Cencora guides fiscal 2027 profit up 8% to 10% and agrees to buy American Oncology Network

Fourth-quarter earnings per share of $4.66 beat expectations by $0.03, though revenue of $88.35bn fell short of the $88.91bn expected.

Cencora expects fiscal 2027 adjusted diluted earnings per share of $19.40 to $19.75, growth of 8% to 10% from $17.97 in fiscal 2026. It has also agreed to buy American Oncology Network, a physician-led network of more than 350 oncology providers across 21 states.

Fiscal 2026 came in above the "at least" $17.90 that Cencora gave in its earlier update, so the new range is set against a higher base. The deal is valued at $2.4bn in enterprise value and widens the company's oncology platform. Evercore estimates preliminarily that it will dilute fiscal 2027 adjusted EPS by $0.02. If that holds, the fiscal 2027 range has to absorb the cost, and the gain comes only in fiscal 2028 and 2029.

The quarter itself was mixed. EPS beat by $0.03, while revenue missed the $88.91bn forecast. Chief executive Robert Mauch called fiscal 2026 a pivotal year. He said the OneOncology acquisition and a sharpened portfolio give Cencora momentum heading into fiscal 2027.

Cencora also raised its quarterly dividend 10% to $0.66 a share from $0.60, payable November 30, 2026.