COR · Cencora, Inc.

556 filings

COR SEC Filings

Cencora, Inc. - 556 total filings

Filing record · 2016–202610-K1010-Q338-K184

Showing 1–50 of 556 filings

Cencora, Inc. 8-K Report, Financial Results (Oct 21, 2026)

Cencora, Inc. (COR) announced a significant strategic move via an 8-K filing on October 21, 2026, revealing its definitive agreement to acquire American Oncology Network, Inc. (AON) for an enterprise value of $2.4 billion. This acquisition is poised to bolster Cencora's position in supporting community oncology by integrating AON's physician-led network, which spans over 350 providers across 21 states, into Cencora's existing MSO platform. The company also updated its fiscal year 2026 financial expectations, projecting adjusted diluted earnings per share (EPS) to be at least $17.90, aligning with the higher end of its previous guidance. This updated outlook reflects the strong performance in Cencora's U.S. Healthcare Solutions segment. The acquisition of AON is anticipated to be accretive to Cencora's adjusted diluted EPS in the second year post-closing, signaling a long-term value creation strategy.

Oct 21, 2026 8-K

Cencora, Inc. 8-K Report, Executive Changes (Sep 25, 2026)

Cencora, Inc. (NYSE: COR) filed an 8-K on September 25, 2026 announcing that its Board of Directors appointed Robert E. Sanchez as a new independent director, effective October 1, 2026. The Board expands from ten to eleven members as a result. This is a governance update rather than a financial disclosure: the filing contains no earnings, guidance, or transaction information, and the filing does not indicate any financial impact on the company. Mr. Sanchez brings substantial public-company leadership experience. He is Executive Chair of Ryder System, Inc., having retired as Chair and CEO in March 2026, and previously served as Ryder's CEO from 2013 and as its CFO earlier in his career. He also sits on the board of Texas Instruments. Cencora's leadership framed the appointment around operations, finance, technology, and logistics and supply-chain expertise, which the company says will support its pharmaceutical-centric strategy and growth ambitions. Compensation for Mr. Sanchez follows the existing non-employee director policy described in the company's January 22, 2026 proxy statement. Cash retainers are paid quarterly, and his annual equity award will be prorated through the 2027 Annual Meeting. He has not yet been assigned to any Board committees. The filing states there are no related-party transactions or family relationships requiring disclosure.

Sep 25, 2026 8-K

Cencora, Inc. 8-K Report, Executive Changes (Aug 14, 2026)

Cencora, Inc. (COR) announced on August 14, 2026, that Dr. Lorence H. Kim has resigned from the Board of Directors, effective immediately. This departure is attributed to Dr. Kim's appointment as Chief Financial Officer at Commonwealth Fusion Systems, Inc., requiring his full attention and time commitment to his new role. The company has clarified that Dr. Kim's resignation is not a result of any disagreements concerning Cencora's operations, policies, or practices, and the Board has expressed gratitude for his service. This change in board composition is the primary disclosure in this 8-K filing. While the resignation is noted, the company has provided assurances that it is not indicative of internal discord. Investors should note this change as a routine board adjustment often seen when executives take on significant new responsibilities elsewhere. The filing does not contain any information related to financial performance, new business initiatives, or material agreements.

Aug 14, 2026 8-K

Cencora, Inc. 8-K Report, Regulation FD Disclosure (Aug 12, 2026)

Cencora, Inc. (COR) has filed an 8-K to disclose the transition of certain Walgreens volume servicing outside of its prime vendor agreement. This transition, which began on July 1, 2026, was fully anticipated by the company and was factored into its previously communicated expectations for the U.S. Healthcare Solutions segment for the fourth quarter. Importantly, the prime vendor agreement itself, which represents the substantial majority of Cencora's business with Walgreens, remains unchanged. In light of this disclosed information and its prior commentary, Cencora is reaffirming its adjusted diluted Earnings Per Share (EPS) guidance range of $17.75 to $17.95 for the fiscal year 2026. This reaffirms management's confidence in the company's ability to absorb the impact of the transitioning volume and meet its full-year financial targets.

Aug 12, 2026 8-K

Cencora, Inc. 8-K Report, Material Agreement (Aug 5, 2026)

Cencora, Inc. (COR) has filed an 8-K report detailing significant amendments to its financing arrangements. The company has entered into an Amended and Restated Credit Agreement to enhance its Multi-Currency Revolving Credit Facility, increasing the aggregate commitments from $5.5 billion to $7.0 billion and extending the maturity date to July 2031. This move signifies Cencora's strengthened credit profile and provides greater financial flexibility for its ongoing business needs and potential future growth. Additionally, Cencora has amended its Receivables Securitization Facility. While the primary facility size has been reduced from $1.5 billion to $1.0 billion, an accordion feature has been increased to $1.0 billion, offering the company the option to expand funding capacity if needed. These adjustments reflect prudent financial management and strategic positioning to support operational liquidity and long-term objectives.

Aug 5, 2026 10-Q

Cencora, Inc. Quarterly Report for Q3 Ended Jun 30, 2026

Cencora, Inc. (COR) reported strong revenue growth for the nine months ended June 30, 2026, with a 4.8% increase to $249.0 billion, driven by solid performance in both its U.S. and International Healthcare Solutions segments. The company saw significant growth in sales of GLP-1 class products for diabetes and weight loss, contributing to a 4.3% rise in U.S. Healthcare Solutions revenue. International Healthcare Solutions also experienced robust growth, primarily from its European distribution business. Profitability also showed improvement, with gross profit increasing by 20.4% year-over-year to $10.3 billion, bolstered by strategic acquisitions, including OneOncology and RCA, and increased pharmaceutical sales. Despite rising operating expenses, largely due to acquisition integration costs, Cencora's segment operating income grew by 11.4%. The company continues to manage its debt effectively, with a strong liquidity position supported by its credit facilities, and remains committed to returning value to shareholders through share repurchases and dividends.

Aug 5, 2026 8-K

Cencora, Inc. 8-K Report, Financial Results (Aug 5, 2026)

Cencora (COR) reported fiscal Q3 2026 (quarter ended June 30, 2026) with revenue of $84.8 billion, up 5.1% year-over-year, and GAAP diluted EPS of $3.94 versus $3.52 a year earlier (up 11.9%). Adjusted diluted EPS rose 12.0% to $4.48. Growth was driven by the February 2026 OneOncology acquisition and strong U.S. Healthcare Solutions unit volume, including specialty and GLP-1 products, partly offset by lower brand manufacturer pricing and the 2025 loss of an oncology customer. Adjusted operating income grew 17.0% to $1.24 billion, and the adjusted operating margin expanded 15 basis points to 1.46%. A $102.0 million reduction in opioid liability, tied to the dismissal of opioid litigation, flattered GAAP operating expenses in the quarter. Management raised fiscal 2026 adjusted diluted EPS guidance to $17.75-$17.95 from $17.70-$17.90, citing strong performance and the completion of $1 billion in opportunistic share repurchases, which had been planned for calendar 2026. Net interest expense rose 72% to $141 million as the company financed OneOncology with $3.0 billion of senior notes and $1.5 billion of term loans. Total debt, including short- and long-term debt, rose to roughly $11.7 billion from about $7.7 billion at fiscal year-end 2025, and stockholders' equity increased to $3.24 billion. The board also declared a $0.60 quarterly dividend payable August 31, 2026. The update is generally constructive: earnings beat expectations on an adjusted basis, the guidance raise is modest, and the acquisition is contributing to growth. Investors should watch the higher leverage and interest burden, the margin pressure from lower-margin GLP-1 sales, and the mix of one-time items in GAAP results, which include a $1.1 billion nine-month remeasurement gain on OneOncology.

