Tue, Nov 26, 7:48 PM (223 days ago)
Cencora, Inc. (NYSE: COR) reported strong financial performance for the fiscal year ending September 30, 2024, with total revenue of $293,959,000, an increase of 12.1% year-over-year. The U.S. Healthcare Solutions segment drove this growth, achieving a revenue increase of 13.0% to $265,339,000, bolstered by significant sales in specialty pharmaceuticals and COVID-19 products. However, net income decreased to $1,509,120,000 from $1,745,293,000, primarily due to a $418 million goodwill impairment related to PharmaLex and increased operating expenses, which rose 16.9% to $7,735,000,000. Earnings per share (EPS) for the year was $7.60, down from $8.62 in the previous year. The company maintained a robust market position, with significant contributions from its partnership with Walgreens Boots Alliance (WBA), which constituted 26% of total revenue. Cencora also announced an agreement to acquire Retina Consultants of America for approximately $4.6 billion, expected to enhance its market presence. Key risks include regulatory pressures, competition, and potential adverse outcomes from ongoing opioid-related litigation, with a total litigation liability of $4.9 billion recorded. The company remains focused on optimizing operations and expanding its service offerings to sustain growth.