Company Reports

Cencora disclosed that, beginning July 1, certain volume that it serviced for Walgreens started moving outside the firm. Full-year EPS guidance of $17.75-$17.95 was reaffirmed. Shares traded down 4%.

Cencora delivered 5% and 12% growth in revenue and adjusted earnings per share, respectively, during the third fiscal quarter. Both figures landed in the low single-digit percentage range ahead of FactSet consensus estimates. Shares are up 4%.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With roughly $300 billion in annual US healthcare distribution sales, Cencora accounts for about a third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson, and the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With roughly $300 billion in annual US healthcare distribution sales, Cencora accounts for about a third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson, and the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Cencora delivered 3.8% and 7.5% revenue and adjusted EPS growth, respectively, during the fiscal second quarter. Both figures landed behind FactSet consensus. Revenue guidance was lowered to 5% growth at the midpoint from the previous 8%. Shares are down 14% at time of writing May 6.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With roughly $300 billion in annual US healthcare distribution sales, Cencora accounts for about a third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson, and the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Cencora delivered revenue and EPS growth of 5.5% and 9.5%, respectively, during the first fiscal quarter of 2026. Both lines were in-line with FactSet consensus. Shares are down 7% as we write.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With roughly $300 billion in annual US healthcare distribution sales, Cencora supplies about a third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson; the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Cencora announced it will acquire the majority of the outstanding equity interest of OneOncology for roughly $5 billion. Cencora and TPG formed a joint venture to initially acquire OneOncology together in June 2023. Cencora at the time paid $720 million to acquire 35% of the JV.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With roughly $300 billion in annual US healthcare distribution sales, Cencora supplies about a third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson; the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Cencora delivered 5.9% year-over-year revenue growth and $3.84 in adjusted earnings per share for its fiscal fourth quarter.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With over $250 billion in annual US healthcare distribution sales, the company supplies about a third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson; the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With over $250 billion in annual US healthcare distribution sales, the company supplies about a third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson, and the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Cencora reported third-quarter earnings, with revenue and adjusted EPS growth of 9% and 20%, respectively. Revenue guidance was narrowed, but the midpoint was reaffirmed, and EPS guidance was narrowly raised, or about 1% at the midpoint.

Narrow-moat Cencora reported strong second-quarter results and demonstrated healthy growth momentum. Total revenue of $75.5 billion was up 10.3% year over year and came in above our expectations. Favorable utilization trends and solid broad-based prescription upticks continue to propel Cencora’s performance in the midst of uncertainty due to tariffs and personnel changes at key regulatory authorities. Sales from GLP-1s (diabetes and weight-loss drugs) increased $2.2 billion, or up 36% against last year, and contributed about 30% of enterprise growth. Against the backdrop of positive performance, management raised EPS guidance about 2.5% at the midpoint, with roughly one third of the increase coming from acquisition and the rest from core distribution strength. After ticking up our near-term assumptions and baking in the acquisition, we raise our fair value estimate to $260 per share from $242.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With over $250 billion in annual US healthcare distribution sales, the firm supplies about a third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson. Together, the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Narrow-moat Cencora started the year on a strong footing after delivering solid first-quarter results. Total sales of $81.5 billion were up 12.8% year over year and came ahead of our $78.1 billion estimate. Momentum in utilization trends remains strong and helped offset declining contributions from covid vaccines and therapies. Adjusted EPS of $3.73 also came in better than our $3.54 estimate. Against the backdrop of a positive readout as well as baking in RCA acquisition impact, management ticked up guidance for both revenue and adjusted operating income. After raising our near-term estimates and accounting for the time value of money, we raise our fair value estimate to $242 per share from $230; shares are fairly valued in 3-star territory.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With over $250 billion in annual US healthcare distribution sales, the firm supplies roughly one third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson. Together, the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

Narrow-moat Cencora reported solid fiscal fourth-quarter results and wrapped up the year on a better note than we anticipated. Total sales of $79.1 billion were up 14.7% year over year, higher than our expectation for $78.5 billion. Solid prescription utilization trends across generic and specialty drugs provided nice tailwinds. Sales of GLP-1 drugs were up $3.1 billion, or 55%, versus last year and contributed over 40% of US distribution growth. This dragged on margins for the segment, but earnings still beat our estimate as cost management in other parts of the business was a partial offset. After updating our model and accounting for the time value of money, we've raised our fair value estimate to $230 per share from $215.

Cencora is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With over $200 billion in annual US healthcare distribution sales, the company supplies roughly one third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson. Together, the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.