AmerisourceBergen Corporation (ABC) Q2 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 4, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning or good afternoon all. Welcome to the AmerisourceBergen Corporation Fiscal 2022 Second Quarter Earnings Call. My name is Rajam, and I’ll be your operator today.I will now hand over to your host, Bennett Murphy, Head of Investor Relations to begin. So, Bennett please go ahead when you’re ready.

Bennett Murphy - Senior Vice President-IR

Thank you. Good morning, good afternoon, and thank you all for joining us for this conference call to discuss AmerisourceBergen’s Fiscal 2022 Second Quarter Results. I am Bennett Murphy, Senior Vice President, Investor Relations. Joining me today are Steve Collis, Chairman, 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.amerisourcebergen.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. AmerisourceBergen assumes no obligation to update any forward-looking statements, and this call cannot be rebroadcast without the express permission of the company.

You’ll have an opportunity to ask questions after today’s remarks by management. We ask that you limit your question to one per participant in order to for us to get through as many participants as possible within the hour.

With that, I’ll turn the call over to Steve.

Steve Collis - Chairman, President & CEO

Thank you, Bennett. Good morning and good afternoon to everyone on the call. Before we discuss our results for the quarter, I want to provide a brief update on opioid-related litigation. As previously disclosed on April 2, the comprehensive settlement agreement to settle a substantial majority of opioid lawsuits filed by state and local governmental entities became effective. 46 of 49 eligible states as one of the district of Colombia and all the eligible territories as well as over 98% of eligible subdivisions in the states agreed to participate in the settlement.