Cencora, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Cencora, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance and operational status.</b>

AI Summary

Cencora, Inc. (COR) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Cencora, Inc. (formerly AmerisourceBergen Corp) filed a 10-Q report for the period ending March 31, 2024. The filing covers the fiscal second quarter of 2024. The company's principal executive offices are located at 1 West First Avenue, Conshohocken, PA 19428. The IRS number for Cencora, Inc. is 233079390. The company was incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Cencora, Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial data for Cencora, Inc., crucial for evaluating its performance and making informed investment decisions. Understanding the details within this report is essential for assessing the company's financial health, operational efficiency, and strategic direction in the wholesale drug and druggists' sundries sector.

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 any immediate red flags or significant negative developments based on the provided header information.

Analyst Insight

Review the detailed financial statements and management discussion within the full 10-Q filing to assess Cencora's performance and outlook.

Key Numbers

• 2024-03-31 — Period End Date (10-Q Filing)
• 2024-05-01 — Filing Date (10-Q Filing)
• 0930 — Fiscal Year End (Company Information)
• 233079390 — IRS Number (Company Information)

Key Players & Entities

• Cencora, Inc. (company) — Company Name
• COR (company) — Ticker Symbol
• AmerisourceBergen Corp (company) — Former Company Name
• 1 West First Avenue, Conshohocken, PA 19428 (location) — Business Address
• 233079390 (organization_id) — IRS Number
• DE (location) — State of Incorporation
• 0930 (date) — Fiscal Year End
• 2024-03-31 (date) — Period of Report

FAQ

Industry Context

Cencora operates within the wholesale drug and druggists' sundries sector, a critical part of the pharmaceutical supply chain.

Regulatory Implications

As a publicly traded company, Cencora is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of Form 10-Q for quarterly financial information.

What Investors Should Do

1. Analyze the revenue and net income figures for the quarter ending March 31, 2024.
2. Examine any disclosed changes in debt or equity structure.
3. Review management's discussion and analysis for insights into operational performance and future outlook.

Key Dates

• 2024-03-31: Period End Date — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-01: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 10-Q report ending March 31, 2024. Comparative data from previous filings is not yet available in this extract.

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share COR New York Stock Exchange (

Filing Documents

• cor-20240331.htm (10-Q) — 1181KB
• fy2024q2-form10xqxex104.htm (EX-10.4) — 42KB
• exhibit311-q22024.htm (EX-31.1) — 10KB
• exhibit312-q22024.htm (EX-31.2) — 10KB
• exhibit32-q22024.htm (EX-32) — 6KB
• cor-20240331_g1.gif (GRAPHIC) — 17KB
• fy2024q2-form10xqxex104001.jpg (GRAPHIC) — 163KB
• fy2024q2-form10xqxex104002.jpg (GRAPHIC) — 259KB
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• fy2024q2-form10xqxex104006.jpg (GRAPHIC) — 243KB
• fy2024q2-form10xqxex104007.jpg (GRAPHIC) — 187KB
• fy2024q2-form10xqxex104008.jpg (GRAPHIC) — 338KB
• fy2024q2-form10xqxex104009.jpg (GRAPHIC) — 254KB
• fy2024q2-form10xqxex104010.jpg (GRAPHIC) — 53KB
• fy2024q2-form10xqxex104011.jpg (GRAPHIC) — 134KB
• 0001140859-24-000072.txt (&nbsp;) — 9188KB
• cor-20240331.xsd (EX-101.SCH) — 38KB
• cor-20240331_cal.xml (EX-101.CAL) — 77KB
• cor-20240331_def.xml (EX-101.DEF) — 168KB
• cor-20240331_lab.xml (EX-101.LAB) — 523KB
• cor-20240331_pre.xml (EX-101.PRE) — 361KB
• cor-20240331_htm.xml (XML) — 751KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Consolidated Balance Sheets as of March 31, 2024 and September 30, 2023 4 Consolidated Statements of Operations for the three and six months ended March 31, 2024 and 2023 5 Consolidated Statements of Comprehensive Income for the three and six months ended March 31, 2024 and 2023 6 Consolidated Statements of Changes in Stockholders' Equity for the three and six months ended March 31, 2024 and 2023 8 Consolidated Statements of Cash Flows for the six months ended March 31, 2024 and 2023 9

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 10

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 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 33

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 34

Risk Factors

Item 1A. Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 34

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 34

Other Information

Item 5. Other Information 34

Exhibits

Item 6. Exhibits 35

SIGNATURES

SIGNATURES 36 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) March 31, 2024 September 30, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,068,858 $ 2,592,051 Accounts receivable, less allowances for returns and credit losses: $ 1,330,778 as of March 31, 2024 and $ 1,433,396 as of September 30, 2023 22,642,880 20,911,081 Inventories 17,630,985 17,454,768 Right to recover assets 1,194,915 1,314,857 Income tax receivable 111,375 77,120 Prepaid expenses and other 512,039 448,949 Total current assets 44,161,052 42,798,826 Property and equipment, net 2,089,497 2,135,171 Goodwill 9,619,024 9,574,117 Other intangible assets 4,175,587 4,431,783 Deferred income taxes 256,890 200,667 Other assets 3,565,996 3,418,182 TOTAL ASSETS $ 63,868,046 $ 62,558,746 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 46,320,774 $ 45,836,037 Accrued expenses and other 2,371,885 2,353,817 Short-term debt 1,069,152 641,344 Total current liabilities 49,761,811 48,831,198 Long-term debt 4,180,306 4,146,113 Accrued income taxes 315,559 310,676 Deferred income taxes 1,701,735 1,657,944 Accrued litigation liability 4,719,545 5,061,795 Other liabilities 1,962,068 1,884,733 Commitments and contingencies (Note 10) Stockholders' equity: Common stock, $ 0.01 par value - authorized, issued, and outstanding: 600,000,000 shares, 295,905,875 shares, and 199,388,633 shares as of March 31, 2024, respectively, and 600,000,000 shares, 294,822,962 shares, and 200,814,804 shares as of September 30, 2023, respectively 2,959 2,948 Additional paid-in capital 5,953,642 5,844,578 Retained earnings 5,133,770 4,324,187 Accumulated other comprehensive loss ( 1,260,288 ) ( 1,402,607 ) Treasury stock, at cost: 96,517,242 shares as of March 31, 2024 and 94,008,158 shares as of September 30, 2023 ( 8,746,941 ) (

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 March 31, 2024 and the results of operations and cash flows for the interim periods ended March 31, 2024 and 2023 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 Cash

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