Cencora Raises Dividend 10% and Guides to 8% to 10% Adjusted EPS Growth in Fiscal 2027

Published November 4, 2026 at 9:22 AM EST

Cencora raised its quarterly dividend 10% and guided to 8% to 10% adjusted earnings growth in fiscal 2027 after fourth-quarter revenue rose 5.5% to $88.4 billion, according to its 8-K released Wednesday.

The drug wholesaler reported fiscal fourth-quarter GAAP diluted EPS of $2.71, compared with a loss of $1.75 a year earlier. Adjusted diluted EPS rose 21.4% to $4.66.

For fiscal 2026, which ended Sept. 30, revenue grew 5.0% to $337.4 billion, GAAP diluted EPS rose 125.5% to $17.95, and adjusted EPS increased 12.3% to $17.97.

OneOncology lifts margins

Gross profit climbed 21.9% to $3.6 billion in the quarter, and gross margin widened 55 basis points to 4.08% of revenue. Cencora credited the February 2026 acquisition of OneOncology, partly offset by higher sales of lower-margin GLP-1 drugs.

"Fiscal 2026 was a pivotal year for Cencora," said President and CEO Robert Mauch, citing the OneOncology deal and a sharper portfolio focus.

Fiscal 2027 outlook and new segments

Cencora expects fiscal 2027 adjusted EPS of $19.40 to $19.75, revenue growth of 3% to 5% and adjusted operating income growth of 4% to 6%.

Starting in the first quarter of fiscal 2027, the company will report three segments: Pharmaceutical Distribution and Services, Specialty Pharmaceutical and Provider Services, and Other. It expects the specialty segment's revenue to grow 9% to 14% and its operating income to grow 18% to 21% next year.

Cencora reaffirmed long-term targets of 7% to 10% adjusted operating income growth and 10% to 14% adjusted EPS growth, with mid-single-digit operating income growth targeted for distribution and mid-teens growth for specialty.

Dividend

The board declared a quarterly dividend of $0.66 per share, up from $0.60, payable Nov. 30, 2026, to holders of record on Nov. 13.

By the numbers

Q4 revenue: $88.4 billion, up 5.5%
Q4 adjusted EPS: $4.66, up 21.4%
FY2026 adjusted EPS: $17.97, up 12.3%
FY2027 adjusted EPS guidance: $19.40 to $19.75
Quarterly dividend: $0.66, up 10%

Sources

Cencora Form 8-K with fiscal fourth-quarter 2026 earnings release, filed Nov. 4, 2026 (accession 0001140859-26-000038)

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