Cencora raises 2026 earnings outlook on quarterly profit growth

Cencora Inc. has raised its fiscal 2026 earnings outlook following a third-quarter revenue increase of 5.1% to $84.8 billion. The pharmaceutical distributor now expects adjusted diluted earnings per share to be between $17.75 and $17.95, up from the previous guidance of $17.70 to $17.90.

Growth was driven by pharmaceutical distribution, specialty products, and the acquisition of OneOncology. The OneOncology deal contributed to a 61-basis-point expansion in adjusted gross margin, which helped offset margin pressures caused by the rapid sales growth of lower-margin GLP-1 drugs used for diabetes and weight loss.

Net income attributable to Cencora rose 11.1% to $763.5 million. The company also accelerated its capital returns by repurchasing $1 billion in stock, reaching its previous end-of-2026 target ahead of schedule. Additionally, Cencora recorded a $102 million reduction in opioid liability due to the dismissal of litigation during the quarter.