By Katherine Hamilton

Cencora shares fell after the company cut its revenue outlook following lower-than-expected quarterly revenue.

The stock slid 18% to $252.03 on Wednesday, at one point hitting a 52-week low. Shares have lost about a quarter of their value this year.

The drug distributor said it now expects full-year revenue to increase 4% to 6%, down from its previous range of 7% to 9% growth. Cencora is now expecting lower revenue growth in its U.S. healthcare solutions segment, Chief Financial Officer Jim Cleary said.

Revenue in the most-recently ended quarter rose 3.8% to $78.36 billion, below the $81.09 billion analysts were projecting.

Adjusted earnings per share were $4.75, missing the $4.82 that Wall Street was forecasting, according to FactSet.

Cencora executives told analysts they are seeing slower-than-expected growth from GLP-1s, which contributed to the company's lower guidance.

The Inflation Reduction Act also is continuing to reduce the Wholesale Acquisition Cost for certain drugs covered by Medicare, which Cencora said resulted in a $2 billion dent in sales and a 3% headwind to U.S. revenue growth in the quarter.

Cencora also lost a grocery customer and an oncology customer during the quarter, it said. There were faster-than-anticipated brand conversions at a large mail-order customers that contributed to reduced revenue growth.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

May 06, 2026 10:56 ET (14:56 GMT)

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