By Rob Curran
Cencora raised its 2025 earnings projection on strong U.S. demand for weight-loss drugs as quarterly net income jumped 71%.
The drug wholesaler formerly known as AmerisourceBergen logged earnings of $717.9 million, or $3.68 a share, for the fiscal second quarter ended in March, down from $420.8 million, or $2.09 a share, a year earlier.
Stripping out certain one-time items, Cencora's adjusted earnings were $4.42 a share, topping the average Wall Street target of $4.11 a share.
Revenue rose 10% to $75.45 billion, just shy of the mean analyst estimate of $75.68 billion.
Sales growth was particularly strong in its U.S. health-care unit, partly due to rising demand for glucagon-like peptide 1 inhibitors, the blockbuster class of drugs that includes Novo Nordisk's Ozempic and Eli Lilly's Mounjaro. Cencora also noted strong demand for specialty products from physicians' offices and other sources.
Cencora boosted its forecast for adjusted earnings per share for the fiscal year ending in September to between $15.70 and $15.95 from a prior estimated range of $15.30 to $15.60.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
May 07, 2025 07:39 ET (11:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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