COR Shareholder/Stockholder Letter Transcript:
2024
Summary
Annual
Report
Table of
contents
03
About Cencora
05
CEO letter
13
Financial highlights
14
Management team
15
Board of Directors
16
GAAP/Non - GAAP financial measures
18
Corporate information
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.
03
CEO
letter
04
To our shareholders
It is an honor to be the President and CEO of
Cencora. Thank you to the Board of Directors for
their trust and to Steve Collis for the seamless
hand - off and ongoing leadership and partnership
as Executive Chairman of the Board. Since assuming
the role of President and CEO of Cencora on October
1, 2024, I have been focused on furthering the
strengths that have been key to our past success
and investing to ensure we continue to be at the
forefront of innovation and advance our ability to
leverage data and analytics. We will lead with a
customer - centric approach, take on an enterprise powered mindset and focus on innovation, which
will ensure our differentiated value - proposition
remains intact and accelerates our position as a
leader in healthcare. We are well positioned with
our foundation in pharmaceutical distribution and
key commercialization capabilities that allow us to
provide differentiated and integrated solutions. I am
confident in the continued success of Cencora and
inspired by our team members pride in their work
and deep dedication to our purpose We are united
in our responsibility to create healthier futures.
In fiscal 2024, Cencora delivered robust financial
performance while enhancing our value to all
stakeholders by investing in our infrastructure,
deepening strategic customer partnerships,
leveraging data and analytics, and continuing
to build on our strength in Specialty.
Our pharmaceutical - centric strategy and
purpose - driven culture drive our continued
operational excellence and propel our strategic
progress to ensure we maintain best - in - class
customer and partner relationships, remain at the
forefront of innovation, and deliver efficiency to the
healthcare ecosystem and better outcomes for
patients and providers.
Delivering differentiated value
through our global healthcare
positioning
In fiscal 2024, Cencora grew its adjusted diluted
earnings per share by 15 percent to $13.76.
Consolidated revenue was $294 billion, representing
a 12 percent increase year - over - year, and adjusted
operating income increased by 11 percent to
$3.6 billion.
Our U.S. Healthcare Solutions segment operating
income grew 13 percent, showcasing the strength
of our position at the center of healthcare and
pharmaceutical - centric strategy that enable us to
capitalize on the strong utilization trends that are
driven by pharmaceutical innovation. Our robust
distribution infrastructure supported increased sales
of specialty products to physician practices and
health systems, increased sales to our largest
customers, and allowed us to capitalize on the
opportunity presented as COVID - 19 vaccines moved
into the commercial market.
In an effort to provide additional and useful information regarding Cencora s financial results and other financial information as determined by
generally accepted accounting principles (GAAP), certain information presented in this report includes non - GAAP information. A reconciliation
of that information to GAAP and other related information is available on pages 16 and 17 of this report.
05
1/23/2025 Letter Continued (Full PDF)