Aug 5, 2026 8-K

Cencora, Inc. 8-K Report, Executive Changes (Jun 15, 2026)

Cencora, Inc. (NYSE: COR) filed an 8-K on June 15, 2026 to announce a leadership transition in its Human Resources function. Silvana Battaglia, Executive Vice President and Chief Human Resources Officer, will retire effective July 12, 2026, after a seven-year tenure. She will then serve as a special advisor through the end of 2026 to support the handover. The filing states her decision was not the result of any disagreement with the company on operations, policies, or practices. Her successor, Samantha (Sam) Hammock, joins Cencora as Executive Vice President and Chief Human Resources Officer effective July 13, 2026. She most recently served as EVP and CHRO at Verizon Communications and previously held senior HR roles at American Express, including Head of Global Talent and Learning. She will report directly to CEO Robert P. Mauch as part of the enterprise leadership team and will be responsible for global human resources strategy. For investors, this is a planned, orderly executive transition with a one-day overlap-free handoff and a multi-month advisory period, which mitigates continuity risk. The filing contains no financial results, guidance changes, or material operational disclosures, so the event is best viewed as routine governance news rather than a signal about company performance.

Jun 15, 2026 8-K

Cencora, Inc. 8-K Report, Executive Changes (May 29, 2026)

Cencora, Inc. (NYSE: COR) filed an 8-K on May 29, 2026 announcing that Eva C. Boratto has been appointed Executive Vice President and Chief Financial Officer, effective June 29, 2026. She succeeds James F. Cleary, who is retiring; he will serve in an advisory capacity through the end of 2026 to support the transition. Ms. Boratto most recently served as CFO of Bath & Body Works (since August 2023) and previously spent 12 years at CVS Health, including as EVP and CFO, plus roughly 20 years at Merck & Co. Her background in large-scale finance and public-company governance (she chairs audit committees at Mars, Inc. and United Parcel Service) is a relevant credential for a company of Cencora's scale. Compensation terms are substantial but largely standard for a senior executive hire. Her base salary is $1,000,000 with a 100% target annual bonus, and she is eligible for the same long-term and short-term incentive programs as other executive officers. She also receives a one-time $2,000,000 cash sign-on bonus, subject to repayment on resignation or termination for cause within one year, and a one-time RSU award valued at $6,000,000 vesting ratably over three years. The filing also includes her employment agreement and standard indemnification agreement. Investors should note that the CFO transition itself is a routine but meaningful leadership change, and the sign-on and equity grants represent modest near-term dilution and expense rather than a material change to the financial outlook. In a separate Regulation FD disclosure (Item 7.01, furnished rather than filed), Cencora reaffirmed its fiscal 2026 adjusted diluted EPS guidance of $17.70 to $17.90 and its long-term targets of 7% to 10% adjusted operating income growth and 10% to 14% adjusted diluted EPS growth. The company noted that on May 21, 2026 it had raised the low end of its FY2026 EPS range from $17.65 due to opportunistic share repurchases completed in May. The reaffirmation of guidance alongside the leadership change is likely intended to signal continuity in strategy and financial execution during the transition.

May 29, 2026 10-Q

Cencora, Inc. Quarterly Report for Q2 Ended Mar 31, 2026

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.

May 6, 2026 8-K

Cencora, Inc. 8-K Report, Financial Results (May 6, 2026)

Cencora (COR) reported fiscal Q2 2026 (quarter ended March 31, 2026) with revenue of $78.4 billion, up 3.8% year over year, driven by 2.9% growth in U.S. Healthcare Solutions and 13.0% growth in International Healthcare Solutions. GAAP diluted EPS was $8.40, but this was inflated by a $1.1 billion non-cash remeasurement gain tied to the February 2026 OneOncology acquisition. Adjusted diluted EPS rose 7.5% to $4.75, and adjusted operating income grew 6.0% to $1.26 billion. Adjusted gross margin expanded 45 basis points, helped by the OneOncology acquisition, though higher GLP-1 sales carry lower margins. Operating expenses rose sharply (adjusted up 22.5%), reflecting the acquisition and higher interest expense of about $140 million. Management raised its fiscal 2026 adjusted diluted EPS guidance to $17.65 to $17.90 from $17.45 to $17.75, and narrowed net interest expense to roughly $485 million. The company also plans to resume opportunistic share repurchases, with an expected $1 billion in buybacks by the end of calendar 2026, after a period of debt paydown. Balance sheet leverage increased materially: long-term debt rose to $12.2 billion from $7.5 billion at fiscal year-end, following $4.5 billion of senior notes and term loans issued to finance OneOncology. Operating cash flow was negative $966.5 million for the six months, largely due to working capital changes, which investors should monitor closely. The filing also flags MWI Animal Health as held for sale, a pending merger of MWI with Covetrus, and an agreement to acquire EyeSouth Partners' retina business. A $0.60 quarterly dividend was declared, payable June 1, 2026. Investors should weigh the strong underlying operating growth against the reliance on a one-time gain for GAAP earnings and the higher leverage from acquisition financing.

May 6, 2026 8-K

Cencora, Inc. 8-K Report, Regulation FD Disclosure (Mar 23, 2026)

Cencora, Inc. (NYSE: COR) disclosed in a Form 8-K filed March 23, 2026 that it has signed a definitive agreement, dated March 21, 2026, to acquire the retina business of EyeSouth Partners for $1.1 billion. Upon closing, EyeSouth's affiliated retina physicians will join Cencora's Retina Consultants of America (RCA), a management services organization (MSO) that Cencora already operates. The deal extends Cencora's specialty care footprint in ophthalmology, a segment where RCA is positioned as a leading practice management platform. For investors, the most important financial points are the purchase price, the accretion outlook, and the guidance treatment. Cencora expects the acquisition to be slightly accretive to adjusted diluted EPS, net of financing costs, in the first twelve months after closing. The company reaffirmed its fiscal 2026 guidance, but that guidance does not assume the transaction closes within fiscal 2026. The $1.1 billion outlay is meaningful and is likely to be funded in part with debt, which ties directly to Cencora's stated de-leveraging plans and its commitment to maintaining an investment grade rating. The transaction remains subject to customary closing conditions and required regulatory approvals, and the filing does not disclose a closing timetable. The filing is primarily a Regulation FD disclosure and does not include detailed financial information about EyeSouth Partners, such as revenue, EBITDA, or the financing structure. Investors should watch for the closing announcement, regulatory progress, and any updated financing or guidance commentary in future SEC filings.

Mar 23, 2026 8-K

Cencora, Inc. 8-K Report, Executive Changes (Mar 17, 2026)

Cencora, Inc. (NYSE: COR) disclosed in an 8-K filed March 17, 2026 that James F. Cleary, Executive Vice President and Chief Financial Officer, will retire effective June 30, 2026. The Company states the decision was not the result of any disagreement regarding its operations, policies, or practices. Cleary, 62, has been CFO since November 2018 and joined the Company in February 2015 following its acquisition of MWI Veterinary Supply, where he had been CEO for over a decade. He will assist in the search and serve in an advisory capacity through the end of 2026, and Cencora has engaged an executive search firm to identify internal and external successors. The transition is the key item for investors, but the filing also includes a reaffirmation of fiscal 2026 adjusted diluted EPS guidance of $17.45 to $17.75. Management's reaffirmation alongside the leadership change suggests no near-term change to the financial outlook, though the filing itself does not provide detail on the drivers of the guidance. The press release and Item 7.01 disclosure are furnished rather than filed, so they are not subject to Section 18 liability. For investors, the near-term watch items are the identity and timing of the CFO successor, whether the Company reaffirms guidance on its next earnings call, and the effectiveness of the handover given Cleary's advisory role through year-end. The CEO and Board Chair praised Cleary's track record, and the Company has a roughly 2.5-month overlap window before his June 30 departure date.

Mar 17, 2026 8-K

Cencora, Inc. 8-K Report, Shareholder Vote Results (Mar 6, 2026)

Cencora, Inc. (COR) filed an 8-K report on March 6, 2026, detailing the outcomes of its 2026 Annual Meeting of Shareholders held on March 5, 2026. The filing indicates strong shareholder support for the company's leadership and governance practices. All director nominees were elected, and the appointment of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2026 received overwhelming approval. Furthermore, shareholders voted in favor of the company's executive compensation for fiscal year 2025 on an advisory basis. This 8-K serves as confirmation of key governance decisions made at the annual meeting, providing investors with transparency on shareholder voting results regarding board composition, executive pay, and auditor ratification. The high approval margins across all proposals suggest continued confidence from the shareholder base in Cencora's management and strategic direction.

