Cencora Announces Common Share Repurchase From Walgreens Boots Alliance and Raises Fiscal 2024 Guidance
May 22 2024 - 5:44PM
Business Wire
Cencora, Inc. (NYSE: COR) today announced that it has agreed to
repurchase shares of its common stock from Walgreens Boots Alliance
Holdings LLC in the amount of approximately $400 million in a
private transaction.
Cencora is also raising its fiscal year 2024 adjusted diluted
earnings per share guidance to $13.35 to $13.55, up from the
previous range of $13.30 to $13.50, to reflect a lower weighted
average diluted share count, partially offset by higher net
interest expense due to lower investment balances as a result of
cash being used for share repurchases. This transaction is an
example of the Company’s opportunistic approach to share
repurchases and the Company will now have completed approximately
$550 million of share repurchases in the month of May.
About Cencora
Cencora is a leading global pharmaceutical solutions
organization centered on improving the lives of people and animals
around the world. We partner with pharmaceutical innovators across
the value chain to facilitate and optimize market access to
therapies. Care providers depend on us for the secure, reliable
delivery of pharmaceuticals, healthcare products, and solutions.
Our 46,000+ worldwide team members contribute to positive health
outcomes through the power of our purpose: We are united in our
responsibility to create healthier futures. Cencora is ranked #11
on the Fortune 500 and #24 on the Global Fortune 500 with more than
$250 billion in annual revenue.
Cencora’s Cautionary Note Regarding
Forward-Looking Statements
Certain of the statements contained in this press release,
including, without limitation, those regarding the Company’s
updated adjusted diluted earnings per share guidance, are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended (the “Securities
Exchange Act”). Words such as “aim,” “anticipate,” “believe,”
“can,” “continue,” “could,”, “estimate,” “expect,” “intend,” “may,”
“might,” “on track,” “opportunity,” “plan,” “possible,”
“potential,” “predict,” “project,” “seek,” “should,” “strive,”
“sustain,” “synergy,” “target,” “will,” “would” and similar
expressions are intended to identify forward-looking statements,
but the absence of these words does not mean that a statement is
not forward-looking. These statements are based on management’s
current expectations and are subject to uncertainty and changes in
circumstances and speak only as of the date hereof. These
statements are not guarantees of future performance and are based
on assumptions and estimates that could prove incorrect or could
cause actual results to vary materially from those indicated. A
more detailed discussion of the risks and uncertainties that could
cause our actual results to differ materially from those indicated
is included in the “Risk Factors” and “Management’s Discussion and
Analysis” sections in the Company’s Annual Report on Form 10-K for
the fiscal year ended September, 30, 2023 and elsewhere in that
report and (ii) other reports filed by the Company pursuant to the
Securities Exchange Act. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, except as
required by the federal securities laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240522040029/en/
Bennett S. Murphy Senior Vice President, Head of
Investor Relations & Treasury 610-727-3693
Bennett.Murphy@cencora.com
Cencora (NYSE:COR)
Historical Stock Chart
From Jul 2024 to Aug 2024
Cencora (NYSE:COR)
Historical Stock Chart
From Aug 2023 to Aug 2024