Slide 1: Cencora, Inc. Second Quarter Fiscal 2024 Earnings Call
Cencora, Inc. Second Quarter Fiscal 2024 Earnings Call May 1, 2024
Slide 2: Cautionary Note Regarding Forward Looking Statements
Cautionary Note Regarding Forward Looking Statements Certain of the statements contained in this presentation are “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 “Securit
Slide 3: 8% - 12% targeted long-term adjusted diluted EPS growth
8% - 12%* targeted long - term adjusted diluted EPS growth *Growth rates given on a constant currency, ex - COVID basis Uniting under our new identity as Cencora, Long-term vision of we are better positioned to expanding leadership and grow globally and leverage growing higher-margin, our infrastruc
Slide 4: Second quarter highlights & strategic overview
Second quarter highlights & strategic overview Business highlights Financial highlights & fiscal 2024 guidance • Cencora announced its leadership succession plan on March 12, • Adjusted diluted EPS(1) increased 8.6% year-over-year to $3.80. 2024. Steven H. Collis will retire as President and Chief E
Slide 5: Financial results
cencora Financial results
Slide 6: Q2 fiscal 2024 financial summary
Q2 fiscal 2024 Consolidated results GAAP Adjusted (non-GAAP)(1) financial summary Revenue y/y% $68.4B 7.8% $68.4B 7.8% Gross profit $2.5B $2.5B 7.8% y/y% 10.6% 7.4% Revenue growth y/y Operating expenses $2.0B $1.5B 10.9% y/y% 14.4% 5.2% Consolidated adjusted operating income growth y/y(1) Operating
Slide 7: U.S. Healthcare Solutions segment
U.S. Healthcare Solutions segment Q2 fiscal 2024 financial results Q2 Q2 Financial results y/y% fiscal 2024 fiscal 2023 • Revenue increased 8.1% to $61.3 billion due to overall market growth primarily Revenue $61.3B $56.7B 8.1% driven by unit volume growth, including increased sales of products labe
Slide 8: International Healthcare Solutions segment
International Healthcare Solutions segment Q2 fiscal 2024 financial results Constant • Revenue increased 5.3% to $7.1 billion Financial results Q2 Q2 y/y% currency(1) on an as reported basis primarily due to (as reported) fiscal 2024 fiscal 2023 y/y% increased sales in our European distribution busi
Slide 9: Fiscal 2024 guidance
cencora Fiscal 2024 guidance
Slide 10: Fiscal 2024 guidance
Fiscal 2024 guidance As reported Constant currency(1) Consolidated Revenue 10% to 12% 10% to 12% Adjusted operating income(1)(2) 9% to 11% 10% to 12% U.S. Healthcare Solutions Revenue 11% to 13% Adjusted operating income(1)(2) 10% to 12% International Healthcare Solutions Revenue 4% to 7% 7% to 10%
Slide 11: Fiscal 2024 guidance continued
Fiscal 2024 guidance continued Fiscal 2024 Guidance Fiscal 2023 Actual Adjusted diluted earnings per share(1) $13.30 to $13.50 $11.99 Interest expense $185 to $215 million $229 million Adjusted effective tax rate(1) ~21% 20.3% Diluted weighted average shares outstanding 201 to 202 million 204.6 mill
Slide 12: Advancing environmental, social, and governance initiatives to create healthier futures
Environmental Adapting to a changing climate • Near-term Science-Based Target validated by the Science Based Targets initiative • Completed business impact analyses for three of our largest businesses in the U.S., incorporating climate impact assessment results from previous years, as well as other
Slide 13: Creating differentiated value for our stakeholders
Creating differentiated value for our stakeholders Our long-term, sustainable growth is supported by investments in our people and culture and commitment to ESG Our 5 Strategic Imperatives Why we exist We are united in our responsibility to create healthier futures Advance core business Enhance capa
Slide 14: Appendix
cencora Appendix
Slide 15: GAAP to Non-GAAP Reconciliations (Three Months Ended March 31, 2024)
CENCORA, INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share data) (unaudited) Three Months Ended March 31, 2024 Income Net Income Diluted Operating Operating Before Income Tax Attributable Earnings Gross Profit Expenses Income Income Taxes Expense to Cencora Per Share GAAP $ 2,538
Slide 16: GAAP to Non-GAAP Reconciliations (Three Months Ended March 31, 2023)
CENCORA, INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share data) (unaudited) Three Months Ended March 31, 2023 Income Net Income Diluted Operating Operating Before Income Tax Attributable Earnings Gross Profit Expenses Income Income Taxes Expense to Cencora Per Share GAAP $ 2,295
Slide 17: Supplemental information regarding non-GAAP financial measures
Supplemental information regarding non-GAAP financial measures To supplement the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses the non-GAAP financial measures described below. The non-GAAP financial measures should be viewed in
Slide 18: Supplemental information regarding non-GAAP financial measures (cont.)
Supplemental information regarding non-GAAP financial measures (cont.) • Adjusted net income attributable to Cencora: Adjusted net income attributable to the Company is a non-GAAP financial measure that excludes the same items that are described above. Management believes that this non-GAAP financia
Slide 19: Contact
Contact Bennett S. Murphy Senior Vice President Head of Investor Relations & Treasury bennett.murphy@cencora.com