CONSHOHOCKEN, PA — Cencora reported higher second-quarter revenue and earnings for fiscal 2026 and raised its full-year adjusted earnings outlook, driven by growth in its U.S. and international healthcare distribution businesses and contributions from its acquisition of OneOncology.
The company said revenue for the quarter ended March 31 rose 3.8% year over year to $78.4 billion, while adjusted diluted earnings per share increased 7.5% to $4.75 from $4.42 a year earlier.
On a GAAP basis, diluted earnings per share climbed to $8.40 from $3.68 in the prior-year period, largely due to a $1.1 billion gain tied to the February 2026 acquisition of OneOncology. The gain reflected the remeasurement of Cencora’s prior equity investment and the extinguishment of a related put option liability.
NYSE: COR raised its fiscal 2026 adjusted diluted earnings per share guidance to a range of $17.65 to $17.90, up from its prior outlook of $17.45 to $17.75.
The company also said it expects to repurchase $1 billion in shares by the end of calendar year 2026.
President and Chief Executive Officer Robert P. Mauch said the updated guidance reflects continued operating strength and progress reducing debt following the OneOncology acquisition.
Second-quarter gross profit increased 17.3% to $3.6 billion, while operating income rose 10.3% to $1.1 billion. Operating expenses climbed 20.9% to $2.4 billion, primarily due to costs associated with the OneOncology acquisition, the company said.
Net interest expense increased to $140.5 million from $104 million a year earlier after Cencora issued senior notes and variable-rate term loans to finance the acquisition.
The company’s U.S. Healthcare Solutions segment generated $68.8 billion in quarterly revenue, up 2.9% from a year earlier. Growth was driven by increased sales of specialty pharmaceuticals, GLP-1 diabetes and weight-loss drugs, and higher unit volumes to health systems and physician practices.
That growth was partially offset by lower manufacturer pricing on certain branded drugs, lower sales to a large mail-order customer and the loss of oncology and grocery customers during fiscal 2025.
International Healthcare Solutions revenue rose 13% to $7.6 billion, led by growth in the company’s European distribution operations and global specialty logistics business.
Revenue in the company’s “Other” category, which includes MWI Animal Health, Profarma and consulting businesses, increased 5.1% to $2.1 billion.
During the quarter, Cencora announced an agreement to merge MWI Animal Health with Covetrus and separately signed a definitive agreement to acquire the retina business of EyeSouth Partners for its Retina Consultants of America platform.
The company’s board also declared a quarterly cash dividend of $0.60 per share payable June 1 to shareholders of record as of May 15.
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