Mar 6, 2026 8-K

Cencora, Inc. 8-K Report, Regulation FD Disclosure (Feb 18, 2026)

Cencora (COR) announced on February 18, 2026 a definitive agreement to merge its animal health business, MWI Animal Health, with Covetrus, Inc. The deal values MWI at an enterprise value of $3.5 billion. At closing, Cencora would receive $1.25 billion in upfront cash, $800 million in perpetual payment-in-kind preferred units, and $1.45 billion in common units of CVET TopCo, LP, the indirect parent of Covetrus. The company expects to hold approximately 34.3% of the combined entity's ownership. For investors, the transaction converts a wholly owned asset into a cash-plus-minority-stake position, and the company states the enterprise value exceeds MWI's book value. The filing signals a strategic portfolio shift: Cencora is exiting majority control of animal health to concentrate capital on its core pharmaceutical distribution and solutions priorities. The $1.25 billion cash component provides near-term liquidity, while the $800 million preferred units and the 34.3% common stake carry execution and valuation risk tied to the combined company's performance, which is not controlled by Cencora. Cencora also reaffirmed its fiscal 2026 guidance, but that guidance does not assume the transaction closes before the fiscal year ends September 30, 2026. Closing is subject to customary conditions, including required regulatory approvals, so timing and terms remain uncertain. The filing's forward-looking statement disclaimers flag risks including failure to obtain approvals, failure to realize synergies, and business disruption. Investors should monitor regulatory progress, the accounting treatment and fair value of the retained equity and preferred interests, and any updated guidance once the deal's expected timeline is clearer.

Feb 18, 2026 8-K

Cencora, Inc. 8-K Report, Material Agreement (Feb 13, 2026)

On February 13, 2026, Cencora, Inc. (NYSE: COR) closed a $3.0 billion underwritten senior unsecured notes offering across five tranches: $500M 3.950% notes due 2029, $500M 4.250% notes due 2030, $500M 4.600% notes due 2033, $1.0B 4.900% notes due 2036, and $500M 5.650% notes due 2056. The notes rank equally with the company's existing unsecured senior debt but are structurally subordinated to all liabilities of its subsidiaries, including trade payables. The indentures contain customary covenants limiting liens, sale-leaseback transactions, and mergers or sales of substantially all assets, along with standard events of default. The proceeds are earmarked primarily to repay borrowings under a 364-day term credit agreement dated January 12, 2026, which financed part of the acquisition of OneOncology. Refinancing that bridge facility with long-term fixed-rate debt extends the company's maturity profile and replaces short-term acquisition financing, with any remaining proceeds going to general corporate purposes. The 8-K itself does not disclose the total interest cost, the net proceeds after underwriting discounts, or pro forma leverage, so investors should consult the prospectus supplement and subsequent 10-Q for those figures. For investors, the filing signals that Cencora has accessed the investment-grade bond market at a substantial scale to fund its OneOncology acquisition. Weighted coupon costs are meaningful across the curve, with the 2056 tranche carrying a 5.650% rate. Because the filing is largely a financing disclosure, the key ongoing considerations are the incremental interest expense this debt adds, the resulting leverage, and whether the OneOncology acquisition delivers the anticipated returns.

Feb 13, 2026 8-K

Cencora, Inc. 8-K Report, Regulation FD Disclosure (Feb 11, 2026)

On February 10, 2026, Cencora priced a $3.0 billion senior unsecured notes offering in five tranches: $500 million of 3.950% notes due 2029, $500 million of 4.250% notes due 2030, $500 million of 4.600% notes due 2033, $1.0 billion of 4.900% notes due 2036, and $500 million of 5.650% notes due 2056. The offering is expected to close February 13, 2026, and yield estimated net proceeds of about $2.98 billion. Based on the disclosed coupons, the weighted average coupon is roughly 4.71%. The proceeds will primarily repay the $3.0 billion 364-Day Term Loan Facility entered into January 12, 2026. That facility funded a portion of Cencora's acquisition of OneOncology. Refinancing the short-term bridge-style debt into longer-dated fixed-rate notes (maturities from 2029 to 2056) reduces near-term refinancing risk and replaces floating or short-term funding with term debt. Any remaining proceeds would go to general corporate purposes. The filing does not quantify the acquisition's purchase price or the resulting change in leverage, so investors should review the company's upcoming periodic filings for those details. The offering was made under a Form S-3 shelf registration filed November 26, 2024. The filing also discloses that several underwriters and their affiliates hold roles in Cencora's revolving credit facility, commercial paper program, receivables securitization facility, term loan facilities, and the 364-Day Term Loan Facility, and that U.S. Bancorp Investments is an affiliate of the notes trustee. As of December 31, 2025, commercial paper borrowings were $220.0 million and the receivables securitization facility had no borrowings outstanding.

Feb 11, 2026 8-K

Cencora, Inc. 8-K Report, Corporate Update (Feb 10, 2026)

Cencora filed this Form 8-K on February 10, 2026 to recast its fiscal 2025 segment disclosures to match a new reporting structure. The change does not alter consolidated results. The company's audited financial statements in the FY2025 Form 10-K (filed November 25, 2025) are not restated, and the filing does not update that 10-K for later events. Exhibit 99.1 contains revised Items 1, 7, and 8 of the 10-K, along with a new Ernst & Young consent (Exhibit 23.1). The revised structure, effective with the fiscal Q1 2026 10-Q filed February 4, 2026, has three groupings. U.S. Healthcare Solutions is U.S. Human Health excluding legacy U.S. Consulting Services. International Healthcare Solutions includes Alliance Healthcare, Innomar, World Courier, and strategic components of PharmaLex. "Other" is not a reportable segment. It holds businesses for which Cencora has begun exploring strategic alternatives: MWI Animal Health, Profarma, U.S. Consulting Services, and the remaining PharmaLex components. The company says this follows a strategic review aimed at aligning the portfolio with its growth priorities. For investors, the key takeaway is that the recast improves visibility into the core U.S. and international distribution businesses and flags businesses that may be sold or otherwise separated. The excerpt provided is truncated before the recast segment revenue and operating income tables, so this summary does not quantify the new segment figures. Those numbers should be read from Exhibit 99.1 directly. The filing also does not discuss the financial impact of any potential divestitures.

Feb 10, 2026 10-Q

Cencora, Inc. Quarterly Report for Q1 Ended Dec 31, 2025

Cencora, Inc. reported solid financial results for the quarter ending December 31, 2025, demonstrating robust revenue growth driven by both its U.S. and International Healthcare Solutions segments. The company saw a significant increase in gross profit, largely attributed to the acquisition of RCA and favorable LIFO credit adjustments, while managing operating expenses effectively despite integration costs from recent acquisitions. Despite a notable increase in interest expense due to recent debt financings for acquisitions, Cencora maintained profitability, with net income attributable to Cencora, Inc. rising to $559.6 million. The company also provided strong forward-looking indications with the recent acquisition of OneOncology and an increased revolving credit facility, positioning it for continued growth and operational expansion. However, investors should remain aware of the ongoing opioid litigation accrual and other contingent liabilities, which represent a significant long-term financial commitment.

