Cencora, Inc. (NYSE:COR) reported first-quarter fiscal 2026 results on Wednesday that showed stronger-than-expected earnings, while revenue narrowly missed Wall Street projections. The pharmaceutical services group also lifted its full-year adjusted operating income outlook.
Shares slipped 0.21% in pre-market trading following the announcement, as investors weighed the mixed performance.
Adjusted earnings per share for the quarter ended December 31, 2025, reached $4.08, ahead of the $4.04 analyst consensus and up 9.4% from $3.73 a year earlier. Revenue increased 5.5% year over year to $85.9 billion, just below the $86.02 billion expected by the market.
“Cencora began fiscal 2026 by delivering strong financial performance and advancing our strategy through the acquisition of OneOncology,” said Robert P. Mauch, President and Chief Executive Officer of Cencora.
The U.S. Healthcare Solutions division, which represents the majority of group revenue, recorded a 5% increase in sales to $76.2 billion, supported by overall market expansion and higher specialty product volumes sold to health systems and physician practices. The International Healthcare Solutions business posted faster growth, with revenue rising 9.6% to $7.6 billion.
Reflecting the contribution from the OneOncology acquisition and solid momentum in its U.S. operations, Cencora raised its fiscal 2026 adjusted operating income growth forecast to a range of 11.5% to 13.5%, up from the previous 8% to 10%. The company maintained its full-year adjusted EPS guidance of $17.45 to $17.75, broadly in line with analyst expectations of $17.59.
Gross profit climbed 20.1% year on year to $3.1 billion, with the gross margin improving to 3.58% from 3.14% in the prior-year quarter.
“As we continue to advance our leadership in specialty and execute our pharmaceutical-centric strategy, we are well positioned to drive continued value for all our stakeholders and deliver on our purpose,” Mauch added.
Cencora’s board also declared a quarterly cash dividend of $0.60 per share, payable on March 2, 2026, to shareholders of record as of February 13, 2026.
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