Cencora, Inc.

Hello and welcome everyone to the CENCORA Q1 fiscal year 2025 earnings call. My name is Becky and I'll be your operator today. During the presentation, you can register a question by pressing star followed by one on your keypad. If you change your mind, please press star followed by two. Should you have any issues, please press star followed by zero for operator support. I'll now hand over to your host, Head of Investor Relations, Bennett Murphy, to begin. Please go ahead.

Thank you. Good morning. Good afternoon. Thank you all for joining us for this conference call to discuss CINCORA's fiscal 2025 first quarter results. I'm Ben Murphy, Senior Vice President, Head of Investor Relations and Treasury. Joining me today are Bob Motch, President and CEO, and Jim Cleary, Executive Vice President and CFO. On today's call, we'll be discussing non-GAAP financial measures. Reconciliations of these measures to GAAP are provided in today's press release, which is available on our website at investor.cincora.com. We've also posted a slide presentation to accompany today's press release on our investor website. During this conference call, we will make forward-looking statements about our business and financial expectations on an adjusted, non-GAAP basis, including, but not limited to, EPS, operating income, and income taxes. Forward-looking statements are based on management's current expectations and are subject to uncertainty and change. For a discussion of key risks and assumptions, we refer you to today's press release and our SEC filings, including our most recent 10-K. Sencor assumes no obligation to update any forward-looking statements, and this call cannot be rebroadcast without the express permission of the company. You will have an opportunity to ask questions after today's remarks by management. We ask that you eliminate your questions to one per participant in order for us to get to as many participants as possible within the hour. With that, I'll turn the call over to Bob. Thank you, Bennett.

Hi, everyone, and thank you for joining Sencor's fiscal 2025 first quarter earnings call. Before we begin, I want to thank the 40-plus thousand global SYNCORA team members. It's because of their purpose-driven approach, expertise, and dedication to meeting the needs of customers and patients worldwide that Jim and I have the pleasure of reporting strong Q1 results and updated guidance today. SYNCORA delivered a strong start to our fiscal year with revenue growth of 13% and adjusted EPS growth of 14%. We are also excited to share that due to the strength and execution in our U.S. business, we are raising guidance for the fiscal year. We benefit from our position as a leading healthcare solutions provider with a pharmaceutical-centric strategy and a purpose-driven culture, which enables us to capitalize on positive industry trends and innovation. Today, I will emphasize three areas of progress in executing our strategy and driving performance in the quarter. First, advancing our leadership and specialty. where we took important steps forward. Second, driving efficiency and productivity through advanced technology and expert teams across the enterprise. And third, executing with a customer-centric mindset as we continue to collaborate and innovate with our customers throughout the supply chain. I'll begin with advancing our leadership and specialty. Our leadership supporting specialty providers is a key differentiator and growth driver for Sancora. and we've evolved our service offerings over time. Over decades, we've deepened our relationships with our specialty provider customers with the expansion of specialty GPOs and other capabilities. The logical next step is through managed service organizations. This is in line with our long-term commitment to support community providers and extension of that work. After expending significant time understanding the MSO business through our investment in One Oncology, we announced the acquisition of RCA, Retina Consultants of America, and we are incredibly happy to have completed that acquisition on January 2nd. RCA is a leading retina MSO, differentiated by its leadership team, clinical excellence, premier physician partner practices, and positioning at the forefront of retina innovation through its clinical research capabilities. This acquisition like our investment in one oncology fits squarely into our strategy and growth. By expanding our leadership and specialty and a high growth pharmaceutical centric segment. Building on our services for our customers and positioning as well in a medical specialty that has seen significant innovation, while it's early days we're excited about what we believe our combined organizations will accomplish together. Next. is driving efficiency and productivity through advanced technology and expert teams. We are focused on continuously enhancing our capabilities and increasing efficiency through advanced technology and collaboration across our global teams. Across the organization, we are working to streamline operations, optimize business processes, and unlock enterprise-wide value. In the quarter, we work throughout our business to upgrade systems, to safeguard the resiliency of our infrastructure and ensure we maintain best-in-class standards. This allows us to streamline our operations for enhanced customer satisfaction. All of this, aligned with our digital transformation strategy, focuses on enhancing customer experience and accelerating decision-making as we leverage global talent and capabilities to enhance efficiency, scalability, and innovation. all while meeting the needs of our partners, both now and in the future. And finally, executing with a customer-centric mindset and innovating with our customers. At Sencora, we lead with market leaders. Our portfolio of customers is second to none, driving innovation through drug development, elevating patient care and access through their patient-first approaches. Sencora team members with world-class expertise or working in cross-functional teams, collaborating with customers to meet their evolving needs. In the quarter, we were able to display solutions created as a result of working closely with our customers at our inaugural product showcase. Our product showcase enabled us to demonstrate advanced solutions in areas like inventory planning and management, specialty GPO, as well as cell therapy and gene therapy solutions. Another example. is our enterprise leadership team just returned from the United Kingdom, visiting elements of our international operations, spending time on the ground with our leaders, and engaging with several top biopharma customers. Our global footprint and expertise set us apart and gives us the unique ability to combine local expertise with global infrastructure, best meeting the needs of biopharma companies. We are focusing on building on our strengths and value proposition to pharma, with our services like market access, regulatory, pharmacovigilance, and our unparalleled 3PL and specialty logistics networks. This differentiated approach is strategically important to our biopharma customer relationships over the long term, and it's how we capitalize on growth of specialty products in the European market, which has a different structure than in the U.S., but is similar in that our foundation and pharmaceutical distribution and portfolio of services enables us to support pharmaceutical innovation while growing our higher growth, higher margin services. In closing, and before I hand it over to Jim, Sencor's performance is powered by an amazing global workforce who are advancing our leadership and specialty, driving efficiency and productivity through advanced technology and expert teams, and executing with a customer-centric mindset as we continue to collaborate and innovate with our customers. Looking ahead, we will maintain focus, executing against our strategy, and amplifying the areas that are fundamental to our success, driving increased value for all our stakeholders. Thank you once again to all Sencora team members. And with that, I'll turn the call over to Jim for an in-depth review of our first quarter results and our updated fiscal 2025 guidance.