CONSHOHOCKEN, PA — Cencora, Inc. (NYSE: COR) reported a mixed finish to fiscal 2025, delivering strong full-year performance despite a significant fourth-quarter GAAP loss driven by impairment and integration charges. The global pharmaceutical solutions company reported fourth-quarter revenue of $83.7 billion, up 5.9 percent from the prior year, while full-year revenue climbed 9.3 percent to $321.3 billion.
Fourth-quarter GAAP diluted earnings per share came in at a loss of $1.75, compared to $0.02 in the same period last year, reflecting higher operating expenses and a $723.9 million goodwill impairment tied to the company’s PharmaLex business. Adjusted diluted EPS, which excludes unusual and non-cash items, rose 15 percent to $3.84. For the full fiscal year, GAAP diluted EPS increased 5.7 percent to $7.96, while adjusted EPS reached $16.00, up 16.3 percent from 2024.
President and CEO Bob Mauch said Cencora’s results demonstrate momentum across its core operations, bolstered by its January acquisition of Retina Consultants of America. He pointed to the company’s continued push toward growth investments, digital transformation, and productivity enhancements as key drivers heading into fiscal 2026.
The company’s U.S. Healthcare Solutions segment generated $75.8 billion in fourth-quarter revenue, up 5.7 percent year-over-year, while operating income jumped 25.1 percent. International Healthcare Solutions revenue rose 7.6 percent to $7.9 billion, though segment operating income edged down by 2 percent amid softer performance in consulting services.
Cencora highlighted several major developments accompanying its earnings release, including $1 billion in planned U.S. distribution network investments through 2030 and a 9 percent increase to its quarterly dividend, now set at $0.60 per share. The company also announced a restructuring of its reporting segments, effective fiscal 2026, to better align with strategic priorities.
Looking ahead, Cencora issued an outlook calling for adjusted diluted EPS of $17.45 to $17.75 in fiscal 2026, supported by expected revenue growth across its domestic and international operations. The company also raised its long-term guidance for adjusted operating income and earnings, citing confidence in its competitive position and growth strategy.
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