Cencora reported fiscal 2026 first quarter revenue of $85.93 billion, representing a 5.5% year-over-year increase driven by a 5.0% rise in U.S. Healthcare Solutions and a 9.6% gain in International Healthcare Solutions. On a non-GAAP basis, adjusted diluted earnings per share were $4.08, surpassing consensus estimates of $4.03 and up 9.4% from $3.73 in the prior year. GAAP diluted EPS rose 14.8% to $2.87 from $2.50 a year earlier. Net income attributable to Cencora on an adjusted basis was $797 million versus $560 million on a GAAP basis, with diluted shares outstanding at 195.3 million.

Gross profit reached $3.1 billion, a 20.1% increase over the prior year quarter, and gross margin expanded by 44 basis points to 3.58%. This improvement was largely attributable to increased margins in the U.S. Healthcare Solutions segment, bolstered by synergies from the January 2025 acquisition of Retina Consultants of America, and a favorable LIFO credit. Operating income rose 7.7% to $760.4 million, with operating margin edging up to 0.88%. On an adjusted basis, operating income was $1.06 billion, up 11.9%, as growth in gross profit outpaced a 21.7% rise in adjusted operating expenses.

Cencora raised its fiscal 2026 sales growth guidance from a prior range of 5%–7% to 7%–9%, and lifted full-year revenue projection to $343.79 billion–$350.22 billion, above the previous guidance of $337.37 billion–$343.79 billion and exceeding consensus forecasts. Adjusted earnings guidance was reaffirmed at $17.45–$17.60 per share. Management cited strong underlying demand for specialty medicines, expanding GLP-1 therapy sales and completed transactions including the OneOncology acquisition as key catalysts for sustained growth and shareholder value creation.