Core Viewpoint - Cencora reported strong Q3 fiscal 2024 earnings, beating estimates and raising guidance for the fiscal year, despite a recent decline in share price [2][9][10]. Financial Performance - Adjusted earnings per share (EPS) for Q3 2024 was $3.34, exceeding the Zacks Consensus Estimate of $3.18 by 5% and showing a year-over-year increase of 14.4% [2]. - Total revenues reached $74.2 billion, reflecting a 10.9% year-over-year growth and surpassing the Zacks Consensus Estimate by 0.8% [3]. - U.S. Healthcare Solutions segment revenues were $67.2 billion, up 12.2% year-over-year, driven by high demand for GLP-1 drugs [3]. Segment Analysis - Segmental operating income was $698.3 million, a 9.9% increase year-over-year, supported by higher gross profit from COVID-19 treatment distribution [4]. - International Healthcare Solutions segment revenues remained flat at $7.1 billion year-over-year, but increased by 5.8% at constant currency [4]. - Operating income for the International segment was $179.4 million, down 4.1% but up 0.8% at constant currency, impacted by higher IT expenses [5]. Margin Analysis - Gross profit was $2.4 billion, a 6.5% increase year-over-year, with a gross margin of 3.25%, down 13 basis points from the previous year [6]. - Operating income was $672.5 million, flat year-over-year, with an operating margin of 0.91%, contracting 9 basis points [6]. Financial Position - Cencora ended Q3 with cash and cash equivalents of $3.31 billion, up from $2.29 billion in the prior quarter [7]. - Cumulative net cash used in operating activities was $2.48 billion, compared to $2.08 billion a year ago [7]. Dividend Update - The board declared a quarterly dividend of 51 cents per share, payable on August 26, 2024, to shareholders of record on August 9, 2024 [8]. Guidance Update - The company raised its fiscal 2024 adjusted EPS outlook to $13.55-$13.65, indicating a growth of 13-13.8% year-over-year [9]. - Revenue growth is now projected at 12%, up from previous guidance of 10-12%, with U.S. Healthcare Solutions expected to grow 12-13% [10]. - Adjusted operating income is anticipated to improve by 10-11%, with U.S. Healthcare Solutions projected to grow 11-12% [11]. Market Position - Cencora has a Zacks Rank 3 (Hold), indicating an expectation of in-line returns in the coming months [14]. - The stock has a strong aggregate VGM Score of A, reflecting good growth potential and value [13].

Cencora, Inc. (COR) witnessed strong momentum in the year-to-date period. Shares of the company have rallied 16.6% compared with 6% growth of the industry. The S&P 500 Composite has risen 17.5% during the same time frame. With healthy fundamentals and strong growth opportunities, this Zacks Rank #3 (Hold) company appears to be a solid wealth creator for its investors at the moment. Chesterbrook, PA-based Cencora is one of the world's largest pharmaceutical services companies, which focuses on providing drug ...

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Core Viewpoint - Cencora (COR) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive outlook based on rising earnings estimates [1][3]. Earnings Estimates and Stock Price Impact - Changes in earnings estimates are a significant factor influencing stock prices, with a strong correlation between earnings revisions and near-term stock movements [4][6]. - Institutional investors often adjust their valuations based on earnings estimates, leading to stock price movements as they buy or sell shares [4]. Cencora's Earnings Outlook - For the fiscal year ending September 2024, Cencora is expected to earn $13.49 per share, reflecting a 12.5% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Cencora has increased by 0.9%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7]. - Cencora's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

Walgreens Boots Alliance has sold more shares of drug distributor Cencora for proceeds of about $1.1 ... [+] billion, which will be used "primarily for debt paydown and general corporate purposes," the drugstore giant said August 1, 2024 In this photo, a business sign hangs over the entrance to a Walgreens pharmacy and store in Alexandria, Virginia. (Photo by Robert Alexander/Getty Images) Getty Images Walgreens Boots Alliance has sold more shares of drug distributor Cencora for proceeds of about $1.1 billi ...

Cencora (COR) reported $74.24 billion in revenue for the quarter ended June 2024, representing a year-overyear increase of 10.9%. EPS of $3.34 for the same period compares to $2.92 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $73.58 billion, representing a surprise of +0.90%. The company delivered an EPS surprise of +5.03%, with the consensus EPS estimate being $3.18. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | --- | |-------------------------------------------------------|------------------------------------------------------------------|--------------------------------- ...

Cencora, Inc. (COR) reported third-quarter fiscal 2024 adjusted earnings per share (EPS) of $3.34, which beat the Zacks Consensus Estimate of 3.18 by 5%. The bottom line also improved 14.4% year over year. GAAP EPS was $2.42, up 3% from that reported in the year-ago period. Revenue Details Revenues totaled $74.2 billion, up 10.9% year over year. The top line beat the Zacks Consensus Estimate by 0.8%. Segmental Analysis U.S. Healthcare Solutions Revenues in this segment totaled $67.2 billion, up 12.2% on a y ...

Cencora, Inc. (NYSE:COR) Q3 2024 Earnings Conference Call July 31, 2024 8:30 AM ET Company Participants Bennett Murphy - Senior Vice President, Head of Investor Relations & Treasury Steve Collis - Chairman, President & Chief Executive Officer Bob Mauch - Executive Vice President & Chief Operating Officer Jim Cleary - Executive Vice President & Chief Financial Officer Conference Call Participants Lisa Gill - JPMorgan Michael Cherny - Leerink Partners Elizabeth Anderson - Evercore ISI Allen Lutz - Bank of Ame ...