Premier, Inc. (NASDAQ:PINC) Q3 2023 Earnings Conference Call May 2, 2023 8:00 AM ET

Company Participants

Angie McCabe - Vice President of Investor Relations

Mike Alkire - President and Chief Executive Officer

Craig McKasson - Chief Administrative and Financial Officer

Conference Call Participants

Kevin Caliendo - UBS Securities

Michael Cherny - Bank of America

Tiffany Yuan - Barclays

Eric Coldwell - Baird

Richard Close - Canaccord Genuity

Jessica Tassan - Piper Sandler

Jack Wallace - Guggenheim Securities

A.J. Rice - Credit Suisse

Dolph Warburton - Nephron Research

Stephanie Davis - SVB Securities

Operator

Good morning and welcome to Premier's Fiscal 2023 Third Quarter Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Angie McCabe, Vice President, Investor Relations. Please, go ahead.

Angie McCabe

Thank you. Welcome to Premier's fiscal 2023 third quarter conference call. Our speakers this morning are Mike Alkire, Premier's President and CEO; and Craig McKasson, our Chief Administrative and Financial Officer.

Before we get started, I want to remind everyone that our earnings release and the supplemental slides accompanying this conference call are available in the Investors section of our website at investors.premierinc.com.

Please be advised that Management's remarks today contain certain forward-looking statements, and actual results could differ materially from those discussed today. These forward-looking statements speak as of today, and we undertake no obligation to update them. Factors that might affect future results are discussed in our filings with the SEC, including our most recent Form 10-K and our Form 10-Q for the quarter, which we expect to file soon. We encourage you to review these detailed Safe Harbor and risk factor disclosures.

Also, where appropriate, we will refer to adjusted or other non-GAAP financial measures, such as free cash flow to evaluate our business. Reconciliations of non-GAAP financial measures to GAAP financial measures are included in our earnings release, in the appendix of the supplemental slides accompanying this presentation and in our earnings Form 8-K, which we expect to furnish to the SEC soon.

I will now turn the call over to Mike Alkire. Mike?

Mike Alkire

Thank you, Angie. Good morning everyone, and thank you for joining us today. Early this morning we reported fiscal 2023 third quarter results and provided an update to our fiscal 2023 guidance. Our third quarter results and revised full year guidance largely reflects three factors; one, our progress at advancing our longer-term strategy; two, an ongoing impact for macroeconomic headwinds; and three, healthcare market dynamics.