Cardinal Health, Inc.

Good day and welcome to the fourth quarter FY 2023 Cardinal Health Inc earnings conference call. Please note this conference is being recorded and for the duration of the call, your lines will be on listen only. However, you will have the opportunity to ask questions at the end of the call. This can be done by pressing star 1 on your telephone keypad to register your question. I would now like to hand the call over to Kevin Moran, Vice President of Investor Relations. Please go ahead.

Good morning and welcome. Today we will discuss Cardinal Health's fourth quarter and fiscal year-end 2023 results, along with our outlook for fiscal year 2024. You can find today's press release and earnings presentation on the IR section of our website at ir.cardinalhealth.com. Joining me today are Jason Holler, our Chief Executive Officer, and Aaron Ault, our Chief Financial Officer. During the call, we will be making forward-looking statements. The matters addressed in the statements are subject to the risks and uncertainties that could cause actual results to differ materially from those projected or implied. Please refer to our SEC filings and the forward-looking statement slide at the beginning of our presentation for a full description of these risks and uncertainties. Please note that during the discussion today, all our comments will be on a non-GAAP basis, unless they are specifically called out as GAAP. Gap to non-gap reconciliations for all relevant periods can be found in the schedules attached to our press release. For the Q&A portion of today's call, we kindly ask to limit yourself to one question so that we can try and give everyone in the queue an opportunity. With that, I'll now turn the call over to Jake.

Thanks, Kevin, and good morning, everyone. Fiscal 23 was an inflection point for Cardinal Health with improved performance strong execution and notable progress against both our short and long-term plans. We delivered record financial performance, including our highest non-GAAP EPS ever, reflecting 14% growth from the prior year. We grew pharma segment profit an impressive 13% and generated $2.8 billion of adjusted free cash flow. And in medical, We drove significant sequential improvement in operating performance from a segment loss in the first quarter to over $80 million of segment profit in Q4. This year, we took decisive action to advance our three strategic imperatives, building upon the resiliency of our pharma segment, executing our medical improvement plan, and maximizing shareholder value creation. Consistent with what you heard at our June Investor Day, these results were achieved through our team's commitment to ruthlessly prioritize the core of our business, and to better serve our customers so they, in turn, can focus on caring for patients. We simplified how we operate by streamlining our organizational structure, exiting non-core product lines, and rationalizing our geographic and manufacturing footprints. We made key leadership changes and governance enhancements, adding talent and key positions across the enterprise and to our board. We formed and extended the business review committee tasked with evaluating our strategy, portfolio, operations, and capital deployments. On that note, we completed our review of the pharma segment, including announcements at Investor Day to further invest in our nuclear and precision health solutions business and launch our new Navista network supporting community oncologists, which I will discuss more later in my remarks. We recently closed our outcomes merger with BlackRock's transaction data systems, which we see as a big win for pharmacies and an important opportunity to accelerate the business's future growth. We also deployed capital responsibly with a continued eye on maximizing value And we are positioned with the financial flexibility to continue driving value for shareholders. At Investor Day, we provided preliminary guidance for fiscal 24. With a strong finish to the year and increased confidence as we look ahead, I'm pleased that we can raise our fiscal 24 outlook. Later in my remarks, I will share further details on our three strategic priorities. But first, let me hand it over to Aaron to walk you through our financial results and guidance.