Cencora, Inc. Files 10-Q for Period Ending December 31, 2023

Ticker: COR · Form: 10-Q · Filed: Jan 31, 2024 · CIK: 1140859

Cencora, INC. 10-Q Filing Summary
FieldDetail
CompanyCencora, INC. (COR)
Form Type10-Q
Filed DateJan 31, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.01
Sentimentneutral

Complexity: simple

Sentiment: neutral

Topics: 10-Q, Cencora, COR, Financial Report, Quarterly Earnings

TL;DR

<b>Cencora, Inc. (COR) has filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing its financial performance for the first quarter of fiscal year 2024.</b>

AI Summary

Cencora, Inc. (COR) filed a Quarterly Report (10-Q) with the SEC on January 31, 2024. Cencora, Inc. (COR) filed a 10-Q report for the period ending December 31, 2023. The filing covers the first quarter of fiscal year 2024. The company's former name was AmerisourceBergen Corp, with a name change effective May 17, 2001. Cencora, Inc. is incorporated in Delaware and operates in the Wholesale-Drugs Proprietary & Druggists' Sundries sector (SIC 5122). The filing was made on January 31, 2024.

Why It Matters

For investors and stakeholders tracking Cencora, Inc., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Cencora's financial health and operational performance during the specified quarter. Understanding the details within this report is crucial for assessing the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — Cencora, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant deviations from typical reporting requirements.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Cencora's performance drivers and outlook.

Key Numbers

Key Players & Entities

FAQ

When did Cencora, Inc. file this 10-Q?

Cencora, Inc. filed this Quarterly Report (10-Q) with the SEC on January 31, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Cencora, Inc. (COR).

Where can I read the original 10-Q filing from Cencora, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Cencora, Inc..

What are the key takeaways from Cencora, Inc.'s 10-Q?

Cencora, Inc. filed this 10-Q on January 31, 2024. Key takeaways: Cencora, Inc. (COR) filed a 10-Q report for the period ending December 31, 2023.. The filing covers the first quarter of fiscal year 2024.. The company's former name was AmerisourceBergen Corp, with a name change effective May 17, 2001..

Is Cencora, Inc. a risky investment based on this filing?

Based on this 10-Q, Cencora, Inc. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant deviations from typical reporting requirements.

What should investors do after reading Cencora, Inc.'s 10-Q?

Review the detailed financial statements and management discussion within the 10-Q to understand Cencora's performance drivers and outlook. The overall sentiment from this filing is neutral.

How does Cencora, Inc. compare to its industry peers?

Cencora operates within the pharmaceutical wholesale and distribution industry, a critical link in the healthcare supply chain.

Are there regulatory concerns for Cencora, Inc.?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

Industry Context

Cencora operates within the pharmaceutical wholesale and distribution industry, a critical link in the healthcare supply chain.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

  1. Analyze the balance sheet for changes in assets, liabilities, and equity compared to prior periods.
  2. Examine the cash flow statement to understand the company's cash generation and usage.
  3. Review any disclosures related to legal proceedings or significant contractual obligations.

Key Dates

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023, providing an update from the previous fiscal year's filings.

Filing Stats: 4,386 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-01-31 13:37:29

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 4 Consolidated Statements of Operations for the three months ended December 31, 2023 and 2022 5 Consolidated Statements of Comprehensive Income for the three months ended December 31, 2023 and 2022 6 Consolidated Statements of Changes in Stockholders' Equity for the three months ended December 31, 2023 and 2022 7 Consolidated Statements of Cash Flows for the three months ended December 31, 2023 and 2022 8

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 30

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31

Other Information

Item 5. Other Information 31

Exhibits

Item 6. Exhibits 33

SIGNATURES

SIGNATURES 34 1 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Securities Exchange Act"). These forward-looking statements include, without limitation, statements regarding our financial position, business strategy and the plans and objectives of management for our future operations; anticipated trends and prospects in the industries in which our business operates; and new products, services and related strategies. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this Annual Report on Form 10-K, words such as "aim," "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "might," "on track," "opportunity," "plan," "possible," "potential," "predict," "project," "seek," "should," "strive," "sustain," "synergy," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements are based on management's current expectations and beliefs and are subject to uncertainty and changes in circumstances and speak only as of the date hereof. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors that could have a material adverse effect on our financial condition, liquidity, results of operations or future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to: our ability to achieve

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM I. Financial Statements (Unaudited) CENCORA, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) December 31, 2023 September 30, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,872,351 $ 2,592,051 Accounts receivable, less allowances for returns and credit losses: $ 1,371,439 as of December 31, 2023 and $ 1,433,396 as of September 30, 2023 21,576,594 20,911,081 Inventories 18,652,240 17,454,768 Right to recover assets 1,242,978 1,314,857 Income tax receivable 21,591 77,120 Prepaid expenses and other 492,977 448,949 Total current assets 44,858,731 42,798,826 Property and equipment, net 2,117,283 2,135,171 Goodwill 9,660,542 9,574,117 Other intangible assets 4,376,431 4,431,783 Deferred income taxes 218,325 200,667 Other assets 3,458,985 3,418,182 TOTAL ASSETS $ 64,690,297 $ 62,558,746 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 47,743,474 $ 45,836,037 Accrued expenses and other 2,437,219 2,353,817 Short-term debt 592,779 641,344 Total current liabilities 50,773,472 48,831,198 Long-term debt 4,185,944 4,146,113 Accrued income taxes 335,293 310,676 Deferred income taxes 1,690,785 1,657,944 Accrued litigation liability 4,731,945 5,061,795 Other liabilities 1,911,602 1,884,733 Commitments and contingencies (Note 10) Stockholders' equity: Common stock, $ 0.01 par value - authorized, issued, and outstanding: 600,000,000 shares, 295,746,891 shares, and 199,461,864 shares as of December 31, 2023, respectively, and 600,000,000 shares, 294,822,962 shares, and 200,814,804 shares as of September 30, 2023, respectively 2,957 2,948 Additional paid-in capital 5,917,058 5,844,578 Retained earnings 4,819,997 4,324,187 Accumulated other comprehensive loss ( 1,136,485 ) ( 1,402,607 ) Treasury stock, at cost: 96,285,027 shares as of December 31, 2023 and 94,008,158 shares as of September 30, 2023 ( 8,691

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 1. Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements present the consolidated financial position, results of operations, and cash flows of Cencora, Inc. and its subsidiaries, including less-than-wholly-owned subsidiaries in which Cencora, Inc. has a controlling financial interest (the "Company"), as of the dates and for the periods indicated. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial information and in accordance with the instructions to Form 10-Q, and Rule 10-01 of Regulation S-X. In the opinion of management, all adjustments (consisting only of normal recurring accruals, except as otherwise disclosed herein) considered necessary to present fairly the financial position as of December 31, 2023 and the results of operations and cash flows for the interim periods ended December 31, 2023 and 2022 have been included. Certain information and disclosures normally included in financial statements presented in accordance with U.S. GAAP, but which are not required for interim reporting purposes, have been omitted. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2023. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual amounts could differ from these estimated amounts. Certain reclassifications have been made to prior-period amounts in order to conform to the current year presentation. Restricted

View Full Filing

View this 10-Q filing on SEC EDGAR

View on Read The Filing