Healthcare distributor Cencora (NYSE: COR) will be reporting results this Wednesday before market open. Here’s what to look for.
Cencora beat analysts’ revenue expectations by 0.5% last quarter, reporting revenues of $83.73 billion, up 5.9% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ full-year EPS guidance estimates.
Is Cencora a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Cencora’s revenue to grow 6.1% year on year to $86.45 billion, slowing from the 12.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.03 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cencora has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Cencora’s peers in the healthcare providers & services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. UnitedHealth delivered year-on-year revenue growth of 12.3%, meeting analysts’ expectations, and Elevance Health reported revenues up 9.6%, falling short of estimates by 1.2%. UnitedHealth traded down 16.4% following the results while Elevance Health was up 7.5%.
Read our full analysis of UnitedHealth’s results here and Elevance Health’s results here.
Investors in the healthcare providers & services segment have had steady hands going into earnings, with share prices flat over the last month. Cencora is up 6.6% during the same time and is heading into earnings with an average analyst price target of $399.07 (compared to the current share price of $363.54).
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