Cencora Lifts Annual Earnings Outlook Above View; Stock Up In Pre-Market

(RTTNews) - Cencora, Inc. (COR), a drug wholesale company, on Wednesday announced increased full-year guidance to reflect its expected strong business performance for the year, including the incremental contributions from commercial Covid-19 vaccine distribution in the first quarter.

Excluding items, for the full year, the company now expects earnings per share of $13.25 to $13.50 versus its previous outlook of $12.70 to $13 per share.

On average, 17 analysts polled by Thomson Reuters expect the firm to earn $12.91 per share, for the year. Analysts' estimates typically exclude special items.

For the full year, Cencora now projects a revenue growth of 10 percent to 12 percent, up from the previous range of 7 percent to 10 percent. Analysts, on average, expect the company to record revenue of $284.04 billion, for the year.

The company will pay a quarterly cash dividend of $0.51 per share, to be paid on February 26, to stockholders of record as of February 9.

COR was trading up by 3.78 percent at $228.88 per share in the pre-market trade on the New York Stock Exchange.