COR · 10-Q · 2026Q2

Cencora, Inc.

Filed 2026-08-05 · Consumer · View original filing on EDGAR

Ranked Events

• Outstanding IndebtednessImportance 89 · Surprise 82
  Total debt was $11.7 billion as of June 30, 2026, consisting of $10.1 billion of fixed-rate debt and $1.6 billion of variable-rate debt. Cencora issued $3.0 billion of senior notes and borrowed $1.5 billion of…
• Interest Rate ExposureImportance 65 · Surprise 82
  Net interest expense increased 65.4% year over year to $353.6 million in the nine months ended June 30, 2026, primarily because of debt issued to finance the OneOncology acquisition and the May 2025 issuance of €1.0…
• Acquisitions and DivestituresImportance 65 · Surprise 60
  Cencora completed its acquisition of OneOncology in February 2026, using $4.6 billion of cash in investing activities and financing part of the transaction with $3.0 billion of senior notes and $1.5 billion of…
• Gross Margin DriversImportance 61 · Surprise 66
  Gross profit increased 24.1% year over year to $3.6 billion in the June 2026 quarter and 20.4% to $10.3 billion for the nine-month period. U.S. Healthcare Solutions gross profit rose 31.2% to $2.4 billion in the…
• Opioid Litigation LiabilityImportance 58 · Surprise 42
  As of June 30, 2026, Cencora had $4.2 billion of accrued liabilities for the Distributor Settlement Agreement and other opioid-related litigation settlements. The liability is expected to be paid over the next 13…
• Operating Cash Flow TrendsImportance 51 · Surprise 64
  Operating cash flow increased by $1.0 billion to $1.7 billion in the nine months ended June 30, 2026 from $0.7 billion in the comparable 2025 period. The 2026 cash flow included $3.0 billion of net income and a $0.6…
• GLP-1 Product DemandImportance 47 · Surprise 48
  Sales of products labeled for diabetes and/or weight loss in the GLP-1 class increased $2.3 billion, or 25.5%, in the quarter and $5.2 billion, or 19.7%, year to date. GLP-1 demand was a major contributor to U.S.…
• Capital ExpendituresImportance 47 · Surprise 48
  Capital expenditures increased to $511.0 million in the nine months ended June 30, 2026 from $418.2 million in the prior-year period. The spending supported continued expansion and enhancement of the distribution…
• Operating Expense TrendsImportance 47 · Surprise 48
  Total operating expenses increased 21.9% year over year to $2.5 billion in the June 2026 quarter and 22.5% to $7.2 billion for the nine-month period. Distribution, selling, and administrative expense increased 27.5% to…
• Digital Transformation InvestmentImportance 46 · Surprise 42
  Cencora has committed $652 million to support the primary enterprise resource planning system upgrade for its U.S. Healthcare Solutions segment. The company also has $558 million of commitments for other digital…
• Capital Return ProgramImportance 46 · Surprise 42
  Cencora repurchased $1.0 billion of common stock in the nine months ended June 30, 2026. The company used $882.2 million to complete its prior $2.0 billion authorization and repurchased another $117.8 million under a…
• Geographic Market CommentaryImportance 43 · Surprise 32
  International Healthcare Solutions revenue increased 5.9% in the quarter and 9.4% year to date, led by the European distribution business. Other Healthcare Solutions revenue increased 10.8% year to date, while the…
• Revenue Performance and MixImportance 43 · Surprise 32
  Revenue increased 5.1% year over year to $84.8 billion in the June 2026 quarter and 4.8% to $249.0 billion for the nine-month period. U.S. Healthcare Solutions revenue rose 4.9% to $74.9 billion in the quarter and 4.3%…
• Liquidity and Debt PositionImportance 38 · Surprise 24
  Cencora had $1.6 billion of variable-rate debt outstanding as of June 30, 2026, exposing interest expense to fluctuations in short-term rates. The company held $2.8 billion in cash and cash equivalents on the same…
• FX / Currency HeadwindsImportance 37 · Surprise 6
  Cencora has foreign-exchange exposure primarily to the U.K. pound sterling, euro, Turkish lira, Brazilian real, and Canadian dollar through its non-U.S. operations. Foreign operations represented approximately 10% of…
• Market Demand TrendsImportance 37 · Surprise 32
  U.S. Healthcare Solutions revenue increased 4.9% in the quarter and 4.3% year to date, primarily because of overall market growth and higher unit volumes. Demand was strongest for specialty products sold to health…
• Headcount / RestructuringImportance 34 · Surprise 42
  Restructuring and other expenses totaled $60.6 million in the June 2026 quarter and $115.7 million for the nine-month period. Restructuring and employee severance costs were $38.9 million in the quarter and $70.4…
• Supply Chain and InventoryImportance 31 · Surprise 32
  Inventory increased by $1.0 billion during the nine months to support higher business volume, while accounts payable increased by $0.6 billion because of the larger inventory balance and supplier-payment timing. Days…
• Distribution Network ExpansionImportance 26 · Surprise 24
  Cencora continued expanding and enhancing its distribution network during the nine months ended June 30, 2026. Distribution-network investments were among the company’s significant capital expenditures, alongside…
• Türkiye Inflationary ImpactImportance 25 · Surprise 32
  Cencora accounts for Türkiye as a highly inflationary economy, and the continued weakening of the Turkish lira generated cost of goods sold expense of $38.4 million in the nine months ended June 30, 2026, up 5.6% from…

Revenue by Product (in thousands)

Revenue by Geography (in thousands)