Cardinal Health, Inc. (NYSE:CAH) BofA Securities 2024 Health Care Conference May 14, 2024 11:00 AM ET Company Participants Jason Hollar - Chief Executive Officer Aaron Alt - Chief Financial Officer Conference Call Participants Unidentified Analyst CEO, Jason Hollar and CFO, Aaron Alt. First off, thank you both for joining us today. Now, Jason, you've been with the company since COVID began and we're finally entering a more normalized operating environment. And I guess as we sit here today, what are you most ...

Cardinal Health (CAH) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this prescription drug distributor have returned -10% over the past month versus the Zacks S&P 500 composite's -1.6% change. The Zacks Medical - Dental Supplies industry, to which Cardinal belongs, has lost 4.9% over this period. Now the key question is: Where could the stock be headed in the near te ...

For the quarter ended March 2024, Cardinal Health (CAH) reported revenue of $54.91 billion, up 8.8% over the same period last year. EPS came in at $2.08, compared to $1.74 in the year-ago quarter.The reported revenue represents a surprise of -1.63% over the Zacks Consensus Estimate of $55.82 billion. With the consensus EPS estimate being $1.95, the EPS surprise was +6.67%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

Q3 FY24 Earnings Cardinal Health, Inc. May 2, 2024 ...

Cardinal Health, Inc. (NYSE:CAH) Q3 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants Matt Sims - VP, IR Jason Hollar - CEO Aaron Alt - CFO Conference Call Participants Lisa Gill - JP Morgan Michael Cherny - Leerink Partners George Hill - Deutsche Bank Allen Lutz - Bank of America Kevin Caliendo - UBS Eric Percher - Nephron Research Stephanie Davis - Barclays Eric Coldwell - Baird Elizabeth Anderson - Evercore ISI Stephen Baxter - Wells Fargo Lucas Romanski - TD Cowen Daniel Grosslig ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |--------------------------------------------------------------------------------------------|-----------------------------------| | For the transition period from | __ ...

