Cencora climbs after raising annual profit forecast
COR•Cencora raises annual profit forecast after quarterly beat
- Shares of drug distributor Cencora COR.N rise 3.2% to $316.04 premarket
- The company expects annual adjusted profit of $17.75 to $17.95 per share compared with its previous expectation of $17.65 to $17.90
- Cencora reports third-quarter adjusted profit of $4.48 per share versus analysts' average estimate of $4.35 per share, according to LSEG data
- Third-quarter revenue of $84.75 billion beats expectation of $84.32 billion, driven by strong demand for its specialty medicines
- Up to the last close, the stock was down 9.3% year to date
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