Cencora Inc. (COR), a pharmaceutical company, announced that it has raised the lower end of its fiscal 2026 adjusted earnings outlook. Further, the company said its Board of Directors, on May 20th, authorized additional up to $2.0 billion share repurchase program.
Under the new guidance, the company now expects adjusted earnings per share to be in the range of $17.70 to $17.90, up from the previous range of $17.65 to $17.90.
According to the firm, the outlook was updated as a result of recent opportunistic share repurchases, which were completed in May in line with its expectation of repurchasing $1 billion of the shares by the year-end.
As of May 21, the company had $382 million remaining under its share repurchase program previously authorized in May 2024.
In the after-hours trading on the NYSE, the shares gained 1.3% to $268.82, after closing Thursday's regular trading 0.3% higher.
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