Cencora's CFO Cleary to retire, shares down

Shares of drug distributor Cencora COR.N fall 3.4% to $334.01

Cencora says James Cleary will retire as Chief Financial Officer on June 30

Says it has engaged an executive search firm to identify and evaluate potential successors from internal and external candidates

Adds Cleary will assist in the search process and serve as an adviser through the end of 2026

We view his continued involvement through the transition period as a positive, supporting continuity and execution - Evercore ISI

*His retirement comes as a surprise to us, but with Cleary staying in an advisory capacity through the end of 2026, we think he will be able to work with his successor ahead of providing FY27 guidance in the fall - J.P. Morgan

Cencora reaffirms annual adjusted EPS forecast of $17.45 to $17.75

Analysts, on average, expect annual adjusted EPS of $17.62 per share, according to data compiled by LSEG

Including session's moves, stock down 1.4% YTD