NYSE$COR

Cencora Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Revenue increased by 5.4% and adjusted EPS increased by 10.0%.

AmerisourceBergen reported a strong first quarter in fiscal year 2020, with revenue reaching $47.9 billion, a 5.4% increase year-over-year. Adjusted diluted EPS grew by 10.0% to $1.76. The company has raised its adjusted diluted EPS guidance range for fiscal year 2020 to $7.55 to $7.80. The Board of Directors also increased the quarterly dividend rate by 5% to $0.42 per share.

  • Revenue increased by 5.4% to $47.9 billion.
  • GAAP diluted EPS was $0.90, compared to $1.84 in the prior year quarter.
  • Adjusted diluted EPS increased by 10.0% to $1.76.
  • Adjusted diluted EPS guidance range raised to $7.55 to $7.80 for fiscal 2020.

Headline financials

Total Revenue

$47.9B

Previous: $45.4B+5.4%
EPS (adj)

$1.76

Previous: $1.60+10.0%
Effective Tax Rate

18.7%

No prior period
Adj. Effective Tax Rate

21.0%

No prior period
Capital Expenditures

-$67.3M

Previous: -$79.2M+15.1%
Free Cash Flow

$120M

Previous: $314M-61.7%
Net Income

$188M

Previous: $394M-52.3%
Operating Income

$263M

Previous: $478M-44.9%
Gross Profit

$1.23B

Previous: $1.3B-5.1%
Cash & Equivalents

$3.23B

Previous: $2.54B+27.3%
Total Assets

$40B

Previous: $39.3B+1.9%
Stock-Based Comp

$31.4M

Previous: $31.8M-1.2%

Revenue & EPS history

Cencora · Revenue · Quarterly

$47.9B

Q1 2020+5.4%vs Q1 2019
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Forward guidance

AmerisourceBergen has updated its fiscal year 2020 financial guidance to reflect the Company’s strong performance, opportunistic share repurchases and the exit of our PharMEDium business. The Company now expects adjusted Diluted EPS to be in the range of $7.55 to $7.80, adjusted operating income growth in the mid-single digit percent range and Weighted average diluted shares are now expected to be approximately 208 million.

Tailwinds

  • Adjusted Diluted EPS to be in the range of $7.55 to $7.80, up from the previous range of $7.30 to $7.60.
  • Adjusted operating income growth in the mid-single digit percent range, up from the low-to mid-single percent range
  • Pharmaceutical Distribution Services segment operating income growth in the mid-single digit percent range, up from the low- to mid-single digit percent range
  • Weighted average diluted shares are now expected to be approximately 208 million, down from the previous expectation of between 209 million to 210 million for the fiscal year.
  • All other previously communicated aspects of the Company's fiscal year 2020 financial guidance and assumptions remain the same.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-0.1%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+1.4%

Avg return

30 days after

48%

35 / 73 earnings

Positive

+7.8%

Q2 2019

Best reaction

-18.4%

Q2 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-18.4%-16.6%-10.1%
Q1 2026-5.9%+0.4%-0.9%
Q4 2025+2.9%+5.8%-1.4%
Q3 2025-2.9%-0.6%+0.1%
Q2 2025+4.6%-4.3%-0.6%
Q1 2025+0.7%-2.1%+1.2%
Q4 2024+5.9%+6.5%+4.0%
Q3 2024+5.8%+4.4%+3.7%
Q2 2024-6.0%-6.3%-5.2%
Q1 2024+7.4%+6.2%+7.5%
Q4 2023+4.2%+4.7%+9.0%
Q3 2023+1.2%-1.3%-7.5%
Q2 2023+0.1%+0.7%+3.5%
Q1 2023-6.2%-8.6%-7.6%
Q4 2022+4.4%+3.1%+12.4%
Q3 2022-2.5%-1.5%+3.4%
Q2 2022+2.9%+4.4%-2.5%
Q1 2022+0.2%+1.3%+7.0%
Q4 2021-0.6%-2.8%-9.0%
Q3 2021-1.5%-2.8%+1.2%
Q2 2021-6.5%-2.1%-7.1%
Q1 2021+3.9%+1.8%-0.7%
Q4 2020-1.0%+4.8%-1.9%
Q3 2020-3.0%-1.6%-7.7%
Q2 2020+3.0%+3.6%+15.8%
Q1 2020-4.8%-2.0%-6.2%
Q4 2019+1.6%+1.0%+4.2%
Q3 2019+3.8%-3.5%-5.6%
Q2 2019+7.8%+5.5%+6.1%
Q1 2019+6.7%+9.2%+5.7%
Q4 2018-2.3%+0.3%-2.9%
Q3 2018+1.9%+5.0%+13.2%
Q2 2018-4.3%-5.1%-6.6%
Q1 2018+2.5%-2.9%+4.7%
Q4 2017-2.4%-2.2%+10.9%
Q3 2017-11.4%-12.0%-12.1%
Q2 2017+3.9%+5.9%+13.2%
Q1 2017+6.0%+6.8%+9.9%
Q4 2016+3.6%+3.1%+12.9%
Q3 2016+5.1%+4.5%+1.9%
Q2 2016-9.2%
Q1 2016-3.7%
Q4 2015-1.0%
Q3 2015-5.4%
Q2 2015+1.9%
Q1 2015+0.4%
Q4 2014+7.1%
Q3 2014+3.7%
Q2 2014-3.1%
Q1 2014-4.3%
Q4 2013+1.8%
Q3 2013-0.0%
Q2 2013-4.6%
Q1 2013-5.1%
Q4 2012-0.6%
Q3 2012+2.7%
Q2 2012-1.2%
Q1 2012+2.4%
Q4 2011-1.0%
Q3 2011-0.5%
Q2 2011+2.9%
Q1 2011+0.5%
Q4 2010-0.5%
Q3 2010-0.7%
Q2 2010+1.0%
Q1 2009-1.7%
Q1 2010+1.2%
Q4 2009-0.6%
Q2 2009-0.6%
Q4 2007-0.6%
Q3 2008-0.5%
Q3 2009-0.5%
Q4 2008-0.5%

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