Feb 4, 2026 8-K

Cencora, Inc. 8-K Report, Financial Results (Feb 4, 2026)

Cencora (COR) reported fiscal Q1 2026 (quarter ended December 31, 2025) with revenue of $85.9 billion, up 5.5% year-over-year, driven by 5.0% growth in U.S. Healthcare Solutions and 9.6% growth in International Healthcare Solutions. GAAP diluted EPS was $2.87, up 14.8%, while adjusted diluted EPS was $4.08, up 9.4%. GAAP results were weighed down by a $249.5 million impairment tied to the U.S. Consulting Services business held for sale, partly offset by an $86.8 million litigation and opioid-related credit. Adjusted operating income rose 11.9% to $1.06 billion, and U.S. Healthcare Solutions segment operating income grew 21.0%, supported by the January 2025 Retina Consultants of America acquisition. Management raised its fiscal 2026 adjusted operating income growth guidance to 11.5%-13.5% from 8%-10%, reflecting the completed acquisition of the majority stake in OneOncology for roughly $4.6 billion in cash on February 2, 2026, funded with new debt. The adjusted diluted EPS guidance was reaffirmed at $17.45-$17.75. Net interest expense guidance of $480-$500 million is well above the $292 million reported in fiscal 2025, reflecting higher borrowing costs, and the cash flow picture for the quarter was seasonally weak, with operating cash outflow of $2.3 billion driven by inventory build. Investors should weigh the strong underlying earnings growth and the OneOncology expansion in specialty oncology against higher leverage, rising interest costs, the ongoing strategic review of Other businesses, and a sharp decline in cash balances. The board also declared a quarterly dividend of $0.60 per share, payable March 2, 2026.

Feb 4, 2026 8-K

Cencora, Inc. 8-K Report, Executive Changes (Jan 22, 2026)

Cencora, Inc. (NYSE: COR) filed an 8-K on January 22, 2026 to report the appointment of Ellen G. Cooper as an independent director. The Board, chaired by Mark Durcan, elected Cooper effective January 20, 2026, and expanded the Board from ten to eleven members. The filing is a routine governance event with no reported financial results, guidance changes, or material transactions. Cooper is Chairman, President and CEO of Lincoln Financial, a role she has held since May 2022. Her background spans enterprise risk, investment management, and insurance, including prior roles as Chief Risk Officer at AEGON Americas and Managing Director at Goldman Sachs Asset Management. Management characterized her expertise in risk management and regulated, complex industries as valuable to Cencora's long-term growth strategy and its positioning as a leading healthcare company. For investors, the event is not expected to have a near-term financial impact. Cooper's compensation will mirror that of other non-employee directors, pro-rated through the 2026 Annual Meeting, and she has not yet been assigned to any Board committees. Committee assignments, which could signal her specific areas of oversight, are a item to monitor in future filings.

Jan 22, 2026 8-K

Cencora, Inc. 8-K Report, Material Agreement (Jan 16, 2026)

Cencora, Inc. (COR) has filed an 8-K detailing significant financing activities to support its previously announced acquisition of the majority of the outstanding equity interests in OneOncology. The company has entered into a $1.5 billion Term Credit Agreement and a $3.0 billion 364-Day Term Credit Facility, totaling $4.5 billion in new debt. These facilities will fund a portion of the acquisition consideration, repay existing OneOncology debt, and cover related fees and expenses. The new debt structure replaces previously secured bridge financing commitments. This move underscores Cencora's commitment to completing the OneOncology acquisition, a strategic initiative that is expected to significantly impact the company's operations and market position.

Jan 16, 2026 8-K

Cencora, Inc. 8-K Report, Regulation FD Disclosure (Dec 15, 2025)

On December 15, 2025, Cencora, Inc. (NYSE: COR) disclosed a definitive agreement to acquire the majority of the equity interests it does not already own in OneOncology, a physician-led national oncology platform, from TPG and other shareholders. The transaction values the OneOncology enterprise at $7.4 billion with an equity value of approximately $6 billion. Cencora will pay about $3.6 billion for the equity and retire $1.3 billion of its existing corporate debt, for total cash consideration of roughly $5.0 billion. OneOncology's affiliated practices and management will retain a minority stake. The deal was signed December 12, 2025, is expected to close by the end of fiscal Q2 2026, and remains subject to customary conditions, including required regulatory approvals. Cencora plans to fund the deal with new debt, backed by $4.5 billion in bridge financing commitments. Management stresses that it remains committed to its investment-grade ratings and will prioritize deleveraging afterward. Cencora expects the acquisition to be roughly EPS-neutral, net of financing costs, to adjusted diluted EPS in the first twelve months after close. Fiscal 2026 guidance of $17.45 to $17.75 adjusted diluted EPS is reiterated but excludes the deal, and the company has paused share repurchases, so results are more likely to land in the lower half of the range. The transaction also lifts long-term guidance. Adjusted operating income growth is now 7% to 10%, capital deployment is 3% to 4%, and adjusted diluted EPS growth is 10% to 14%. Management frames the deal as extending its U.S. Healthcare Solutions and management services organization (MSO) footprint in specialty and oncology, building on the recent Retina Consultants of America acquisition. Investors should weigh the strategic upside against leverage, integration, and physician retention risks.

Dec 15, 2025 10-K

Cencora, Inc. Annual Report, Year Ended Sep 30, 2025

Cencora, Inc. (COR) reported strong revenue growth of 9.3% for fiscal year 2025, reaching $321.3 billion, driven by its U.S. Healthcare Solutions segment. This growth was significantly boosted by increased sales of specialty products and a substantial $7.7 billion in sales for GLP-1 class diabetes and weight loss medications. The company also saw a healthy increase in gross profit of 15.8%, primarily attributed to the U.S. segment's performance, including the recent acquisition of RCA, and higher gains from antitrust litigation settlements. Despite overall positive financial trends, Cencora recorded a significant goodwill impairment of $723.9 million related to its PharmaLex reporting unit, impacting operating expenses. The company's debt also increased significantly due to financing activities for the RCA acquisition, leading to a substantial rise in interest expenses. Looking ahead, Cencora continues to focus on optimizing its U.S. and international healthcare solutions, exploring strategic acquisitions, and managing its diversified business segments.

Nov 25, 2025 8-K

Cencora, Inc. 8-K Report, Financial Results (Nov 5, 2025)

Cencora (COR) reported fiscal Q4 2025 revenue of $83.7 billion, up 5.9% year over year, and fiscal 2025 revenue of $321.3 billion, up 9.3%. GAAP results were weak in the quarter: diluted EPS was $(1.75) versus $0.02 a year earlier, driven by a $723.9 million PharmaLex goodwill impairment, a $113.5 million equity investment impairment, and elevated acquisition-related and restructuring costs. On an adjusted basis, diluted EPS rose 15.0% to $3.84 and adjusted operating income grew 20.2% to $1.0 billion. For the full year, GAAP diluted EPS was $7.96 (up 5.7%) and adjusted diluted EPS was $16.00 (up 16.3%), with the increase largely attributable to the January 2025 acquisition of Retina Consultants of America (RCA) and continued growth in U.S. Healthcare Solutions. Management raised its long-term adjusted EPS growth target to 9% to 13% and adjusted operating income growth to 6% to 9%, and announced a 9% increase in the quarterly dividend to $0.60 per share. For fiscal 2026, it guides to adjusted diluted EPS of $17.45 to $17.75 (roughly 9% to 11% growth), revenue growth of 5% to 7%, and adjusted free cash flow of about $3.0 billion. The company also announced a strategic reorganization effective fiscal Q1 2026: a new reporting structure with U.S. Healthcare Solutions and International Healthcare Solutions as reportable segments, and an 'Other' category containing businesses under strategic review (MWI Animal Health, Profarma, U.S. Consulting Services and parts of PharmaLex). Investors should weigh the strong adjusted growth against recurring GAAP charges, a sharply higher debt load (long-term debt rose to $7.5 billion from $3.8 billion), and the portfolio pruning now underway. The filing also notes $1 billion in planned U.S. distribution investments through 2030, including a second national distribution center and expanded cold-chain capacity to support specialty pharmaceuticals. Net interest expense rose 85.7% for the year to $292 million, reflecting acquisition financing, and fiscal 2026 net interest expense is guided to $315 million to $335 million.

