NYSE$COR

Cencora Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported a revenue increase of 3.7 percent year-over-year, with GAAP diluted EPS of $2.10 and adjusted diluted EPS of $2.53.

AmerisourceBergen reported a solid performance in the March quarter, with revenue increasing by 3.7% year-over-year to $49.2 billion. The company's adjusted diluted EPS increased by 5.4% to $2.53, and the adjusted diluted EPS guidance for fiscal year 2021 has been raised to a range of $8.45 to $8.60.

  • Revenue increased 3.7 percent year-over-year to $49.2 billion.
  • GAAP diluted EPS was $2.10, compared to $4.64 in the prior year quarter.
  • Adjusted diluted EPS increased 5.4 percent to $2.53.
  • Adjusted diluted EPS guidance raised to $8.45 to $8.60 for fiscal 2021.

Headline financials

Total Revenue

$49.2B

Previous: $47.4B+3.7%
EPS (adj)

$2.53

Previous: $2.40+5.4%
Effective Tax Rate

23.4%

Previous: -251.6%+109.3%
Adj. Effective Tax Rate

21.9%

Previous: 21.5%+1.9%
Capital Expenditures

-$152M

Previous: -$144M-5.0%
Free Cash Flow

$284M

Previous: $816M-65.2%
Net Income

$435M

Previous: $960M-54.7%
Operating Income

$624M

Previous: $310M+101.7%
Gross Profit

$1.53B

Previous: $1.39B+10.5%
Cash & Equivalents

$6.64B

Previous: $3.69B+79.9%
Total Assets

$47B

Previous: $42B+11.8%
Stock-Based Comp

$18.8M

Previous: $14.4M+30.6%

Revenue & EPS history

Cencora · Revenue · Quarterly

$49.2B

Q2 2021+3.7%vs Q2 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

AmerisourceBergen has updated its fiscal year 2021 financial guidance to reflect the Company’s continued strong performance, including better than expected performance in our Global Commercialization Services & Animal Health group, and an incrementally higher expected share count for the year.

Tailwinds

  • Adjusted Diluted EPS to be in the range of $8.45 to $8.60, raised from the previous range of $8.40 to $8.60.
  • Adjusted operating expense growth in the high-single digit percent range, narrowed from the mid- to high-single digit percent range.
  • Other, which is comprised of our Global Commercialization Services & Animal Health businesses, operating income growth in the low-double digit percent range, up from the mid- to high-single digit percent range.
  • Weighted average shares to be between 207 million and 208 million, raised from the previous expectation of approximately 207 million for the fiscal year.
  • All other previously communicated aspects of the Company's fiscal year 2021 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 Q2 2021

Historical avgQ2 2021

-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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