Healthcare distributor Cencora (NYSE: COR) will be reporting earnings this Wednesday before market hours. Here’s what you need to know.
Cencora missed analysts’ revenue expectations last quarter, reporting revenues of $78.36 billion, up 3.8% year on year. It was a slower quarter for the company, with EPS in line with analysts’ estimates.
Is Cencora a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cencora’s revenue to grow 4.7% year on year, slowing from the 8.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Cencora has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Cencora’s peers in the health insurance providers segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Centene delivered year-on-year revenue growth of 9.9%, beating analysts’ expectations by 13.1%, and UnitedHealth reported flat revenue, topping estimates by 1.2%. Centene traded down 3.5% following the results while UnitedHealth was up 1.8%.
Read our full analysis of Centene’s results here and UnitedHealth’s results here.
Investors in the health insurance providers segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Cencora is up 3.1% during the same time and is heading into earnings with an average analyst price target of $356.67 (compared to the current share price of $307.85).
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