8-KEarnings & ResultsRegulation FDExhibits & Filings

Cencora, Inc. 8-K Report, Financial Results (Oct 30, 2014)

Filed October 30, 2014For Securities:COR

Summary

Cencora, Inc. (formerly AmerisourceBergen Corporation) filed an 8-K on October 30, 2014, to report its financial results for the fiscal quarter and year ended September 30, 2014. The filing includes a press release detailing these results and providing forward-looking guidance. Investors should note the company's use of non-GAAP financial measures, which management believes offer valuable supplementary insights into operational performance. These non-GAAP figures adjust for various items including warrant expenses, litigation settlements, and acquisition-related amortization. The company also provided initial guidance for fiscal year 2015, projecting adjusted diluted earnings per share (EPS) between $4.36 and $4.50. This forecast is supported by expectations for revenue growth of 7-8% and adjusted operating income growth of 8-10%. Furthermore, Cencora anticipates generating substantial free cash flow and continuing with significant share repurchase programs, including both normal and a special program, underscoring a commitment to returning capital to shareholders.

Key Highlights

  • 1Company reported financial results for the fiscal quarter and year ended September 30, 2014.
  • 2Disclosure includes forward-looking guidance for fiscal year 2015, with projected adjusted diluted EPS between $4.36 and $4.50.
  • 3Key drivers for FY 2015 outlook include expected revenue growth of 7-8% and adjusted operating income growth of 8-10%.
  • 4Management utilizes and presents non-GAAP financial measures alongside GAAP measures for performance evaluation.
  • 5Non-GAAP adjustments include warrant expense, litigation settlements, acquisition-related intangibles amortization, and debt-related items.
  • 6Anticipates free cash flow between $1.4 billion and $1.7 billion in FY 2015.
  • 7Plans for substantial share repurchases in FY 2015, including both normal and special programs totaling approximately $800 million.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Cencora, Inc.'s (then AmerisourceBergen Corporation) financial results for the fiscal quarter and year ended September 30, 2014, and to provide initial financial guidance for fiscal year 2015. It includes a press release with these details.

For fiscal year 2015, Cencora expects adjusted diluted earnings per share to range from $4.36 to $4.50. This is supported by projected revenue growth of 7-8% and adjusted operating income growth of 8-10%. The company also forecasts free cash flow of $1.4 billion to $1.7 billion.

Cencora uses non-GAAP financial measures because management believes they provide useful supplementary information to investors and facilitate additional analysis of the company's operating performance. These measures adjust for items such as warrant expenses, litigation settlements, and acquisition-related amortization that may not be representative of ongoing operational trends.

The company plans to return capital to shareholders through share repurchases. In FY 2015, they anticipate approximately $400 million in repurchases under their normal program and another $400 million under a special repurchase program, subject to market conditions, totaling approximately $800 million.