Cencora, Inc. Files Q3 2024 10-Q Report

TL;DR

Cencora's Q3 2024 10-Q is in. Check financials.

AI Summary

Cencora, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the third quarter of their fiscal year. Key financial data and business operations for this period are detailed within the report.

Why It Matters

This report provides investors with a detailed look at Cencora's financial performance and operational status during the third quarter of fiscal year 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not indicate any immediate or unusual risks.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20240731 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• Cencora, Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240731 (date) — Filing date of the report
• AMERISOURCEBERGEN CORP (company) — Former company name

FAQ

Key Financial Figures

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

Filing Documents

• cor-20240630.htm (10-Q) — 1178KB
• exhibit311-q32024.htm (EX-31.1) — 10KB
• exhibit312-q32024.htm (EX-31.2) — 10KB
• exhibit32-q32024.htm (EX-32) — 6KB
• cor-20240630_g1.gif (GRAPHIC) — 17KB
• 0001140859-24-000119.txt ( ) — 6121KB
• cor-20240630.xsd (EX-101.SCH) — 39KB
• cor-20240630_cal.xml (EX-101.CAL) — 77KB
• cor-20240630_def.xml (EX-101.DEF) — 183KB
• cor-20240630_lab.xml (EX-101.LAB) — 547KB
• cor-20240630_pre.xml (EX-101.PRE) — 378KB
• cor-20240630_htm.xml (XML) — 750KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Consolidated Balance Sheets as of June 30, 2024 and September 30, 2023 4 Consolidated Statements of Operations for the three and nine months ended June 30, 2024 and 2023 5 Consolidated Statements of Comprehensive Income for the three and nine months ended June 30, 2024 and 2023 6 Consolidated Statements of Changes in Stockholders' Equity for the three and nine months ended June 30, 2024 and 2023 8 Consolidated Statements of Cash Flows for the nine months ended June 30, 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) June 30, 2024 September 30, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 3,306,200 $ 2,592,051 Accounts receivable, less allowances for returns and credit losses: $ 1,271,241 as of June 30, 2024 and $ 1,433,396 as of September 30, 2023 24,051,478 20,911,081 Inventories 18,301,546 17,454,768 Right to recover assets 1,143,731 1,314,857 Income tax receivable 44,645 77,120 Prepaid expenses and other 459,662 448,949 Total current assets 47,307,262 42,798,826 Property and equipment, net 2,080,879 2,135,171 Goodwill 9,613,671 9,574,117 Other intangible assets 4,010,892 4,431,783 Deferred income taxes 229,653 200,667 Other assets 3,530,066 3,418,182 TOTAL ASSETS $ 66,772,423 $ 62,558,746 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 49,883,049 $ 45,836,037 Accrued expenses and other 2,525,710 2,353,817 Short-term debt 565,108 641,344 Total current liabilities 52,973,867 48,831,198 Long-term debt 4,165,910 4,146,113 Accrued income taxes 332,364 310,676 Deferred income taxes 1,607,661 1,657,944 Accrued litigation liability 4,697,695 5,061,795 Other liabilities 1,934,423 1,884,733 Commitments and contingencies (Note 10) Stockholders' equity: Common stock, $ 0.01 par value - authorized, issued, and outstanding: 600,000,000 shares, 296,054,632 shares, and 197,008,633 shares as of June 30, 2024, respectively, and 600,000,000 shares, 294,822,962 shares, and 200,814,804 shares as of September 30, 2023, respectively 2,961 2,948 Additional paid-in capital 5,989,201 5,844,578 Retained earnings 5,514,702 4,324,187 Accumulated other comprehensive loss ( 1,279,169 ) ( 1,402,607 ) Treasury stock, at cost: 99,045,999 shares as of June 30, 2024 and 94,008,158 shares as of September 30, 2023 ( 9,302,486 ) ( 8,247,1

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 June 30, 2024 and the results of operations and cash flows for the interim periods ended June 30, 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. Restricted Cash The Company is required to maintain certain cash deposits with banks mainly consisting of deposits restricted under cont

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