NYSE$COR

Cencora Inc · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

AmerisourceBergen reported strong revenue and adjusted diluted EPS growth.

AmerisourceBergen reported a 9.5% increase in revenue to $47.4 billion for the second quarter of fiscal year 2020. GAAP diluted EPS was $4.64, while adjusted diluted EPS increased by 13.7% to $2.40. The company has revised its adjusted diluted EPS guidance for fiscal year 2020 to $7.35 to $7.65.

  • Revenue increased by 9.5% year-over-year to $47.4 billion.
  • GAAP diluted EPS was $4.64, compared to $0.13 in the prior year quarter.
  • Adjusted diluted EPS increased by 13.7% to $2.40.
  • Adjusted diluted EPS guidance for fiscal year 2020 revised to a range of $7.35 to $7.65.

Headline financials

Total Revenue

$47.4B

Previous: $43.3B+9.5%
EPS (adj)

$2.40

Previous: $2.11+13.7%
Effective Tax Rate

-251.6%

No prior period
Adj. Effective Tax Rate

21.5%

No prior period
Capital Expenditures

-$144M

Previous: -$161M+10.6%
Free Cash Flow

$816M

Previous: -$134M+707.3%
Net Income

$960M

Previous: $27.1M+3438.9%
Operating Income

$310M

Previous: $47.6M+550.7%
Gross Profit

$1.39B

Previous: $1.42B-2.6%
Cash & Equivalents

$3.69B

Previous: $2.88B+28.4%
Total Assets

$42B

Previous: $38.8B+8.3%
Stock-Based Comp

$14.4M

Previous: $6.1M+135.8%

Revenue & EPS history

Cencora · Revenue · Quarterly

$47.4B

Q2 2020+9.5%vs Q2 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Forward guidance

AmerisourceBergen has updated its fiscal year 2020 financial guidance to reflect the Company’s continued strong performance and opportunistic share repurchases in the second quarter and incorporate potential impacts of COVID-19 in the second half of the fiscal year.

Tailwinds

  • Revenue growth in the low- to mid-single digit percent range
  • Adjusted Diluted EPS to be in the range of $7.35 to $7.65
  • Adjusted operating expenses to increase in the low-single digit percent range
  • Adjusted operating income growth in the low- to mid-single digit percent range
  • Weighted average diluted shares are now expected to be between 206 million to 207 million

Headwinds

  • Revenue growth down from the mid- to high- single digit percent range
  • Adjusted Diluted EPS down from the previous range of $7.55 to $7.80
  • Adjusted operating expenses down from the mid-single digit percent range
  • Adjusted operating income growth widened from the mid-single digit percent range
  • Other operating income decline in the low-single digit percent range, revised from growth in the high-single digit percent range

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 Q2 2020

Historical avgQ2 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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