CONSHOHOCKEN, PA — Cencora (NYSE: COR) raised its fiscal 2026 earnings outlook and authorized an additional $2 billion share repurchase program, signaling confidence in cash generation as the pharmaceutical distribution giant continues returning capital to shareholders.
The company increased its adjusted diluted earnings-per-share guidance to a range of $17.70 to $17.90, up from its prior forecast of $17.65 to $17.90, citing the impact of share repurchases completed in May.
The revised outlook follows what Cencora described as opportunistic stock buybacks that align with its previously disclosed plan to repurchase $1 billion of common stock by the end of calendar year 2026.
In a separate capital allocation move, Cencora’s board authorized a new share repurchase program permitting the company to buy back up to an additional $2 billion of its outstanding shares, subject to market conditions.
The authorization substantially expands the company’s flexibility to continue repurchasing stock beyond its existing program. As of May 21, Cencora had approximately $382 million remaining under a buyback authorization approved in May 2024.
The earnings guidance increase is modest, but it reflects the financial impact of a reduced share count rather than a change in the company’s underlying operating outlook.
Cencora indicated the updated forecast will be discussed during upcoming meetings with investors.
The company ranks among the largest healthcare and pharmaceutical distribution businesses in the world, generating more than $300 billion in annual revenue and serving pharmaceutical manufacturers, healthcare providers, and other participants across the healthcare supply chain.
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