Cencora, Inc. Q3 FY2024 results: revenue $74.2 billion, up 10.9% on the year

Cencora, Inc. (COR) reported revenue of $74.2 billion for Q3 FY2024, the quarter ended 30 June 2024, up 10.9% on the same quarter a year earlier. Net income was $483 million, up 0.8% on the year, and diluted earnings per share $2.42. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2024.

Revenue$74.2 billionup 10.9%

Net income$483 millionup 0.8%

Diluted EPS$2.42

QuarterQ3 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q3 FY2024	Q2 FY2024	A year earlier	Change on the year
Revenue	74,241	68,414	n/a	n/a
Cost of revenue	71,831	65,876	n/a	n/a
Gross profit	2,411	2,538	n/a	n/a
Gross margin	3.2%	3.7%	n/a
Selling, general and administrative	1,383	1,389	n/a	n/a
Operating income	672	553	n/a	n/a
Operating margin	0.9%	0.8%	n/a
Pre-tax income	628	467	n/a	n/a
Income tax	141	45.9	n/a	n/a
Effective tax rate	22.4%	9.8%	n/a
Net income	483	421	n/a	n/a
Net margin	0.7%	0.6%	n/a
Diluted EPS	$2.42	$2.09	n/a	n/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2024	Q2 FY2024	A year earlier	Change on the year
Operating cash flow	2,478	-878	n/a	n/a
Capital expenditure	118	113	n/a	n/a
Free cash flow	2,360	-991	n/a	n/a
Free cash flow margin	3.2%	-1.4%	n/a
Depreciation and amortisation	279	278	n/a	n/a
Share-based compensation	22.2	28.2	n/a	n/a
Buybacks	550	50.8	n/a	n/a
Dividends paid	103	107	n/a	n/a
Dividend per share	$0.51	$0.51	n/a	n/a
Diluted shares, weighted	200m	201m	n/a	n/a
Shares outstanding at period end	197m	199m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2024	Q2 FY2024	A year earlier	Change on the year
Total assets	66,772	63,868	n/a	n/a
Cash and equivalents	3,306	2,069	n/a	n/a
Receivables	24,051	22,643	n/a	n/a
Inventory	18,302	17,631	n/a	n/a
Goodwill	9,614	9,619	n/a	n/a
Long-term debt	4,731	5,249	n/a	n/a
Shareholders' equity	925	1,083	n/a	n/a

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	68,922	72,253	68,414	74,241	79,050	81,487	75,454	80,664	83,729	85,932	78,356	84,755
Cost of revenue	66,669	69,784	65,876	71,831	76,558	78,929	72,394	77,756	80,775	82,860	74,768	81,148
Gross profit	2,253	2,469	2,538	2,411	2,492	2,558	3,060	2,907	2,954	3,072	3,588	3,607
Gross margin	3%	3%	4%	3%	3%	3%	4%	4%	4%	4%	5%	4%
SG&A	1,394	1,399	1,389	1,383	1,490	1,472	1,600	1,673	1,749	1,795	1,978	2,132
Operating income	477	823	553	672	127	706	1,036	868	18.5	760	1,143	1,120
Operating margin	1%	1%	1%	1%	0%	1%	1%	1%	0%	1%	1%	1%
Pre-tax income	446	783	467	628	125	620	929	896	-187	709	2,089	996
Tax rate	22%	23%	10%	22%	94%	20%	23%	23%	n/a	20%	22%	22%
Net income	351	602	421	483	3.4	489	718	687	-340	560	1,641	764
Net margin	1%	1%	1%	1%	0%	1%	1%	1%	-0%	1%	2%	1%
Diluted EPS	$1.72	$2.98	$2.09	$2.42	n/a	$2.50	$3.68	$3.52	-$1.74	$2.87	$8.40	$3.94
Operating cash flow	1,827	885	-878	2,478	1,000	-2,719	3,351	109	3,133	-2,305	1,339	2,654
Capital expenditure	175	74.2	113	118	182	106	129	183	250	119	166	226
Free cash flow	1,651	811	-991	2,360	818	-2,825	3,222	-74.0	2,884	-2,425	1,173	2,428
Buybacks	274	386	50.8	550	505	385	50.0	0.0	0.1	n/a	n/a	n/a
Dividends paid	98.3	106	107	103	101	111	111	107	108	127	117	117
Shares outstanding	201m	199m	199m	197m	195m	194m	194m	194m	194m	195m	195m	191m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 31 July 2024, accession 0001140859-24-000119: the filing on EDGAR. All of Cencora, Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install