Cardinal Health, Inc. (NYSE:CAH) Q1 2025 Earnings Conference Call November 1, 2024 8:30 AM ET

Company Participants

Matt Sims - Vice President, Investor Relations
Jason Hollar - Chief Executive Officer
Aaron Alt - Chief Financial Officer

Conference Call Participants

Lisa Gill - JPMorgan
Michael Cherny - Leerink Partners
Erin Wright - Morgan Stanley
Eric Percher - Nephron Research
Allen Lutz - Bank of America
Kevin Caliendo - UBS
Eric Coldwell - Baird
George Hill - Deutsche Bank
Stephanie Davis - Barclays
Elizabeth Anderson - Evercore ISI
Daniel Grosslight - Citi
Charles Rhyee - TD Cowen
Stephen Baxter - Wells Fargo

Operator

Hello, and welcome to the First Quarter Fiscal Year 2025 Cardinal Health, Incorporated Earnings Conference Call. My name is George, and I'll be your coordinator for today's event. Please note, this conference is being recorded, and for the duration of the call, your lines will be in listen-only mode. However, you will have the opportunity to ask questions at the end of the presentation. [Operator Instructions]

I'll now hand the call over to your host today, Mr. Matt Sims, Vice President, Investor Relations, to begin today's conference. Please go ahead, sir.

Matt Sims

Welcome to this morning's Cardinal Health first quarter fiscal '25 earnings conference call, and thank you for joining us.

With me today are Cardinal Health's CEO, Jason Hollar; and our CFO, Aaron Alt.

You can find this morning's earnings press release and investor presentation on the Investor Relations section of our website at ir.cardinalhealth.com.

Since we will be making forward-looking statements today, let me remind you that the matters addressed in the statements are subject to risks and uncertainties that could cause our 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 our discussion today, the comments will be on a non-GAAP basis, unless specifically called out as GAAP. GAAP to non-GAAP reconciliations for all relevant periods can be found in the supporting schedules attached to our press release.

For the Q&A portion of today's call, we kindly ask that you limit questions to one per participant, 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. Good morning, everyone.

Overall, Cardinal Health delivered a terrific start to fiscal '25 with strong operational and financial performance, led by Pharma and Specialty Solutions. The ongoing strength and resiliency of our largest and most significant business was evident, delivering 16% segment profit growth, reflecting the team's advanced preparations and excellent execution in managing through the previously communicated large customer transition. We continue to operate in a stable industry environment with positive utilization trends underpinning our growth. We saw particularly strong and broad-based pharmaceutical demand this quarter across Brand, Specialty, Consumer Health and our Generics program. We are pleased to again support our customers with commercial distribution of the COVID-19 vaccines in preparation for the fall immunization season. And as I alluded to, the team executed our customer transition plans with urgency, realigning operational processes to address inefficiencies, facilitate the ongoing growth of the business, and support new customer implementations.