Cencora, Inc.

Hello, everyone, and thank you for joining the Sankora Fiscal 2025 Fourth Quarter and Four-Year Results Call. My name is Lucy, and I'll be coordinating your call today. During the presentation, you can register a question by pressing star followed by one on your telephone keypad. If you change your mind, please press star followed by two. It is now my pleasure to hand over to your host, Bennett Murphy, Senior Vice President of Investor Relations, to begin. Please go ahead.

Thank you. Good morning, good afternoon, and thank you all for joining us for this conference call to discuss Sincora's fiscal 2025 fourth quarter and full year results. I am Ben Murphy, Senior Vice President, Investor Relations and Enterprise Productivity. Joining me today are Bob Motch, President and CEO, and Jim Cleary, Executive Vice President and CFO. On today's call, we will 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.sincora.com. We've also posted a slide presentation to accompany today's press release on our investor website. During this conference call, we will discuss 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 10Q. Sancora 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 limit your questions to one per participant in order for us to get to as many participants as possible within the hour. With that, I will turn the call over to Bob.

Thank you, Bennett. Hi, everyone, and thank you for joining Sancora's fiscal 2025 fourth quarter earnings call. I'll begin today by expressing my gratitude to our team members. who power our results, advance our strategy, and lead with purpose. In fiscal 2025, Sencor achieved strong financial performance with adjusted operating income and adjusted diluted EPS growth of 16%, driven by our strategic positioning and specialty, thoughtful investments to enhance our solutions in fast-growing areas of the market, and continued strong pharmaceutical utilization trends. The results our team members deliver demonstrate the unique value we provide to our leading customers, both pharma manufacturers and providers, as an end-to-end healthcare services company. As a reflection of our confidence in continued market growth, the strength and positioning of our business, our successful investments in key growth areas like specialty, and conviction in our continued execution, we are pleased to be raising our long-term guidance for adjusted operating income growth to 6% to 9%, and our adjusted EPS growth to 9% to 13%. During the year, we made considerable progress in strengthening our role as a leading healthcare services provider through our discipline focus. Our strategy going forward centers on three growth priorities, leading with market leaders, enhancing patient access to pharmaceuticals, and strengthening our position in specialty. as well as four strategic drivers enabling our execution. First, prioritizing growth-oriented investments. We're committed to advancing our leadership in the healthcare industry, which requires us to invest significantly, both organically and inorganically, in the areas that will strengthen our strategic positioning and drive long-term value. Second, improving the customer experience by leveraging advanced data analytics and technologies. We are enhancing how we utilize technology and analytics to expand our services and solutions, while also generating actionable insights to inform our industry partners. Third, driving a best-in-class talent experience. Our people are our most important asset. At Sankora, we're committed to empowering our talent with the skills and experiences they need to build meaningful careers as our industry and work continue to evolve. And fourth, identifying ongoing processing capability improvements. We're focused on enhancing our productivity, becoming even more integrated and efficient in serving the dynamic pharmaceutical supply chain. Today, I want to highlight the intersection of strengthening our position and specialty and how we are strategically prioritizing growth-oriented investments. I'll begin with how Sancor is prioritizing growth-oriented investments to fuel our long-term growth. Sancor is making investments that align with our pharmaceutical-centric strategy and elevate our offering. And we regularly evaluate our portfolio to ensure we are focusing on areas that advance our long-term vision. As announced this morning, we undertook a thorough review of our portfolio as part of our approach to prioritize growth-oriented investments. This review led us to sharpen our focus for the businesses included in both our U.S. and international healthcare solution segments. We identified specific areas of the business that do not align as closely with our strategy going forward, specifically our animal health business, MWI, our legacy U.S. hub services, our equity investment in Pro Farma in Brazil, and certain components of PharmaLex. As a result, we're evaluating strategic alternatives for these businesses and are grouping them as other in our financial reporting to provide additional transparency for our investors. By evaluating alternatives for these businesses, we will identify the right long-term partners to help the businesses within other capitalize on the strength of their offerings While we focus on executing against that core strategy and our remaining businesses, we believe this prioritization will allow us to effectively deploy resources against our growth priorities. For example, strengthening our position in specialty, the acquisition of retina consultants of America. RCA is a recent investment that reflects our commitment to strengthening our leadership and specialty. Since the acquisition closed earlier this year, RCA has continued to demonstrate the unique value the platform provides for physicians, while our joint teams have been identifying areas where we can augment the RCA value proposition. The MSO relationship is key for providers. With RCA now a part of SYNCORA and our pathway to full ownership of One Oncology, we are excited about our ability to drive growth while contributing positively to patient outcomes by increasing time physicians can spend with patients, enhancing access to innovative treatments through renowned research capabilities, and informing best practices in community-based care. We're also prioritizing internal investments. And in order to continue to lead with market leaders, Sancora is expanding and enhancing our supply chain infrastructure to support our customers' continued growth and innovation. This morning, we were proud to announce significant investments totaling $1 billion through 2030 to amplify our distribution network, including opening a second national distribution center and expanding our existing specialty distribution capacity. These investments will allow us to better support our customers with additional cold chain storage as the specialty market grows. This commitment builds on our track record of successful investments to expand our infrastructure and will enhance the resiliency and efficiency of our supply chain to ensure we are well positioned to handle the rising demand and complexity of pharmaceutical treatments. We're confident we have the right culture and strategy to ensure we continuously strengthen our business to support growth. I'll now turn the call to Jim to discuss our fourth quarter and fiscal 2025 results, fiscal 2026 guidance, and CENCOR's updated long-term guidance.