Summary
Cencora, Inc. reported strong revenue growth of 3.8% in the quarter and 4.7% for the six-month period ended March 31, 2026, driven by its U.S. and International Healthcare Solutions segments. This growth was significantly bolstered by specialty products and the increasing demand for GLP-1 class drugs, contributing $1.9 billion in the quarter and $2.9 billion year-to-date. The company also saw a substantial increase in gross profit, up 17.3% and 18.6% for the respective periods, benefiting from strong segment performance and a favorable LIFO adjustment, partially offset by reduced gains from antitrust settlements. The acquisition of OneOncology for $7.4 billion in February 2026 was a major event, significantly impacting balance sheet items like goodwill and other intangible assets, and driving increased operating expenses and interest expenses due to associated debt financing. While revenue growth was solid, operating expenses rose considerably, largely due to integration costs and impairments related to divested businesses. The company's liquidity remains strong, supported by its revolving credit facilities, though net cash used in operating activities increased year-over-year due to working capital changes.
Financial Highlights
54 data points| Revenue | $78.36B |
| Cost of Revenue | $74.77B |
| Gross Profit | $3.59B |
| SG&A Expenses | $1.98B |
| Operating Expenses | $2.11B |
| Operating Income | $1.14B |
| Net Income | $1.64B |
| EPS (Basic) | $8.44 |
| EPS (Diluted) | $8.40 |
| Shares Outstanding (Basic) | 194.54M |
| Shares Outstanding (Diluted) | 195.38M |
Key Highlights
- 1Revenue increased by 3.8% to $78.4 billion for the quarter and 4.7% to $164.3 billion for the six months ended March 31, 2026, driven by both U.S. and International Healthcare Solutions segments.
- 2Significant growth in specialty products and GLP-1 class drugs contributed $1.9 billion and $2.9 billion to revenue in the quarter and six-month period, respectively.
- 3Gross profit increased by 17.3% to $3.6 billion for the quarter and 18.6% to $6.7 billion for the six months, aided by LIFO credits and strong segment performance.
- 4The company completed the significant acquisition of OneOncology for $7.4 billion in February 2026, impacting its balance sheet and future operations.
- 5Operating expenses increased by 20.9% for the quarter and 22.8% for the six months, primarily due to acquisition-related costs and an impairment charge for assets held for sale.
- 6Net cash used in operating activities increased to $1.0 billion for the six months ended March 31, 2026, from $0.6 billion in the prior year, driven by changes in working capital.
- 7Interest expense, net, increased by 35.1% for the quarter and 61.4% for the six months, largely due to new debt incurred to finance the OneOncology acquisition.