Cencora Q2 2024 Earnings Report
Key Takeaways
Cencora reported a strong second quarter with revenue increasing by 7.8% year-over-year to $68.4 billion. GAAP diluted EPS was $2.09, while adjusted diluted EPS increased by 8.6% to $3.80. The company raised its adjusted diluted EPS guidance for fiscal year 2024 to a range of $13.30 to $13.50.
Revenue increased by 7.8% year-over-year to $68.4 billion.
GAAP diluted EPS was $2.09, compared to $2.13 in the prior year.
Adjusted diluted EPS increased by 8.6% to $3.80, from $3.50 in the prior year.
Adjusted diluted EPS guidance raised to $13.30 to $13.50 for fiscal year 2024.
Cencora
Cencora
Forward Guidance
Cencora updated its fiscal year 2024 financial guidance to reflect expected continued solid business performance for the full year and a higher effective tax rate and expected share count.
Positive Outlook
- Adjusted diluted earnings per share to be in the range of $13.30 to $13.50.
- International Healthcare Solutions segment revenue growth to be in the range of 4 to 7 percent.
- Adjusted consolidated operating income growth to be in the range of 9 to 11 percent.
- U.S. Healthcare Solutions segment operating income growth to be in the range of 10 to 12 percent.
- Weighted average diluted shares outstanding are expected to be approximately 201 to 202 million.
Challenges Ahead
- The Company does not expect exclusive COVID-19 therapy contributions for the balance of fiscal 2024
- Adjusted effective tax rate to be approximately 21 percent.