Revenue Growth - Revenue increased 9% to $54.9 billion in Q3 FY24 compared to Q3 FY23[1][3] - Revenue for Q3 2024 increased by 9% to $54.911 billion compared to $50.487 billion in Q3 2023[20] - Year-to-date revenue for 2024 increased by 10% to $167.119 billion compared to $151.559 billion in 2023[20] - Pharmaceutical and Specialty Solutions segment revenue increased 9% to $50.7 billion in Q3 FY24[5] - Other segment revenue increased 14% to $1.2 billion in Q3 FY24[8] - Pharmaceutical and Solutions segment revenue grew 9% YoY to $50,651 million in Q3 2024[26] - Global Medical Products and Distribution segment revenue grew 4% YoY to $3,113 million in Q3 2024[26] - Year-to-date revenue for Pharmaceutical and Solutions segment grew 11% YoY to $154,524 million[27] - Year-to-date revenue for Global Medical Products and Distribution segment grew 1% YoY to $9,264 million[27] Non-GAAP Financial Performance - Non-GAAP operating earnings increased 10% to $666 million in Q3 FY24[1][3] - Non-GAAP diluted EPS increased 20% to $2.08 in Q3 FY24[1][3] - Fiscal year 2024 non-GAAP EPS guidance raised to $7.30 to $7.40[1][9] - Preliminary fiscal year 2025 non-GAAP EPS guidance of at least $7.50[1][10] - Non-GAAP net earnings for Q3 2024 were $509 million, a 14% increase YoY[32] - Non-GAAP diluted EPS for Q3 2024 was $2.08, a 20% increase YoY[32] - Non-GAAP operating earnings for the nine months ended March 31, 2024, were $1,799 million, with a 20% effective tax rate, resulting in a diluted EPS of $5.62, a 33% increase year-over-year[35] - Non-GAAP operating earnings for the nine months ended March 31, 2023, were $1,497 million, with a 21% effective tax rate, resulting in a diluted EPS of $4.24[35] Segment Performance - Pharmaceutical and Specialty Solutions segment profit growth outlook updated to 8.5% to 9.5% for FY24[9] - Global Medical Products and Distribution segment profit increased $66 million to $20 million in Q3 FY24[6][7] - Global Medical Products and Distribution segment profit expected to be ~$175 million in FY25[11] - Impairment charges for the GMPD segment were $90 million in Q3 2024 and $671 million year-to-date[20] - The company recognized a cumulative pre-tax goodwill impairment charge of $671 million related to the GMPD segment for the nine months ended March 31, 2024, with an estimated net tax benefit of $56 million[35] - The company recognized a cumulative pre-tax goodwill impairment charge of $863 million related to the GMPD segment for the nine months ended March 31, 2023, with a net tax benefit of $68 million[35] GAAP Financial Performance - Net earnings for Q3 2024 decreased by 25% to $259 million compared to $347 million in Q3 2023[20] - GAAP net earnings for Q3 2024 were $258 million, a 25% decrease YoY[31] - GAAP diluted EPS for Q3 2024 was $1.05, a 22% decrease YoY[31] - GAAP operating earnings for the nine months ended March 31, 2024, were $835 million, with a 42% effective tax rate, resulting in a diluted EPS of $2.49[35] - GAAP operating earnings for the nine months ended March 31, 2023, were $590 million, with a 36.7% effective tax rate, resulting in a diluted EPS of $1.23[35] Cash Flow and Liquidity - Cash and equivalents decreased to $3.718 billion as of March 31, 2024, from $4.043 billion as of June 30, 2023[22] - Net cash provided by operating activities in Q3 2024 was -$49 million, compared to $1,361 million in Q3 2023[25] - GAAP net cash provided by operating activities for the nine months ended March 31, 2024, was $1,685 million, compared to $1,981 million for the same period in 2023[37] - Non-GAAP adjusted free cash flow for the nine months ended March 31, 2024, was $2,128 million, compared to $2,090 million for the same period in 2023[37] - The company excluded $246 million in payments related to litigation recoveries/charges from non-GAAP adjusted free cash flow for the third quarter of 2024[37] Balance Sheet Changes - Total current assets increased to $35.734 billion as of March 31, 2024, from $33.833 billion as of June 30, 2023[22] - Total liabilities increased to $45.880 billion as of March 31, 2024, from $43.417 billion as of June 30, 2023[23] - Accounts payable increased to $32.089 billion as of March 31, 2024, from $29.813 billion as of June 30, 2023[23] - Total shareholders' deficit increased to $3.262 billion as of March 31, 2024, from $2.851 billion as of June 30, 2023[23] Gross Margin and Operating Earnings - Gross margin for Q3 2024 increased by 9% to $1.947 billion compared to $1.785 billion in Q3 2023[20] - Non-GAAP gross margin excludes LIFO charges/(credits)[44] - Non-GAAP SG&A excludes state opioid assessment related to prior fiscal years and shareholder cooperation agreement costs[44] - Non-GAAP operating earnings exclude LIFO charges/(credits), state opioid assessment, shareholder cooperation agreement costs, restructuring and employee severance, amortization and other acquisition-related costs, impairments and (gain)/loss on disposal of assets, net, and litigation (recoveries)/charges, net[44] Non-GAAP Adjustments and Definitions - The company's non-GAAP financial measures exclude items such as LIFO charges, state opioid assessments, shareholder cooperation agreement costs, restructuring costs, and acquisition-related costs to provide a clearer view of ongoing business performance[39] - Segment Profit is calculated as segment revenue minus segment cost of products sold and segment distribution, selling, general and administrative expenses[44] - Segment Profit margin is derived by dividing segment profit by segment revenue[44] - Non-GAAP earnings before income taxes exclude LIFO charges/(credits), state opioid assessment, shareholder cooperation agreement costs, restructuring and employee severance, amortization and other acquisition-related costs, impairments and (gain)/loss on disposal of assets, net, litigation (recoveries)/charges, net, and loss on early extinguishment of debt[44] - Non-GAAP net earnings attributable to Cardinal Health, Inc. exclude LIFO charges/(credits), state opioid assessment, shareholder cooperation agreement costs, restructuring and employee severance, amortization and other acquisition-related costs, impairments and (gain)/loss on disposal of assets, net, litigation (recoveries)/charges, net, and loss on early extinguishment of debt, each net of tax[44] - Non-GAAP effective tax rate adjusts for the tax impacts of LIFO charges/(credits), state opioid assessment, shareholder cooperation agreement costs, restructuring and employee severance, amortization and other acquisition-related costs, impairments and (gain)/loss on disposal of assets, net, litigation (recoveries)/charges, net, and loss on early extinguishment of debt[44] - Non-GAAP diluted earnings per share attributable to Cardinal Health, Inc. is calculated by dividing non-GAAP net earnings attributable to Cardinal Health, Inc. by diluted weighted-average shares outstanding[44] - Non-GAAP adjusted free cash flow is net cash provided by/(used in) operating activities less payments related to additions to property and equipment, excluding settlement payments and receipts related to litigation (recoveries)/charges, net, or other significant and unusual or non-recurring cash payments or receipts[44]

Revenue increased 9% to $54.9 billion GAAP1 operating earnings were $367 million; GAAP diluted EPS was $1.05 Non-GAAP operating earnings increased 10% to $666 million; non-GAAP diluted EPS increased 20% to $2.08 Fiscal year 2024 non-GAAP EPS guidance2 raised and narrowed to $7.30 to $7.40, from $7.20 to $7.35 Company provides preliminary fiscal year 2025 non-GAAP EPS guidance of at least $7.50 DUBLIN, Ohio, May 2, 2024  /PRNewswire/ -- Cardinal Health (NYSE: CAH) today reported third quarter fiscal year 2 ...

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Cardinal Health, Inc. (CAH) is scheduled to report third-quarter fiscal 2024 results on May 2, before the opening bell.In the last reported quarter, the company delivered an earnings surprise of 16.67%. CAH’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 15.64%.Q3 EstimatesFor the fiscal third quarter, the consensus mark for earnings is pegged at $1.95 per share, indicating an improvement of 12.1% from the prior-year quarter’s reported fi ...