
    * SEES 2023 ADJUSTED EPS IN THE RANGE OF $2.53 TO $2.65
    * FY2023 EARNINGS PER SHARE VIEW $2.63 -- REFINITIV IBES
DATA
    * LOWERING 2023 SUPPLY CHAIN SERVICES NET REVENUE GUIDANCE
TO A
RANGE OF $930 MILLION TO $980 MILLION

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