Healthcare distributor Cencora (NYSE: COR) will be reporting earnings tomorrow before the bell. Here’s what to expect.
Cencora beat analysts’ revenue expectations by 5.2% last quarter, reporting revenues of $81.49 billion, up 12.8% year on year. It was a very strong quarter for the company, with a narrow beat of analysts’ full-year EPS guidance estimates and a decent beat of analysts’ EPS estimates.
Is Cencora a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Cencora’s revenue to grow 10.7% year on year to $75.7 billion, improving from the 7.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.10 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 only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3% on average.
Looking at Cencora’s peers in the health insurance providers segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Alignment Healthcare delivered year-on-year revenue growth of 47.5%, beating analysts’ expectations by 4.4%, and CVS Health reported revenues up 7%, topping estimates by 1.5%. Alignment Healthcare traded down 7% following the results while CVS Health was up 1.2%.
Read our full analysis of Alignment Healthcare’s results here and CVS Health’s results here.
There has been positive sentiment among investors in the health insurance providers segment, with share prices up 4.4% on average over the last month. Cencora is up 6.3% during the same time and is heading into earnings with an average analyst price target of $297.49 (compared to the current share price of $291.97).
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