GLP-1 Sales Surge
Sales of diabetes and weight-loss GLP-1 products jumped 25.5% year-over-year to $2.3 billion in the quarter, a key driver of U.S. Healthcare Solutions growth.
Source: 10-Q Item 2 MD&A
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Cencora's Q3 FY2026 was defined by the first full quarter of contribution from the OneOncology acquisition and robust growth in GLP-1 products. Revenue growth was propelled by a 25.5% surge in GLP-1 drug sales and the integration of OneOncology, while gross profit benefited from a $94 million LIFO credit versus $52 million a year ago. However, higher distribution and acquisition costs, coupled with lower antitrust settlement gains, partially offset the profit expansion, and the company faces increasing financial leverage after funding the acquisition with debt.
Revenue
$84.75B
+5.07% YoY
EPS (Diluted)
$3.94
+11.93% YoY
Gross Margin
4.3%
+0.7 pts YoY
Operating Income
$1.12B
+29.11% YoY
Source: SEC XBRL
Cencora (COR) reported Q3 FY2026 revenue of $84.75B, up 5.1% year over year. Operating margin was 1.3%, up 0.2 points from 1.1% a year earlier. COR's fiscal Q3 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Sep 2026 | 4.48 | 4.39 | Beat +2.0% |
| Mar 2026 | 4.75 | 4.86 | Miss -2.3% |
| Dec 2025 | 4.08 | 4.08 | Beat +0.0% |
| Sep 2025 | 3.84 | 3.82 | Beat +0.4% |
2 reported segments · SEC XBRL
Segment revenue totals $82.54B; with $2.21B of reconciling items (corporate, unallocated and eliminations) it ties to the $84.75B of consolidated revenue on the income statement.
Profit above is reported as operating income, the measure COR itself discloses in this filing. Each company chooses its own measure here, so these margins are not comparable with another company's.
Compiled by AI from 10-Q Item 2 of this filing
Sales of diabetes and weight-loss GLP-1 products jumped 25.5% year-over-year to $2.3 billion in the quarter, a key driver of U.S. Healthcare Solutions growth.
Source: 10-Q Item 2 MD&A
The February 2026 acquisition of OneOncology significantly increased gross profit and operating income, but also drove a 27.5% rise in distribution, selling, and administrative expenses.
Source: 10-Q Item 2 MD&A
Dismissal of opioid litigation led to a $102 million reduction in opioid liability, resulting in a net credit in litigation and opioid-related expenses for the quarter.
Source: 10-Q Item 2 MD&A
Management noted that over the next twelve months, no key customer contracts are scheduled to expire, reducing near-term revenue risk.
Source: 10-Q Item 2 MD&A
During the nine-month period, the company recorded a $249.5 million impairment of assets, including goodwill, related to the U.S. Consulting Services business that was divested in April 2026.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Total long-term debt surged 42.3% year-over-year to $11.7B, with a debt-to-equity ratio of 3.84, increasing interest burden and refinancing risk.
Source: 10-Q Balance Sheet (XBRL)
Gross margin remains extremely low at 4.26%, making the company highly sensitive to changes in drug pricing, supplier costs, or product mix shifts.
Source: 10-Q Income Statement (XBRL)
Current ratio of 0.93 indicates current liabilities exceed current assets, posing a risk if credit availability tightens or working capital needs spike.
Source: 10-Q Balance Sheet (XBRL)
Total assets grew 13.3% year-over-year primarily due to acquisitions, increasing the risk of future impairment charges if acquired businesses underperform.
Source: 10-Q Balance Sheet (XBRL)
Recent large acquisitions (OneOncology, RCA) require significant integration efforts; any missteps could lead to higher costs or loss of expected synergies.
Source: 10-Q Cash Flow Statement (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 84.75 $B | 80.66 $B | +5.07% |
Cost of Revenue $B | 81.15 $B | 77.76 $B | +4.36% |
Gross Profit $B | 3.61 $B | 2.91 $B | +24.08% |
Operating Income $B | 1.12 $B | 0.87 $B | +29.11% |
Net Income $M | 763.52 $M | 687.40 $M | +11.07% |
EPS (Basic) $ | 3.95 $ | 3.55 $ | +11.27% |
EPS (Diluted) $ | 3.94 $ | 3.52 $ | +11.93% |
SG&A Expense $B | 2.13 $B | 1.67 $B | +27.47% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
COR delivered strong Q2 FY2026 results with revenue rising 3.8% YoY to $78.4B, gross profit surging 17.3% to $3.6B, and net income more than doubling (+128.6%) to $1.6B, though year-to-date operating cash flow turned negative at -$967M amid elevated capital deployment.
COR delivered solid Q1 FY2026 results with revenue of $85.9B (+5.5% YoY), gross profit surging 20.1% to $3.1B, and net income rising 14.5% to $560M, though operating cash flow remained negative and SG&A costs jumped 22%.
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