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Jun 30, 2024
Cencora Q3 2024 Earnings Report
Revenue increased by 10.9% year-over-year, with GAAP diluted EPS at $2.42 and adjusted diluted EPS at $3.34, leading to an updated guidance range for fiscal year 2024.
Key Takeaways
Cencora reported a strong third quarter in fiscal year 2024, with revenue reaching $74.2 billion, a 10.9% increase year-over-year. Adjusted diluted EPS increased by 14.4% to $3.34. The company has raised its fiscal year 2024 adjusted diluted EPS guidance to a range of $13.55 to $13.65.
Revenue increased by 10.9% year-over-year to $74.2 billion.
GAAP diluted EPS was $2.42, compared to $2.35 in the prior year.
Adjusted diluted EPS increased by 14.4% to $3.34, from $2.92 in the prior year.
Fiscal year 2024 adjusted diluted EPS guidance has been raised to $13.55 to $13.65.
Cencora
Cencora
Cencora Revenue by Segment
Cencora Revenue by Geographic Location
Revenue by Segment
U.S. Healthcare Revenue
CapyFin.comIntl. Healthcare Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Cencora is updating its fiscal year 2024 financial guidance to reflect expected continued strong business performance in the U.S. Healthcare Solutions segment, tapered expectations in the International Healthcare Solutions segment and a lower net interest expense.
Positive Outlook
- Revenue growth to be approximately 12 percent, from the previous range of 10 to 12 percent.
- U.S. Healthcare Solutions revenue growth to be in the range of 12 to 13 percent, from the previous range of 11 to 13 percent.
- International Healthcare Solutions revenue growth to be in the range of 4 to 6 percent, from the previous range of 4 to 7 percent.
- Adjusted diluted earnings per share to be in the range of $13.55 to $13.65, up from the previous range of $13.35 to $13.55.
- Adjusted free cash flow to be in the range of $2.5 billion to $3.0 billion, up from the previous expectation of approximately $2.5 billion.
Challenges Ahead
- Tapered expectations in the International Healthcare Solutions segment
- Company does not provide forward-looking guidance on a GAAP basis.
- Weighted average diluted shares outstanding are expected to be under 201 million, from the previous range of approximately 201 to 202 million
- Net interest expense to be in the range of $170 million to $190 million, from the previous range of $185 million to $215 million.
- Adjusted consolidated operating income growth to be in the range of 10 to 11 percent, from the previous range of 9 to 11 percent
Revenue & Expenses
Visualization of income flow from segment revenue to net income