COR · 8-K · 20260805PR000032

Operating Expense Trends

Cencora, Inc. · 2026-08-05 · Importance 55 · Surprise 66

GAAP operating expenses increased 21.9% year over year to $2.5 billion, or 2.93% of revenue, in the third quarter. Distribution, selling, and administrative expense increased 27.5% to $2.13 billion, while acquisition and divestiture-related deal and integration expenses increased to $113.1 million from $52.8 million. The increases were primarily related to the February 2026 OneOncology acquisition and were partly offset by a $102.0 million reduction in opioid liability following dismissal of opioid litigation. Adjusted operating expenses increased 26.8% to $2.3 billion, or 2.70% of revenue.

Key facts

• Third quarter fiscal 2026 operating expenses (GAAP): $2.5 billion, a 21.9 percent increase year-over-year source
• Operating expense growth in third quarter fiscal 2026 was primarily driven by higher expenses as a result of the February 2026 acquisition of OneOncology source