May 21 (Reuters) – U.S. drug distributor Cencora on Thursday raised the lower end of its fiscal 2026 earnings forecast citing recent share repurchases, and also approved a new $2 billion stock buyback plan.
• It now sees adjusted earnings per share of $17.70 to $17.90 for fiscal 2026, compared with its earlier view of $17.65 to $17.90.
• The revised forecast follows share repurchases completed in May, which Cencora said were in line with its plan to buy back $1 billion of stock by the end of calendar 2026.
• Separately, Cencora’s board authorized a new program to repurchase up to $2 billion of additional shares, subject to market conditions.
• Earlier this month, the company cut its revenue growth forecast on slower U.S. sales, while raising its annual adjusted profit forecast to $17.65 to $17.90 per share from $17.45 to $17.75 per share.
• As of May 21, Cencora had about $382 million remaining under its existing buyback program approved in May 2024.
• The company said it will discuss the updated fiscal 2026 outlook in upcoming investor meetings.
(Reporting by Sahil Pandey in Bengaluru; Editing by Shailesh Kuber)
