Cencora Inc: Explicit confidence in the full year and LT guidance: BofA Conference Takeaways

研报英文原文证据摘录

Cencora Inc: Explicit confidence in the full year and LT guidance: BofA Conference Takeaways

Accessible version

Cencora Inc

Explicit confidence in the full year and LT

guidance: BofA Conference Takeaways

Reiterate Rating: NEUTRAL | PO: 280.00 USD | Price: 260.93 USD

Full year and long-term outlook remain intact 13 May 2026

We hosted a fireside chat with Cencora’s CEO Bob Mauch, Executive Vice President/CFO Equity

Jim Cleary, and Head of IR and Enterprise Productivity Bennett Murphy to discuss the

Allen Lutz, CFA

growth trajectory of the U.S. Pharma business, impact of brand to biosimilar Research Analyst

conversions, and specialty strategy. Overall, management emphasized confidence in the BofAS +1 646 855 4380

full-year and long-term outlook given the company’s pharma-centric strategy and allen.lutz@bofa.com

execution on growth priorities. Management noted the dynamics around the rapid brand- Hanna Lee

to-biosimilar conversion primarily impacts revenue, with minimal operating income Research Analyst BofAS

impact due to the low-margin profile of the large mail-order customer. For 2H, COR +1 646 855 3682

expects growth rates to accelerate due to lapping the loss of an oncology customer, hanna.y.lee@bofa.com

increasing OneOncology contributions, and OpEx initiatives. The company also sees the DevResearchWeerasuriyaAnalyst

Part B biosimilar opportunity as a tailwind given the additional wraparound services that BofAS

+1 646 855 5707

COR can provide. Additionally, management views biosimilar co-manufacturing as an dev.weerasuriya@bofa.com

opportunity that could be contemplated in the future.

International to see continued benefits through 2H

Stock DataWithin the International segment, COR expects continued benefits from the timing of a