Premier, Inc. (NASDAQ:PINC) Q3 2022 Results Earnings Conference Call May 3, 2022 8:00 AM ET

Company Participants

Angie McCabe - VP, IR

Mike Alkire - President & CEO

Craig McKasson - Chief Administrative Officer &CFO

Conference Call Participants

Eric Percher - Nephron Research

A.J. Rice - Credit Suisse

Richard Close - Canaccord Genuity

Steven Valiquette - Barclays

Michael Cherny - Bank of America Merrill Lynch

Jessica Tassan - Piper Sandler

Jack Wallace - Guggenheim

Stephanie Davis - SVB Securities

Operator

Hello, and welcome to the Premier, Inc. Fiscal 2022 Third Quarter Results and Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, today's event is being recorded.

And now I would like to turn the conference over to Angie McCabe. Ms. McCabe, please go ahead.

Angie McCabe

Thank you, and welcome to Premier's fiscal 2022 third quarter 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 would like to remind you that our earnings release and the supplemental slides accompanying this conference call are available in the Investor Relations section of our website at investors.premierinc.com.

Our remarks today contain certain forward-looking statements, and actual results could differ materially from those discussed today. These forward-looking statements speak only 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 filings, including our detailed safe harbor and risk factor disclosures.

Also, where appropriate, we 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

Thanks, Angie. Good morning, everyone, and thank you for joining us today. As we expected, our third quarter results reflect the continued normalization of our direct sourcing revenue within our Supply Chain Services segment toward a pre-COVID-19 pandemic level.

Our Performance Services segment results were affected by the timing of revenue associated with enterprise analytics license agreements in the quarter, as compared with the prior year quarter.