Slide 1: Cencora, Inc. Fourth Quarter Fiscal 2023 Earnings Call
Cencora, Inc. Fourth Quarter Fiscal 2023 Earnings Call November 2, 2023
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: 46,000+ team members
46,000+ team members Diverse expertise focused on improving global health Cencora is united in our responsibility to create healthier futures. Long-term vision of expanding leadership and Cencora creates unparalleled access, efficiency, and reliability for human and animal health as a 150+ growing h
Slide 4: Fiscal 2023 highlights & strategic overview
Fiscal 2023 highlights & strategic overview Business highlights Financial highlights Fiscal 2024 guidance • Cencora completed its name change $11.99 • Introduced fiscal 2024 guidance from AmerisourceBergen and began based on strong operational Adjusted(1) EPS trading under the ticker symbol “COR” pe
Slide 5: Financial results
cencora Financial results
Slide 6: Q4 fiscal 2023 financial summary
Q4 fiscal 2023 Consolidated results GAAP Adjusted (non-GAAP)(1) financial summary Revenue y/y% $68.9B 12.7% $68.9B 12.7% 12.7% Gross profit $2.3B $2.3B y/y% 13.5% 9.4% Revenue growth y/y 8.0% Operating expenses $1.8B $1.5B y/y% 16.0% 10.2% Consolidated (1) adjusted operating income growth y/y Operat
Slide 7: U.S. Healthcare Solutions segment
U.S. Healthcare Solutions segment Q4 fiscal 2023 financial results Q4 Q4 Financial results y/y% fiscal 2023 fiscal 2022 • Revenue increased 13.0% to $61.9B due to overall market growth primarily driven Revenue $61.9B $54.8B 13.0% by unit volume growth, including increased sales of products labeled f
Slide 8: International Healthcare Solutions segment
International Healthcare Solutions segment Q4 fiscal 2023 financial results Constant Financial results Q4 Q4 y/y% currency(1) (as reported) fiscal 2023 fiscal 2022 • Revenue increased 9.5% to $7.0B on an y/y% as reported basis due to increased Revenue $7.0B $6.4B 9.5% 10.1% revenue across our busine
Slide 9: Fiscal 2023 financial summary
Fiscal 2023 Consolidated results GAAP Adjusted (non-GAAP)(1) financial summary Revenue y/y% $262.2B 9.9% $262.2B 9.9% 9.9% $9.0B $9.0B Revenue growth y/y Gross profit y/y% 8.0% 7.3% 4.0% Consolidated Operating expenses $6.6B $5.7B (1) y/y% 11.6% 9.2% adjusted operating income growth y/y Operating in
Slide 10: Fiscal 2024 guidance
cencora Fiscal 2024 guidance
Slide 11: Fiscal 2024 guidance
Fiscal 2024 guidance Constant As reported ex. Constant currency As reported currency (1) COVID-19 ex. COVID-19 (1) Consolidated Revenue 7% to 10% 7% to 10% Adjusted operating income(1) 4% to 6% 5% to 7% 7% to 9% 8% to 10% U.S. Healthcare Solutions Revenue 7% to 10% Adjusted operating income(1) 4% to
Slide 12: Fiscal 2024 guidance continued
Fiscal 2024 guidance continued Fiscal 2024 Guidance Fiscal 2023 Actual Adjusted diluted earnings per share(1) $12.70 to $13.00 $11.99 Interest expense $210 to $230 million $229 million Adjusted effective tax rate (1) 20% to 21% 20.3% Diluted weighted average shares outstanding 200 to 202 million 204
Slide 13: Strong adjusted diluted EPS Growth
Strong adjusted diluted EPS Growth 1 13 1 Reflects exclusive COVID-19 product distribution in fiscal 2023 2 Range incorporates estimated 2 to 10 cents of contribution related to exclusive COVID-19 product distribution in FY24
Slide 14: Advancing environmental, social, and governance initiatives
Environmental Adapting to a changing climate • Near-term Science-Based Target validated by the Science Based Target initiative • Robust disaster preparedness plans and climate risk assessments in place to ensure supply chain resiliency with nearly 400 locations assessed across 24 countries • Began g
Slide 15: 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 16: Appendix
cencora Appendix
Slide 17: GAAP to Non-GAAP Reconciliations: Three Months Ended September 30, 2023
CENCORA, INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share data) (unaudited) Three Months Ended September 30, 2023 Net Income Attributable to Net Income Diluted Operating Income Before Income Tax Noncontrolling Attributable Earnings Gross Profit Expenses Operating Income Income T
Slide 18: GAAP to Non-GAAP Reconciliations: Three Months Ended September 30, 2022
CENCORA, INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share data) (unaudited) Three Months Ended September 30, 2022 Net Income Attributable to Net Income Diluted Operating Operating Income Before Income Tax Noncontrolling Attributable Earnings Gross Profit Expenses Income Income T
Slide 19: GAAP to Non-GAAP Reconciliations: Fiscal Year Ended September 30, 2023
CENCORA, INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share data) (unaudited) Fiscal Year Ended September 30, 2023 Net Loss Attributable to Net Income Diluted Operating Income Before Income Tax Noncontrolling Attributable to Earnings Gross Profit Expenses Operating Income Income T
Slide 20: GAAP to Non-GAAP Reconciliations: Fiscal Year Ended September 30, 2022
CENCORA, INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share data) (unaudited) Fiscal Year Ended September 30, 2022 Net Income Diluted Attributable to Net Income Operating Operating Income Before Income Tax Noncontrolling Attributable Earnings Gross Profit Expenses Income Income Ta
Slide 21: 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 22: Supplemental information regarding non-GAAP financial measures (cont.)
Supplemental information regarding non-GAAP financial measures (cont.) • Adjusted net income/loss attributable to noncontrolling interest: Adjusted net income/loss attributable to noncontrolling interest excludes the non-controlling interest portion of the same items described above. Management beli
Slide 23: Contact
Contact Bennett S. Murphy Senior Vice President Head of Investor Relations & Treasury bennett.murphy@cencora.com