CAH - Cardinal Health Inc. (CAH) Leerink Partners Healthcare Crossroads Conference (Transcript)
2024-05-29 21:04:06 ET
Cardinal Health, Inc. (CAH)
Leerink Partners Healthcare Crossroads Conference
May 29, 2024, 10:00 AM ET
Company Participants
Matt Sims - Head, IR
Aaron Alt - CFO
Conference Call Participants
Michael Cherny - Leerink Partners
Presentation
Michael Cherny
Great. We'll get started now. Good morning, everyone. Welcome to the session of the Leerink Healthcare Crossroads Conference. I'm Mike Cherny, the Healthcare Tech and Distribution Analyst. Much more importantly, we have Cardinal Health CFO, Aaron Alt; and Head of IR, Matt Sims. Matt is going to kick it off with some important comments on Reg FD, and then we'll jump into a fireside chat.
Matt Sims
Very important. Thanks, Mike. It's great to be here. We appreciate you hosting us. So just a reminder before we get going here. We will be making forward looking statements today, which are subject to risks and uncertainties that could cause our actual results to differ materially from those projected or implied. For a description of these factors, please review our SEC filings, which can be found on our Investor Relations website at ir.cardinalhealth.com.
Question-and-Answer Session
Q - Michael Cherny
Thanks, Matt. So maybe we'll just jump in. Kind of a few weeks past the quarter, obviously, a lot of moving pieces, both in terms of the fourth quarter implications and into '25. Maybe start with initial '25 look that you gave us. You put a floor in earnings for next year. Obviously, there's a significant customer from a revenue perspective moving away. Can you give us a little bit of the underlying drivers what you're seeing from a market basis that gave comfort in that preliminary '25 guidance?
Aaron Alt
Sure. Well, first, thanks for having us. It's always a pleasure to be back in Texas. And Jason Hollar and I appreciate you investing in us and taking the time. To look forward, we first need to look a little bit back and we need to understand the drivers of our Q3 performance and indeed the updated guide that we provided for fiscal year '24. And it starts with our largest, most profitable business, which is now called PS&S, the older pharma business, if you will. And what we saw in Q3 and indeed what we guided for in Q4 was continued strong macro environment, right?...
Cardinal Health, Inc. (CAH) Leerink Partners Healthcare Crossroads Conference (Transcript)