Nov 5, 2025 8-K

Cencora, Inc. 8-K Report, Material Agreement (Sep 9, 2025)

Cencora, Inc. (COR) has filed an 8-K report on September 9, 2025, detailing amendments to its credit facilities. The company entered into Amendment No. 2 to its Term Credit Agreement, which revises the maturity date of its senior unsecured term loan to October 1, 2027, from the previous January 2, 2028. Additionally, the interest rate structure for this term loan has been modified, with applicable margins now ranging from 62.5 to 125.0 basis points over the adjusted Term SOFR rate, dependent on Cencora's public debt ratings. These changes suggest a proactive approach to managing its debt obligations and capital structure in response to market conditions or internal strategic decisions. Furthermore, Cencora also amended its Uncommitted Money Market Line Credit Agreement. The key change here is an adjustment to the borrowing limits, allowing for up to $500 million between April 1 and December 1, and a higher limit of $750 million between December 1 and March 31 annually. This provides increased flexibility for short-term financing needs, particularly around peak seasonal business activities. Investors should note that both credit facilities remain subject to potential changes or termination by the involved banks or the company.

Sep 9, 2025 8-K

Cencora, Inc. 8-K Report, Corporate Update (Sep 3, 2025)

Cencora, Inc. (COR) disclosed in this Form 8-K, filed September 3, 2025, that it has reached a proposed settlement of the stockholder derivative action Lebanon County Employees' Retirement Fund v. Collis (C.A. No. 2021-1118-JTL) in Delaware's Court of Chancery. Under the Stipulation dated August 15, 2025, the Company's insurance carriers would pay $111.25 million into escrow, less any attorneys' fees and litigation expenses the Court awards to plaintiffs' counsel. The proceeds would go to the Company, not to individual stockholders, and no proof-of-claim action is required from shareholders. The settlement is subject to Court approval, with a Settlement Hearing scheduled for November 13, 2025. The case alleges that the Board and certain officers breached fiduciary duties through oversight of controlled substance diversion controls, tied to the Company's opioid distribution. The complaint sought damages the plaintiffs alleged cost the Company more than $7 billion. The defendants deny all wrongdoing, and the Stipulation contains no admission of liability. The matter had been stayed since March 2024 while a Special Litigation Committee investigated the allegations. The SLC reached an agreement in principle after a June 24, 2025 mediation before Judge Layn Phillips. For investors, the key takeaways are that the payment is funded by insurers rather than Company cash, that it is a relatively modest recovery relative to the alleged damages, and that the settlement resolves derivative claims against the individual defendants without any admission of fault. Remaining risks include whether the Court approves the settlement, how much of the payment is reduced by fee awards, and the fact that the release does not cover direct securities claims by stockholders. The settlement does not appear to resolve the separate DOJ civil action filed in December 2022 against the Company under the Controlled Substances Act.

Sep 3, 2025 8-K

Cencora, Inc. 8-K Report, Executive Changes (Aug 27, 2025)

On August 27, 2025, Cencora (NYSE: COR) announced a board leadership transition: Lead Independent Director D. Mark Durcan will become Chairman of the Board effective October 1, 2025, succeeding Steven H. Collis. Collis, who has chaired the board since 2016 and was Executive Chairman since October 2024, will retire from the Board and as Executive Chairman at the end of the fiscal year ending September 30, 2025. The filing states his retirement was not due to any disagreement with the Company on operations, policies, or practices. As a result of Collis's departure, the Board will shrink from 11 to 10 directors upon his retirement. Durcan has served on the board since 2015 and as Lead Independent Director since 2023, and is the retired CEO of Micron Technology. CEO Robert P. Mauch framed the appointment as supporting the company's pharmaceutical-centric strategy and its track record of sustainable long-term growth. From an investor standpoint, this is primarily a governance update rather than a financial disclosure: the filing contains no earnings, guidance, or financial metrics. The transition is orderly and planned, since Collis's exit was previously reported, and it keeps a director with long board tenure in the chair role. Investors may watch for any changes in board committee leadership or the Lead Independent Director role that will be vacated by Durcan's promotion.

Aug 27, 2025 10-Q

Cencora, Inc. Quarterly Report for Q3 Ended Jun 30, 2025

Cencora, Inc. (COR) reported strong revenue growth in its fiscal third quarter of 2025, with an 8.7% increase year-over-year, reaching $80.7 billion. This growth was driven by solid performance across both its U.S. and International Healthcare Solutions segments. Notably, the U.S. segment saw a significant contribution from increased sales of GLP-1 class drugs for diabetes and weight loss, which grew 18.6% in the quarter. Profitability also showed improvement, with gross profit rising 20.6% year-over-year, largely due to higher sales volumes and the positive impact of a LIFO credit this year compared to an expense last year. The acquisition of Retina Consultants of America (RCA) in January 2025 has begun to contribute positively to the U.S. segment's results. While operating expenses increased, primarily due to integration costs from RCA, overall segment operating income grew by 20.6%. The company also continues to manage its debt effectively, with significant credit facility capacity, and reiterated its commitment to shareholder returns through dividends and share repurchases.

Aug 6, 2025 8-K

Cencora, Inc. 8-K Report, Financial Results (Aug 6, 2025)

Cencora (COR) reported fiscal Q3 2025 (quarter ended June 30, 2025) with revenue of $80.7 billion, up 8.7% year-over-year, driven by 8.5% growth in U.S. Healthcare Solutions and 10.5% growth in International Healthcare Solutions. GAAP diluted EPS was $3.52 (up 45.5%), while adjusted diluted EPS, a non-GAAP measure, rose 19.8% to $4.00. Adjusted operating income grew 20.6% to $1.1 billion, with the U.S. segment (up 29.1% in operating income, boosted by GLP-1 product volume and the January 2025 acquisition of Retina Consultants of America) doing most of the work. International operating income fell 12.9%, pulled down by the global specialty logistics and specialized consulting businesses. Management raised its fiscal 2025 adjusted diluted EPS guidance to $15.85–$16.00 from $15.70–$15.95, citing stronger U.S. Healthcare Solutions earnings. Adjusted operating income growth guidance moved up to 15–16%, and U.S. segment operating income growth is now expected at 20–21%. The International segment outlook was mixed: revenue growth was raised to 6–7%, but operating income is now expected to decline about 6%, a weaker view than before. Investors should also note the balance-sheet shift from the RCA acquisition: long-term debt rose to about $8.0 billion from $3.8 billion at September 30, 2024, and interest expense, net, more than doubled from the prior-year quarter. Nine-month adjusted free cash flow was only $92.5 million, and GAAP operating cash flow fell to $741.7 million from $2.48 billion a year earlier, largely because of working capital changes. The company also declared a quarterly dividend of $0.55 per share, payable September 3, 2025, to holders of record on August 15, 2025. This filing is a furnished (not filed) 8-K that attaches the earnings press release and points to the conference call on August 6, 2025 at 8:30 a.m. ET.

Aug 6, 2025 8-K

Cencora, Inc. 8-K Report, Material Agreement (Jul 3, 2025)

Cencora, Inc. (COR) has filed a Form 8-K detailing an amendment to its securitization facility. Effective June 30, 2025, the company, through its subsidiaries, entered into a Twenty-Second Amendment to its Amended and Restated Receivables Purchase Agreement. This amendment is significant as it increases the overall capacity of the receivables securitization facility and enhances its flexibility, providing Cencora with greater access to liquidity for its ongoing business operations. Key changes include an increase in the facility size to $1.5 billion from $1.45 billion, and importantly, an expansion of the "Accordion Feature." This feature now allows Cencora to potentially increase commitments by an additional $500 million (up from $250 million) and makes this option available on a quarterly basis, subject to bank approval. The facility is crucial for funding operations by leveraging accounts receivables from pharmaceutical sales, with Cencora acting as a performance guarantor for its subsidiaries involved in the securitization process.

Jul 3, 2025 8-K

Cencora, Inc. 8-K Report, Material Agreement (Jun 6, 2025)

Cencora, Inc. (COR) has filed an 8-K report detailing significant amendments to its credit facilities. The company has amended and restated its senior unsecured multi-currency revolving credit facility, increasing the total commitments to $4.5 billion and extending the maturity date to June 4, 2030. Additionally, Cencora amended its senior unsecured term loan facility. These actions indicate a strategic move to bolster its financial flexibility and extend its access to capital. The amendments also include adjustments to covenants, interest rates, and fees, aligning with the company's current financial standing and market conditions. Furthermore, Cencora announced the termination of its 364-day senior unsecured revolving credit facility, which was set to expire in January 2026. This termination, coupled with the enhancement of the longer-term revolving credit facility, suggests a consolidation of Cencora's borrowing arrangements to favor more extended and substantial credit lines for its general corporate purposes. Investors should note the increased borrowing capacity and extended debt maturity as key indicators of the company's financial strategy and its ability to support future operations and growth.

