Cardinal Health, Inc.

Hello and welcome to the third quarter fiscal year 2025 Cardinal Health Incorporated Earnings Conference Call. My name is George and I'll be your coordinator for today's event. Please note this conference is being recorded and for the duration of the call, your lines will be in listen-only mode. However, you will have the opportunity to ask questions towards the end of the presentation and this can be done by pressing star 1 on your telephone keypad to ask your question. And can you also please limit yourselves to one question each to allow the maximum people to ask a question? If it requires assistance at any point, please press star zero and you will be connected to an operator. I'd like to now turn the call over to your host today, Mr. Matt Simms, Vice President of Investor Relations, to begin today's conference. Thank you.

Welcome to this morning's Cardinal Health third quarter fiscal 25 earnings conference call. And thank you for joining us. With me today are Cardinal Health CEO, Jason Haller, and our CFO, Aaron Ault. You can find this morning's earnings press release and investor presentation on the investor relations section of our website at ir.cardinalhealth.com. Since we will be making forward-looking statements today, let me remind you that the matters addressed in these statements are subject to risks and uncertainties that could cause our 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 description of these risks and uncertainties. Please note that during our discussion today, the comments will be on a non-GAAP basis and less specifically called out as GAAP. GAAP to non-GAAP reconciliations for all relevant periods can be found in the supporting schedules attached to our press release. For the Q&A portion of today's call, we kindly ask that you limit questions to one per participant so that we can try and give everyone an opportunity. With that, I will now turn the call over to Jason.

Thank you and good morning, everyone. Today, we reported strong third quarter results which demonstrate the continued acceleration of the momentum we've established in recent years, the underlying strength of our business, and the effectiveness of our strategy. In today's increasingly complex macro environment, our role as healthcare's crucial link is more important than ever. We bridge the clinical and operational aspects of healthcare, delivering end-to-end solutions that touch every part of the care continuum. Customers and manufacturer partners confidently rely on us to safely, securely, and efficiently deliver essential products and services to the right place and time. Our team continuously navigates evolving market conditions and regulatory complexities within the healthcare industry, allowing us to act with urgency and flexibility to best serve customers and patients. We create tremendous value for our partners through the breadth and scale of our offerings. With our strong competitive positioning and the positive trends underpinning our results, our business has proven to be incredibly resilient. It should also be noted that while our industry relies upon an efficient and effective global supply chain, Cardinal Health has a strong U.S. footprint with over 99% of our enterprise revenue generated here. Roughly 95% of our segment profit is generated from four of our five businesses, which are, as yet, largely unimpacted by tariffs or other regulatory actions. And we have invested approximately $7 billion in the last two years in the United States, including recent acquisitions, expanded domestic manufacturing, new distribution nodes, technology, and automation, which has directly supported the delivery of our country's healthcare. As always, we proactively monitor proposed legislation and regulation, and as I said before, we continue to support the overarching goals of increasing patient access, affordability, and innovation in healthcare. Moving on to our results, our performance this quarter was driven by strong utilization trends and execution across our most significant business, pharmaceutical and specialty solutions, and our three growth businesses reported in other, which are becoming an increasingly important part of our overall mix. Most notably, the broad-based performance reflected profit growth from all five of our operating segments, an indication that our relentless focus on advancing our strategic priorities is delivering real, measurable impact. It's also worth mentioning, when looking at the strong pharma results, we are seeing the first positive benefits from the acquisitions of GI Alliance and Integrated Oncology Network, both of which in early days are performing consistent with our expectations. And within our higher margin other businesses, at-home solutions, nuclear, and Opti-freight, we see continued potential to expand our capabilities and create additional value. We are pleased to complete the acquisition of Advanced Diabetes Supply Group at the beginning of April and would like to extend a warm welcome to the ADSG team. As a result, we are pleased to again raise our fiscal 25 EPS guidance and have great confidence in our ability to generate sustainable long-term growth for the future. In summary, we are encouraged by the performance this quarter, which validates the strength of our strategy, the discipline of our teams, and our conviction and our trajectory heading into the fourth quarter. With that, I'll turn it over to Aaron.