Premier, Inc. (NASDAQ: PINC), a leading healthcare technology company, saw its stock plummet 5.04% in pre-market trading on Tuesday following a disappointing fiscal second-quarter earnings report.
For the quarter ended December 31, 2024, Premier reported:
Revenue of $240.3 million, down 14% year-over-year, and missing analysts' estimates of $243.2 million.
Adjusted earnings per share (EPS) of $0.27, down 51% from the prior-year quarter, and missing consensus estimates of $0.30.
Adjusted EBITDA of $50.1 million, down 48% year-over-year, and below expectations.
The weaker-than-expected results were primarily driven by a decline in net administrative fees revenue in Premier's Supply Chain Services segment, coupled with lower demand and product mix challenges in its Performance Services segment.
Despite the disappointing performance, Premier reaffirmed its full-year revenue guidance midpoint but increased its adjusted EPS guidance midpoint by $0.08, reflecting the impact of recent share repurchases.
Premier's CEO, Michael J. Alkire, remained optimistic, stating, "Our overall revenue and profitability for the first half of fiscal 2025 were in line with our expectations, resulting from better-than-expected results in our Supply Chain Services segment."
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