Cencora Lifts FY26 EPS View on Strong Q3, Pulls Forward $1B Buyback
COR sits 25% above its 52-week low of $244.82.
Summary
Cencora posted Q3 FY2026 revenue of $84.8B (+5.1% YoY) and adjusted EPS of $4.48 (+12%), raised its full-year adjusted EPS guidance to $17.75–$17.95, and completed $1B in share repurchases during the quarter.
Key Events · Earnings and Guidance · COR
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Q3 Revenue and Earnings Beat
Revenue reached $84.8 billion, up 5.1% year-over-year, driven by U.S. Healthcare Solutions growth. Adjusted diluted EPS of $4.48 exceeded the prior year's $4.00 by 12.0%.
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Full-Year Guidance Raised
Adjusted diluted EPS guidance increased to $17.75–$17.95 from $17.70–$17.90, reflecting confidence in continued strong performance. Revenue growth guidance of 4–6% was also provided.
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$1 Billion Share Repurchase Accelerated
Cencora repurchased $1 billion of shares in Q3, completing the amount previously expected by end of calendar 2026, reducing diluted shares outstanding to 193.9 million.
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OneOncology Acquisition Impact
The February 2026 acquisition of OneOncology contributed to a 24.1% increase in GAAP gross profit but also drove a 21.9% rise in operating expenses, including higher interest costs from financing.
Analysis · COR · Trade & Services
A solid quarter saw revenue climb 5.1% to $84.8 billion and adjusted EPS reach $4.48, a 12% improvement over the prior year. Full-year adjusted EPS guidance was nudged higher to $17.75–$17.95 from the previous range, while the company accelerated its share repurchase program, completing $1 billion in buybacks during the quarter—well ahead of the original calendar 2026 schedule. The OneOncology acquisition is meaningfully boosting gross profit but also lifting operating expenses. A $102 million reduction in opioid liability provided an additional tailwind. For the pharmaceutical distribution giant, the results underscore a steady growth trajectory, though the incremental guidance raise appears largely priced in with the stock near all-time highs.
At the time of this filing, COR was trading at $307.02 on NYSE in the Trade & Services sector, with a market capitalization of approximately $59.6B. The 52-week trading range was $244.82 to $377.54. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.