Healthcare distributor Cencora (NYSE: COR) will be reporting results this Wednesday before market open. Here’s what you need to know.
Cencora missed analysts’ revenue expectations last quarter, reporting revenues of $85.93 billion, up 5.5% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ EPS estimates but a slight miss of analysts’ revenue 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 8% year on year, slowing from the 10.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Centene delivered year-on-year revenue growth of 7.1%, beating analysts’ expectations by 6.2%, and Elevance Health reported revenues up 1.5%, topping estimates by 2.4%. Centene traded up 24.1% following the results while Elevance Health was also up 5.5%.
Read our full analysis of Centene’s results here and Elevance Health’s results here.
There has been positive sentiment among investors in the health insurance providers segment, with share prices up 5.7% on average over the last month. Cencora is down 5.2% during the same time and is heading into earnings with an average analyst price target of $402.92 (compared to the current share price of $304.30).
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