Cencora Reports Strong Q1 Earnings, Exceeding Expectations
CONSHOHOCKEN, Pa. (AP) - Cencora, Inc. (COR) reported solid financial results for its fiscal first quarter ended on Wednesday.
Key Metrics:
* Net income: $488.6 million ($2.50 per share)
* Adjusted earnings: $3.73 per share
* Revenue: $81.49 billion
Analyst Estimates:
Cencora's performance surpassed Wall Street expectations. The average analyst estimate for earnings per share was $3.50, while revenue forecasts stood at $78.12 billion.
Revenue Breakdown:
The prescription drug distributor's revenue growth was driven by:
* Higher drug prices
* Increased volume
* Market share gains
Full-Year Outlook:
Cencora predicts full-year earnings in the range of $15.25 to $15.55 per share. This guidance indicates continued optimism about the company's long-term prospects.