Jun 6, 2025 8-K

Cencora, Inc. 8-K Report, Executive Changes (May 28, 2025)

Cencora, Inc. (COR) filed an 8-K on May 28, 2025 disclosing two board changes and a related press release. The Board appointed Lori J. Ryerkerk as an independent director effective June 1, 2025. Ms. Ryerkerk is the former Chairman, President and CEO of Celanese and brings public-company CEO and global supply chain and manufacturing operations experience. She has not yet been assigned to any Board committees, and her compensation will be pro-rated through the 2026 Annual Meeting of Stockholders. The filing also discloses the resignation of Ornella Barra, a director since 2015 who sat on the Finance Committee and the Compliance and Risk Committee. She resigned on May 27, 2025, effective immediately. The company states her departure was not due to any disagreement over operations, policies or practices. The resignation is tied to Walgreens Boots Alliance (WBA) falling below 5% ownership after the scheduled early-June settlement of prepaid variable share forward transactions. WBA does not currently intend to use its 5% stockholder right to designate a replacement, and once its stake drops below 5% it will lose the right to designate directors under the Amended and Restated Shareholders Agreement. For investors, the filing is primarily governance-related and carries no disclosed financial impact. The notable signal is the reduction of WBA's influence over the Board, which removes a long-standing designation right tied to its large shareholding. The Ryerkerk appointment adds operational and supply chain expertise that management frames as supporting the company's end-to-end healthcare services strategy.

May 28, 2025 8-K

Cencora, Inc. 8-K Report, Material Agreement (May 22, 2025)

Cencora, Inc. (COR) has filed an 8-K report detailing the completion of a significant debt offering, raising a total of €1 billion through the issuance of two series of senior notes. Specifically, the company sold €500,000,000 aggregate principal amount of 2.875% Senior Notes due May 22, 2028, and €500,000,000 aggregate principal amount of 3.625% Senior Notes due May 22, 2032. These notes are unsecured and unsubordinated, ranking equally with existing unsecured and unsubordinated debt but are structurally subordinated to subsidiary indebtedness. The proceeds from this offering will likely be used for general corporate purposes, though not explicitly stated in the filing. The inclusion of standard covenants related to liens, sale and leaseback transactions, and limitations on mergers and asset sales are typical for such debt issuances. Investors should note the redemption provisions, which allow Cencora to call the notes under specific conditions and prices, and the events of default that could trigger accelerated repayment.

May 22, 2025 8-K

Cencora, Inc. 8-K Report, Corporate Update (May 19, 2025)

Cencora, Inc. (COR) announced on May 19, 2025, that it has entered into an Underwriting Agreement to issue and sell €1 billion in aggregate principal amount of senior unsecured notes. This offering comprises €500 million of 2.875% Senior Notes due 2028 and €500 million of 3.625% Senior Notes due 2032. The company anticipates receiving net proceeds of approximately €994.0 million from this transaction, after accounting for underwriting discounts and offering expenses. The proceeds from this offering are earmarked for general corporate purposes. Pending their ultimate use, Cencora plans to invest these funds in high-quality, short-term debt securities. This move to secure additional long-term financing suggests a strategic approach to capital management and potentially funding ongoing or future business initiatives.

May 19, 2025 10-Q

Cencora, Inc. Quarterly Report for Q2 Ended Mar 31, 2025

Cencora, Inc. reported a strong first quarter for fiscal year 2025, demonstrating robust revenue growth driven by its U.S. Healthcare Solutions segment. Total revenue for the quarter increased by 10.3% year-over-year, reaching $75.5 billion, with the U.S. segment experiencing a significant 11.4% rise. This growth was bolstered by strong unit volume increases, notably a 36.1% surge in sales of GLP-1 class drugs for diabetes and weight loss, totaling $2.2 billion. Net income attributable to Cencora, Inc. rose to $717.9 million, a substantial increase from $420.8 million in the prior year's first quarter, translating to diluted earnings per share of $3.68. The company also benefited from a substantial gain related to antitrust litigation settlements, contributing significantly to the increase in gross profit. Despite increased operating expenses, largely due to the recent acquisition of Retina Consultants of America (RCA) and associated integration costs, the company managed to expand its operating income by 87.3% year-over-year to $1,036.2 million. Cencora also highlighted continued capital allocation through share repurchases and dividend payments.

May 7, 2025 8-K

Cencora, Inc. 8-K Report, Financial Results (May 7, 2025)

Cencora (COR) reported fiscal Q2 2025 results (quarter ended March 31, 2025) with revenue of $75.5 billion, up 10.3% year-over-year, driven by an 11.4% increase in U.S. Healthcare Solutions revenue, including GLP-1 and specialty product volume growth. GAAP diluted EPS was $3.68 (vs. $2.09 a year earlier, up 76.1%), while adjusted diluted EPS rose 16.3% to $4.42. GAAP results were boosted by a $198.6 million gain from antitrust litigation settlements, which investors should weigh as non-recurring, and were reduced by acquisition-related amortization, integration costs, and restructuring charges. Operating income rose 87.3% on a GAAP basis to $1.0 billion, while adjusted operating income grew 15.3% to $1.2 billion. Management raised its fiscal 2025 adjusted diluted EPS guidance to $15.70-$15.95 from $15.30-$15.60, reflecting stronger U.S. Healthcare Solutions earnings growth (segment operating income growth now 17.5%-19.5%, up from 14.5%-16.5%). Partly offsetting this, International Healthcare Solutions guidance was lowered, with reported segment operating income now expected to decline 1% to 4%. Results were affected by the January 2025 acquisition of Retina Consultants of America (RCA), which lifted gross margin and operating expenses and substantially increased debt, funded by $1.8 billion of senior notes and a $1.5 billion term loan. Net debt and other long-term liabilities rose meaningfully, and total equity increased to $1.18 billion, which investors should monitor against higher interest expense, which rose 62.2% to $104 million in the quarter. The company also declared a quarterly dividend of $0.55 per share, payable June 2, 2025, and reduced diluted share count by 3.0% year-over-year through buybacks. Cash flow from operations was modest for the six-month period at $632.5 million, down from prior-year levels in that period's cash flow presentation, with adjusted free cash flow of $176.0 million, reflecting working capital outflows and acquisition spending.

May 7, 2025 8-K

Cencora, Inc. 8-K Report, Regulation FD Disclosure (Mar 10, 2025)

Cencora, Inc. (COR) has filed an 8-K to disclose an update to its fiscal year 2025 financial guidance, which will be presented at the Leerink Partners Global Healthcare Conference on March 10, 2025. The company has raised its adjusted diluted earnings per share (EPS) forecast for FY2025 to a range of $15.30 to $15.60, an increase from the prior guidance of $15.25 to $15.55. This upward revision is attributed to continued positive momentum in the Company's core U.S. Healthcare Solutions segment during the second quarter of fiscal 2025. Importantly, this updated guidance does not incorporate any changes or expectations related to the recently completed acquisition of Retina Consultants of America, suggesting that potential impacts from this acquisition have not yet been factored into the revised EPS outlook. Investors should note that the provided EPS is a non-GAAP measure, and the company details specific exclusions used in its calculation, such as gains from antitrust litigation, amortization of acquisition-related intangibles, and other one-time or non-recurring items. Cencora emphasizes that this non-GAAP measure is used by management for operational evaluation and performance assessment.

