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Sep 30, 2023
Cencora Q4 2023 Earnings Report
Cencora's Q4 2023 earnings were reported, showing revenue increase and strong segment performance.
Key Takeaways
Cencora reported a 12.7% increase in revenue to $68.9 billion for Q4 2023. GAAP diluted EPS was $1.72, while adjusted diluted EPS increased by 10.0% to $2.86. The company's U.S. Healthcare Solutions and International Healthcare Solutions segments both contributed to the revenue growth.
Revenue increased by 12.7% to $68.9 billion compared to the same quarter in the previous fiscal year.
GAAP diluted EPS was $1.72, up 22.9% compared to the previous fiscal year fourth quarter.
Adjusted diluted EPS increased by 10.0% to $2.86.
U.S. Healthcare Solutions revenue increased by 13.0%, and International Healthcare Solutions revenue increased by 9.5%.
Cencora
Cencora
Forward Guidance
Cencora introduced its fiscal year 2024 financial guidance, expecting revenue growth in the range of 7 to 10 percent and adjusted diluted earnings per share to be in the range of $12.70 to $13.00.
Positive Outlook
- Revenue growth to be in the range of 7 to 10 percent.
- U.S. Healthcare Solutions revenue growth to be in the range of 7 to 10 percent.
- International Healthcare Solutions revenue growth to be in the range of 4 to 8 percent.
- Adjusted diluted earnings per share to be in the range of $12.70 to $13.00.
- Adjusted operating income growth to be in the range of 4 to 6 percent.
Challenges Ahead
- The Company does not expect a material contribution from exclusive COVID products beyond the fiscal 2024 first quarter.
- International Healthcare Solutions segment operating income growth to be in the range of 1 to 4 percent.
- Interest expense to be in the range of $210 million to $230 million.
- Adjusted effective tax rate to be approximately 20 percent to 21 percent.
- Capital expenditures in the $500 million range.