Premier, Inc. (PINC) Lags Q2 Earnings and Revenue Estimates

Core Insights - Premier, Inc. reported quarterly earnings of $0.27 per share, missing the Zacks Consensus Estimate of $0.29 per share, and down from $0.60 per share a year ago, representing an earnings surprise of -6.90% [1] - The company posted revenues of $240.27 million for the quarter, missing the Zacks Consensus Estimate by 1.54%, and down from $334.75 million year-over-year [2] - Premier shares have increased by approximately 5.7% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $247.42 million, and for the current fiscal year, it is $1.31 on revenues of $991.44 million [7] - The estimate revisions trend for Premier is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Medical Services industry, to which Premier belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Cencora, another company in the same industry, is expected to report quarterly earnings of $3.50 per share, reflecting a year-over-year change of +6.7%, with revenues anticipated to be $78.12 billion, up 8.1% from the previous year [9][10]