Mar 10, 2025 8-K

Cencora, Inc. 8-K Report, Shareholder Vote Results (Mar 10, 2025)

Cencora, Inc. (COR) filed an 8-K on March 10, 2025, detailing the results of its 2025 Annual Meeting of Shareholders held on March 6, 2025. The filing confirms that all incumbent directors were re-elected, indicating continued shareholder confidence in the current board's leadership. Additionally, shareholders approved the company's executive compensation, often referred to as 'say-on-pay,' and ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2025. These outcomes suggest a stable governance environment for Cencora. The overwhelming support for director re-elections and the ratification of the accounting firm are positive signals for investors, reinforcing the company's established operational and oversight structures. The approval of executive compensation further aligns shareholder interests with management's performance, though the specifics of this compensation are detailed in the prior proxy statement.

Mar 10, 2025 8-K

Cencora, Inc. 8-K Report, Material Agreement (Feb 10, 2025)

On February 6, 2025, Cencora (COR) agreed to repurchase 204,491 of its common shares from Walgreens Boots Alliance Holdings LLC for approximately $50 million, at the same price at which Walgreens sold shares under a concurrent Rule 144 sale. The repurchase closed February 10, 2025, was executed under Cencora's existing share repurchase program, and the shares will be held in treasury. The transaction is modest in size relative to Cencora's share count and revenue base, so it is unlikely to be financially material on its own. Its main significance is that it is a direct, negotiated buyback from a large holder that was unwinding its position alongside a series of variable prepaid forward (VPF) settlements. The filing describes Walgreens' overall position as a block of stock being monetized through several channels at once. Simultaneously with the sale and repurchase, Walgreens settled certain VPF contracts early and had pledged shares returned. After these steps, Walgreens holds about 12,570,000 shares, roughly 6.5% of Cencora's outstanding common stock, and the remaining shares stay pledged against other VPF contracts. Investors should therefore view the overhang as partly reduced but not eliminated. The filing does not give a timetable for further sales or settlements of those remaining pledged shares. For shareholders, the key takeaways are that Cencora used cash from its existing buyback authorization to retire a small block, reducing its outstanding share count by about 0.1%, and that a large holder continues to reduce its exposure over time. The 8-K does not disclose the per-share price, the impact on earnings or guidance, or any change to capital return policy, so those details would need to come from the press release, the 10-K/10-Q, or management commentary.

Feb 10, 2025 8-K

Cencora, Inc. 8-K Report, Financial Results (Feb 5, 2025)

Cencora (COR) reported fiscal Q1 2025 results (quarter ended December 31, 2024) with revenue of $81.5 billion, up 12.8% year-over-year, driven by a 13.6% increase in U.S. Healthcare Solutions revenue. GAAP diluted EPS was $2.50, down 16.1% from $2.98 a year earlier, while adjusted diluted EPS rose 13.7% to $3.73. The GAAP decline reflects higher operating expenses, including litigation and opioid-related expenses that swung from a credit last year, plus a $35.5 million loss on divestiture of non-core businesses and acquisition-related amortization. Gross margin compressed 28 basis points to 3.14%, largely due to lower-margin GLP-1 diabetes and weight-loss product sales and lower COVID-19 vaccine and exclusive therapy sales. Management raised its fiscal 2025 adjusted diluted EPS guidance to $15.25-$15.55 from $15.15-$15.45, and lifted revenue growth guidance to 8-10% and adjusted operating income growth to 11.5-13.5%. The guidance raise is supported by momentum in U.S. Healthcare Solutions and the January 2, 2025 closing of the Retina Consultants of America acquisition. Investors should note that net interest expense guidance more than doubled to $290-$310 million, reflecting debt raised for the acquisition and seasonal working capital borrowings. Operating cash flow was negative $2.7 billion in the quarter, driven by inventory build and receivables growth, and total debt rose sharply, with short-term debt of $2.2 billion and long-term debt of $5.9 billion. The company also declared a quarterly dividend of $0.55 per share, payable March 3, 2025, to holders of record on February 14, 2025. Total equity fell to $362 million from $787 million at fiscal year-end, a figure investors may want to monitor alongside the leverage increase. The release is furnished under Item 2.02 and 7.01 rather than filed, so its contents are not subject to Section 18 liability.

Feb 5, 2025 10-Q

Cencora, Inc. Quarterly Report for Q1 Ended Dec 31, 2024

Cencora, Inc. reported strong revenue growth in the fourth quarter of fiscal year 2024, with a 12.8% increase year-over-year, driven primarily by its U.S. Healthcare Solutions segment. This growth was bolstered by significant sales of GLP-1 class products for diabetes and weight loss, as well as increased specialty product sales. Despite the revenue surge, net income attributable to Cencora, Inc. saw a decline to $488.6 million from $601.5 million in the prior year's comparable period, leading to a decrease in diluted earnings per share from $2.98 to $2.50. This profitability dip can be attributed to higher operating expenses, including increased litigation and opioid-related expenses, and a decrease in gains from antitrust litigation settlements. The company also completed a significant acquisition of Retina Consultants of America (RCA) for $4.4 billion in early January 2025, further impacting its financial position and future growth trajectory.

Feb 5, 2025 8-K

Cencora, Inc. 8-K Report, Executive Changes (Jan 22, 2025)

Cencora, Inc. (COR) announced that two long-serving members of its Board of Directors, Richard W. Gochnauer and Kathleen W. Hyle, have informed the company of their intent to retire at the upcoming Annual Meeting of Stockholders on March 6, 2025. Mr. Gochnauer, who joined the board in 2008, has been a member of the Audit Committee and the Compliance and Risk Committee. Ms. Hyle, a director since 2010, currently chairs the Compensation and Succession Planning Committee and is also a member of the Executive Committee and Finance Committee. This transition will result in a reduction of the Board size from 13 to 11 members, effective after the Annual Meeting. Both directors indicated their intent to continue serving until the meeting and confirmed there were no disagreements with the company regarding their decision to retire. Investors should note that these retirements do not appear to be performance-related, as no disagreements were cited.

Jan 22, 2025 8-K

Cencora, Inc. 8-K Report, Acquisition Completed (Jan 2, 2025)

On January 2, 2025, Cencora, Inc. (NYSE: COR) completed its previously announced acquisition of Retina Consultants of America (RCA), a management services organization (MSO) of retina specialists, from Webster Equity Partners. Cencora acquired an approximately 85% interest in RCA, with certain RCA physicians and management team members retaining the remaining minority equity. The cash outlay at closing was $4.4 billion, net of the equity rollover, the cash capitalization of RCA, transaction fees and expenses, and debt repayment, and remains subject to a customary post-closing purchase price adjustment. Strategically, the deal is intended to strengthen Cencora's leadership in specialty pharmaceuticals, expand its MSO solutions, and deliver differentiated value to physicians and patients. Alongside the closing, Cencora raised its fiscal 2025 adjusted diluted EPS guidance to $15.15-$15.45 from $14.80-$15.10. The company attributes the raise to the expected contribution from RCA and continued momentum in its U.S. Healthcare Solutions segment. Cencora does not provide GAAP guidance, citing items whose significance cannot be reasonably estimated. For investors, the key considerations are the size of the capital commitment relative to the company's balance sheet, the execution risk around integrating a physician-based MSO (including retaining key physicians and achieving targeted synergies), and management's stated commitment to de-leveraging while maintaining its investment grade rating. The filing itself offers limited detail on RCA's standalone financials or the purchase price allocation, so investors should look to upcoming earnings disclosures for evidence of contribution and returns on the investment.

Jan 2, 2025 8-K

Cencora, Inc. 8-K Report, Material Agreement (Dec 10, 2024)

Cencora, Inc. (COR) closed a $1.8 billion underwritten senior notes offering on December 9, 2024, consisting of $500 million of 4.625% Senior Notes due December 2027, $600 million of 4.850% Senior Notes due December 2029, and $700 million of 5.150% Senior Notes due February 2035. The notes are unsecured, rank equally with the company's existing unsecured senior debt, and are structurally subordinated to all liabilities of its subsidiaries. The indentures contain customary covenants limiting liens, sale-leaseback transactions, and mergers or asset sales, along with standard events of default. The proceeds are earmarked primarily to finance the majority of the proposed acquisition of Retina Consultants of America, with the remainder for general corporate purposes. The company had earlier secured $3.3 billion in bridge commitments for the deal; a $1.5 billion senior unsecured term loan was entered into on November 26, 2024, and the remaining $1.8 billion of bridge commitments was terminated upon receipt of the bond proceeds. This refinancing replaces short-term bridge funding with longer-dated fixed-rate debt, reducing near-term refinancing risk. Importantly, the notes carry a special mandatory redemption at 101% of principal if the Retina Consultants acquisition is not completed by August 5, 2025 or is terminated beforehand. Investors should therefore monitor the deal's closing status, as the financing structure would unwind in that scenario, and should weigh the incremental leverage and roughly $1.8 billion of new interest-bearing debt against the strategic benefits of the acquisition in Cencora's specialty and ophthalmology-related retina care business.

