Cencora stock gains earnings momentum as fiscal 2027 outlook starts

Cencora reported its fiscal fourth-quarter and full-year results on Wednesday, November 4, 2026, setting out a more detailed growth framework for fiscal 2027. In a company release, Cencora said fourth-quarter revenue increased 5.5 percent year over year to 88.4 billion US dollars. Adjusted diluted earnings per share rose 21.4 percent to 4.66 US dollars.

Cencora stock traded at 317.70 euros on Lang & Schwarz at 12:37 CET on Thursday, November 5, 2026. Investors can follow the real-time quote of Cencora stock.

Strong Finish Supports New Forecast

Fourth-quarter adjusted operating income increased 22.1 percent to 1.2 billion US dollars. Adjusted gross profit rose 23.0 percent to 3.6 billion US dollars, while the adjusted operating margin expanded to 1.41 percent from 1.22 percent a year earlier. The company attributed the margin improvement in part to the February acquisition of OneOncology, although increased sales of GLP-1 medicines, which carry lower gross margins, partly offset the benefit.

GAAP diluted EPS was 2.71 US dollars, compared with a loss of 1.75 US dollars in the prior-year quarter. The comparison was affected by last year's 723.9 million US dollar PharmaLex goodwill impairment charge. Cencora also cited acquisition-related costs, litigation items, tax effects and the OneOncology accounting impact in its reconciliation from GAAP to adjusted results.

For the full fiscal year ended September 30, 2026, revenue rose 5.0 percent to 337.4 billion US dollars. Adjusted diluted EPS increased 12.3 percent to 17.97 US dollars, while adjusted operating income rose 14.0 percent to 4.8 billion US dollars. The company said fiscal 2026 included the OneOncology acquisition and a broader reshaping of its portfolio.

Fiscal 2027 Priorities Take Shape

Cencora expects fiscal 2027 adjusted diluted EPS of 19.40 to 19.75 US dollars, representing growth of 8 percent to 10 percent. Revenue is expected to grow 3 percent to 5 percent and adjusted operating income 4 percent to 6 percent. The outlook assumes the MWI Animal Health merger with Covetrus closes on March 31, 2027, while pending EyeSouth Retina and American Oncology Network acquisitions are excluded until completion.

The revised structure will report Pharmaceutical Distribution and Services, Specialty Pharmaceutical and Provider Services, and Other. Management expects revenue growth of 4 percent to 6 percent in distribution and 9 percent to 14 percent in specialty services. Segment operating income is projected to grow 2 percent to 4 percent and 18 percent to 21 percent, respectively.

The company forecasts adjusted free cash flow of 3.5 billion US dollars and capital expenditures of 1.0 billion US dollars in fiscal 2027. It reaffirmed long-term targets for adjusted operating income growth of 7 percent to 10 percent and adjusted EPS growth of 10 percent to 14 percent.

Dividend Increase Adds Shareholder Return

On November 3, Cencora declared a quarterly dividend of 0.66 US dollars per common share, up 10 percent from 0.60 US dollars. The payment is scheduled for November 30 to shareholders of record at the close of business on November 13.

The company will next present at the J.P. Morgan Healthcare Conference from January 11 to January 14, 2027. The broader U.S. market context is available through the S&P 500 market overview.

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