Cencora, Inc. Files Q1 2025 10-Q Report

Ticker: COR · Form: 10-Q · Filed: Feb 5, 2025 · CIK: 1140859

Cencora, INC. 10-Q Filing Summary
FieldDetail
CompanyCencora, INC. (COR)
Form Type10-Q
Filed DateFeb 5, 2025
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, financials, quarterly-report

TL;DR

Cencora (formerly AmerisourceBergen) filed its Q1 2025 10-Q. Check financials.

AI Summary

Cencora, Inc. filed its 10-Q report for the period ending December 31, 2024. The company, formerly known as AmerisourceBergen Corp, operates in the wholesale drug and druggists' sundries sector. The filing covers the first quarter of their fiscal year 2025.

Why It Matters

This filing provides investors with an update on Cencora's financial performance and operational status for the first quarter of fiscal year 2025, offering insights into the company's business trajectory.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

FAQ

What is the reporting period for this 10-Q filing?

The reporting period is for the quarter ended December 31, 2024.

What was Cencora, Inc. formerly known as?

Cencora, Inc. was formerly known as AmerisourceBergen Corp.

When was this 10-Q filing submitted to the SEC?

This filing was submitted on February 5, 2025.

What is Cencora's Standard Industrial Classification code?

Cencora's SIC code is 5122 for Wholesale-Drugs Proprietaries & Druggists' Sundries.

What is the fiscal year end for Cencora, Inc.?

Cencora, Inc.'s fiscal year ends on September 30.

Filing Stats: 4,445 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2025-02-05 14:09:29

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 3 1 , 2024 and September 30, 202 4 4 Consolidated Statements of Operations for the three mo nths ended December 3 1 , 2024 and 2023 5 Consolidated Statements of Comprehensive Income for the three months ended December 3 1 , 2024 and 2023 6 Consolidated Statements of Changes in Stockholders' Equity for the thre e months ended December 3 1 , 2024 and 2023 7 Consolidated Statements of Cash Flows for the three months ended December 3 1 , 2024 and 2023 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 32

Controls and Procedures

Item 4. Controls and Procedures 32

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 33

Risk Factors

Item 1A. Risk Factors 33

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 33

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33

Other Information

Item 5. Other Information 33

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 may include, without limitation, statements regarding our financial position, business strategy and the plans and objectives of management for our future operations; future liabilities and other obligations; anticipated trends and prospects in the industries in which our business operates; new products, services and related strategies; and capital allocation, including share repurchases and dividends. These statements may 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 Quarterly Report on Form 10-Q, 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 forward-looking statements reflect management's current views with respect to future events, subject to uncertainty and changes in circumstances, and are based on assumptions as of the date of this Quarterly Report on Form 10-Q. 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,

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, 2024 September 30, 2024 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 3,224,260 $ 3,132,648 Accounts receivable, less allowances for returns and credit losses: $ 1,326,940 as of December 31, 2024 and $ 1,308,018 as of September 30, 2024 24,545,724 23,871,815 Inventories 20,508,020 18,998,833 Right to recover assets 1,192,707 1,175,871 Prepaid expenses and other 515,923 538,646 Total current assets 49,986,634 47,717,813 Property and equipment, net 2,099,787 2,181,410 Goodwill 9,177,245 9,318,027 Other intangible assets 3,682,211 4,001,046 Deferred income taxes 219,417 246,348 Other assets 3,889,020 3,637,023 TOTAL ASSETS $ 69,054,314 $ 67,101,667 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 49,910,853 $ 50,942,162 Accrued expenses and other 2,385,026 2,758,560 Short-term debt 2,213,226 576,331 Total current liabilities 54,509,105 54,277,053 Long-term debt 5,935,321 3,811,745 Accrued income taxes 303,433 291,796 Deferred income taxes 1,585,936 1,643,746 Accrued litigation liability 4,296,902 4,296,902 Other liabilities 2,061,715 1,993,683 Commitments and contingencies (Note 9) Stockholders' equity: Common stock, $ 0.01 par value - authorized, issued, and outstanding: 600,000,000 shares, 297,094,138 shares, and 193,849,411 shares as of December 31, 2024, respectively, and 600,000,000 shares, 296,169,781 shares, and 194,943,968 shares as of September 30, 2024, respectively 2,971 2,962 Additional paid-in capital 6,106,291 6,030,790 Retained earnings 5,794,851 5,417,139 Accumulated other comprehensive loss ( 1,399,624 ) ( 989,118 ) Treasury stock, at cost: 103,244,727 shares as of December 31, 2024 and 101,225,813 shares as of September 30, 2024 ( 10,277,909 ) ( 9,815,835 ) Total Cencora

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, 2024 and the results of operations and cash flows for the interim periods ended December 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, 2024. 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

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