Dec 10, 2024 8-K

Cencora, Inc. 8-K Report, Regulation FD Disclosure (Dec 4, 2024)

On December 2, 2024, Cencora (NYSE: COR) priced a $1.8 billion senior unsecured notes offering in three tranches: $500 million of 4.625% notes due 2027, $600 million of 4.850% notes due 2029, and $700 million of 5.150% notes due 2035. The Company expects to receive net proceeds of approximately $1.79 billion after underwriting discounts and offering expenses, with closing expected on December 9, 2024. The offering was made under a shelf registration statement filed November 26, 2024. The proceeds are earmarked primarily to finance a portion of the proposed acquisition of the majority of Retina Consultants of America, along with related fees and expenses and general corporate purposes. The offering is not contingent on the acquisition closing, which is expected to occur after the notes sale closes. Until deployed, the Company intends to hold the proceeds in high-quality, short-term debt securities. For investors, the filing signals a material increase in debt, with the new notes representing a meaningful layer of leverage added to fund a specialty ophthalmology services deal. The filing also discloses extensive existing banking relationships. Several underwriters, including BofA Securities, Citigroup, J.P. Morgan and Wells Fargo, serve in multiple capacities across Cencora's revolving credit facility, commercial paper program, receivables securitization facility, a new term loan facility and a 364-day revolver dated November 26, 2024, and bridge financing commitments. As of September 30, 2024, there were no borrowings under the multi-currency revolver or receivables facility. The disclosure indicates the company is refinancing and bridging its acquisition funding through a combination of bonds, term loans and short-term facilities.

Dec 4, 2024 8-K

Cencora, Inc. 8-K Report, Material Agreement (Nov 27, 2024)

Cencora, Inc. (COR) has filed an 8-K report detailing the execution of two significant credit facilities on November 26, 2024, which are crucial for financing its previously announced acquisition of Retina Consultants of America. The company entered into a $1.5 billion senior unsecured term loan facility, primarily to fund a portion of the acquisition's cash consideration and related expenses. This term loan matures three years from its draw date and bears interest based on Cencora's public debt ratings. In addition to the term loan, Cencora also secured a $1.0 billion senior unsecured revolving credit facility. This facility, available after the acquisition closes, matures 364 days after the closing date, with an option for extension. The proceeds from this revolving credit facility are designated for general corporate purposes. Both agreements include covenants substantially similar to Cencora's existing credit facilities, focusing on financial leverage ratios and other standard restrictions. The execution of the term loan has also reduced the company's previously arranged $3.3 billion in bridge financing commitments to $1.8 billion.

Nov 27, 2024 10-K

Cencora, Inc. Annual Report, Year Ended Sep 30, 2024

Cencora, Inc. (COR) reported a strong fiscal year 2024, with revenue increasing by 12.1% to $293.96 billion, driven primarily by growth in its U.S. Healthcare Solutions segment. This growth was fueled by increased unit volumes, notably in GLP-1 class drugs for diabetes and weight loss, specialty products, and COVID-19 therapies and vaccines. The company also experienced robust gross profit growth of 10.6%, benefiting from increased sales and a favorable shift from LIFO expense to a LIFO credit. However, operating expenses saw a significant increase of 16.9%, largely due to a $418 million goodwill impairment related to PharmaLex and increased litigation and opioid-related expenses. Despite these headwinds, total segment operating income grew by 10.9%, showcasing the underlying strength of its core businesses. A major development during the year was the agreement to acquire Retina Consultants of America (RCA) for approximately $4.6 billion, signaling a strategic move into new growth areas, funded by a combination of cash and debt. Cencora continues to prioritize shareholder returns, with a consistent increase in quarterly dividends and ongoing share repurchase programs. The company's financial health remains solid, supported by strong operating cash flows and access to credit facilities, although it faces ongoing industry challenges such as pricing pressures and regulatory complexities.

Nov 26, 2024 8-K

Cencora, Inc. 8-K Report, Regulation FD Disclosure (Nov 8, 2024)

On November 5, 2024, Cencora, Inc. (NYSE: COR) entered into a definitive agreement to acquire Retina Consultants of America (RCA), a leading management services organization (MSO) of retina specialists, from private equity owner Webster Equity Partners. The deal is valued at an enterprise value of approximately $4.6 billion, subject to customary working capital and net-debt adjustments. After accounting for RCA's rollover equity from affiliated practices, physicians and management, a planned cash capitalization of RCA, and transaction fees and expenses, Cencora's expected cash outlay at closing is approximately $4.3 billion. Cencora expects to own about 85% of RCA at closing and may pay up to $500 million in additional contingent consideration across fiscal years 2027 and 2028 if predefined business objectives are met. The transaction is expected to be approximately $0.35 accretive to adjusted diluted EPS in the first twelve months, net of estimated financing costs. Cencora plans to fund the deal with a combination of cash on hand and new debt, and has obtained $3.3 billion in bridge financing commitments. Management emphasized maintaining its investment-grade credit rating and prioritizing de-leveraging after closing. Fiscal 2025 guidance does not yet include RCA, and will be updated after the transaction closes. Closing is subject to customary conditions, including required regulatory approvals. Strategically, the acquisition expands Cencora's presence in community providers and its specialty business, building on its recent investment in OneOncology. RCA operates with nearly 300 retina specialists across 23 states, over 2 million annual patient visits, and a clinical research network of 40 trial sites with 400 dedicated research employees. For investors, the key considerations are the size of the cash outlay relative to Cencora's balance sheet, the leverage impact and rating implications, and whether the company can execute on integration and the contingent earn-out targets.

Nov 8, 2024 8-K

Cencora, Inc. 8-K Report, Financial Results (Nov 6, 2024)

Cencora (COR) reported fiscal Q4 2024 (quarter ended September 30, 2024) and full-year results that were sharply split between strong underlying operations and a large one-time non-cash charge. Revenue rose 14.7% to $79.1 billion in the quarter and 12.1% to $294.0 billion for the year, driven by U.S. Healthcare Solutions (up 15.7% in the quarter), including strong GLP-1 volume. However, GAAP diluted EPS collapsed to $0.02 from $1.72 a year earlier, primarily due to a $418 million goodwill impairment related to PharmaLex, which is largely non-deductible and pushed the GAAP effective tax rate to 94.0%. On an adjusted basis, quarterly diluted EPS rose 16.8% to $3.34 and full-year adjusted EPS rose 14.8% to $13.76. Adjusted operating income grew 6.3% in the quarter and 10.9% for the year, though gross margin pressure from lower-margin GLP-1 products was notable. The company also issued fiscal 2025 adjusted guidance calling for 7-9% revenue growth, 5-6.5% adjusted operating income growth, and adjusted diluted EPS of $14.80-$15.10 (8-10% growth). Guidance excludes the pending acquisition of Retina Consultants of America, which will be incorporated after closing. Management also raised the quarterly dividend 8% to $0.55 per share and completed a CEO transition, with Robert Mauch succeeding Steven Collis (who became Executive Chairman) effective October 1, 2024. Investors should weigh the strong adjusted growth and bullish guidance against the recurring nature of certain 'non-recurring' adjustments (acquisition amortization, restructuring) and the ongoing litigation and opioid-related expenses, which totaled $227 million for the year on a GAAP basis.

Nov 6, 2024