Cardinal Health, Inc. (NYSE:CAH) Q1 2024 Earnings Conference Call November 3, 2023 8:30 AM ET

Company Participants

Matt Sims - VP of IR

Jason Hollar - CEO

Aaron Alt - CFO

Conference Call Participants

Lisa Gill - JPMorgan

Eric Percher - Nephron Research

Kevin Caliendo - UBS

Erin Wright - Morgan Stanley

George Hill - Deutsche Bank

Elizabeth Anderson - Evercore

Daniel Grosslight - Citi

Charles Rhyee - TD Cowen

Allen Lutz - Bank of America

Operator

Good day, and welcome to today's First Quarter Financial Year 2024 Cardinal Health Earnings Conference Call. This meeting is being recorded.

At this time, I'd like to hand the call over to Matt Sims, Vice President of Investor Relations. Please go ahead, sir.

Matt Sims

Good morning, and thank you for joining us for Cardinal Health first quarter fiscal '24 earnings conference call. On the call with me today are Jason Hollar, Chief Executive Officer; and Aaron Alt, Chief Financial Officer. You can find today's press release and earnings presentation on the IR section of our website at ir.cardinalhealth.com.

As a reminder, during the call, we will be making forward-looking statements. The matters addressed in the statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied. Please refer to our SEC filings and the forward-looking statement slide at the beginning of our presentation for a description of these risks and uncertainties.

Please note that during the discussion today, our comments will be on a non-GAAP basis, unless they are specifically called out as GAAP. GAAP to non-GAAP reconciliations for all relevant periods can be found in the schedules attached to our press release. For the Q&A portion of today’s call, we kindly ask that you limit questions to one for participants so that we can try and give everyone an opportunity.

With that, I will now turn the call over to Jason.

Jason Hollar

Thanks, Matt, and good morning, everyone.

Overall, it was a great start to our fiscal year, with strong first quarter results and an improved outlook for the year, we are continuing our operating momentum into fiscal 2024. In the first quarter, we delivered significant profit growth in both segments. In Pharma, the results were driven by the strength across our business, including continued positive performance from our generics program. We also benefited from our role distributing the recently commercialized COVID-19 vaccines, which I'll elaborate on later in my remarks.