Healthcare distributor Cencora (NYSE: COR) will be reporting earnings this Wednesday before the bell. Here’s what you need to know.
Cencora beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $80.66 billion, up 8.7% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ revenue 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 5.3% year on year to $83.28 billion, slowing from the 14.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.79 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 health insurance providers segment, some have already reported their Q3 results, giving us a hint as to what we can expect. CVS Health delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 4.1%, and Centene reported revenues up 18.2%, topping estimates by 3.7%. CVS Health traded down 6.7% following the results while Centene was up 5.5%.
Read our full analysis of CVS Health’s results here and Centene’s results here.
Investors in the health insurance providers segment have had steady hands going into earnings, with share prices flat over the last month. Cencora is up 13% during the same time and is heading into earnings with an average analyst price target of $338.29 (compared to the current share price of $345).
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