CONSHOHOCKEN, PA — Cencora, Inc. (NYSE: COR) announced robust fiscal second-quarter results for 2025, reporting a 10.3% year-over-year increase in revenue, reaching $75.5 billion. The company also posted notable earnings growth, with GAAP diluted earnings per share (EPS) climbing to $3.68, marking a 76.1% increase from $2.09 in the prior-year quarter. Adjusted diluted EPS rose to $4.42, up 16.3% from $3.80 a year earlier.
The results were driven by solid performance in the U.S. Healthcare Solutions segment, which grew revenue by 11.4% to $68.3 billion. Cencora attributed this to strong demand in specialty products and the successful integration of Retina Consultants of America (RCA), acquired in January 2025. The International Healthcare Solutions segment posted modest growth of 0.7%, with revenue reaching $7.2 billion.
“Cencora’s second quarter results reflect the strength of our value proposition as a healthcare services provider and the important role we play in the supply chain, driven by our pharmaceutical distribution footprint and complementary end-to-end services and solutions,” said Robert P. Mauch, President and CEO. “We continue to advance our core business and enhance our capabilities, with a focus on elevating our solutions in the markets we serve.”
Cencora reported a gross profit of $3.1 billion for the quarter, up 20.6% year-over-year, though operating expenses also rose by 2.0% due to distribution and administrative costs tied to the RCA acquisition. Operating income surged by 87.3%, reaching $1 billion, buoyed by improvements in the U.S. Healthcare Solutions segment.
The company also highlighted significant interest expense growth of 62.2%, driven by debt incurred to fund the RCA acquisition. However, strong operating results offset increased financial costs, maintaining Cencora’s robust financial position.
Updated Fiscal Year Guidance
Cencora raised its fiscal 2025 adjusted diluted EPS guidance, now expecting a range of $15.70 to $15.95, up from the previous range of $15.30 to $15.60. The company projects continued strength in the U.S. Healthcare Solutions segment, now forecasting operating income growth between 17.5% and 19.5%, compared to earlier estimates of 14.5% to 16.5%.
While expectations for the International Healthcare Solutions segment were adjusted downward, with revenue growth now forecasted between 3% and 4% (down from 4% to 5%), overall consolidated operating income is projected to grow between 13.5% and 15.5%.
Strategic Highlights
Cencora continued to advance its corporate strategies, including the integration of its 2024 acquisition of RCA. This deal expanded the company’s specialty footprint, particularly in ophthalmology, and contributed to efficiency gains within its U.S. operations.
Additionally, the company remains focused on operational excellence and sustainability, as outlined in its 2024 Corporate Responsibility Report. “Cencora strives to enhance its leadership position in healthcare through our pharmaceutical-centric strategy, best-in-class team members, and customer-focused approach,” Mauch said.
Dividend Declaration
The Board of Directors declared a quarterly cash dividend of $0.55 per common share, payable on June 2, 2025, to stockholders of record as of May 16, 2025.
Cencora’s strong quarterly performance, coupled with its updated guidance, underscores its resilience in an evolving healthcare landscape and its commitment to driving shareholder value.
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