46 of 49 eligible states, all six eligible territories and over 98% of litigating political subdivisions are part of the national agreement. We build a settlement is the best way to deliver relief to communities across the United States and allow our company to move forward by putting 1000s of lawsuits behind us. This is an important and significant step forward for our company.
I'll elaborate on the actions we're taking to drive performance, particularly in medical after Jason reviews our third quarter results and updated outlook.īefore turning the discussion over to Jason, it's important to note that the opioid settlement agreement was finalized during the quarter and became effective on April 2. Our updated outlook for FY '22 reflects our most current expectation. While we remain confident these actions will deliver value and are encouraged by the other areas of our medical business and our opportunities for long-term growth, the current environment remains highly dynamic. We continue to take action to mitigate the effects of these global challenges on our business, including taking pricing actions, evolving our commercial contracting strategies, and investing in additional supply chain capacity. medical products and distribution business continues to experience unprecedented inflationary impacts and global supply chain constraints. We saw resiliency and overall pharmaceutical demand, strong performance in our generics program and continue to expect pharma to realize mid-single digit profit growth in FY '22. In pharma, despite the quarter being a little lower, due to higher operations costs, we remain encouraged by the trajectory of the business. As we continue to manage through the current macroeconomic environment, we remain focused on both near-term priority and long-term strategies to drive growth and momentum across our businesses.Īt an enterprise level, we're maintaining our focus on our three strategic priorities, optimizing our core businesses, investing for growth and innovation, and deploying capital efficiently. Our third quarter results reflect continued inflationary impacts and global supply chain constraints. Thanks, Kevin, and good morning, everyone. With that, I will now turn the call over to Mike. During the Q&A portion of today’s call, we please ask that you try and limit yourself to one question so that we can try and give everyone an opportunity. GAAP to non-GAAP reconciliation for all relevant periods can be found in the schedules attached to our press release. Please note that during our discussion today, our comments will be on a non-GAAP basis unless they are specifically called out as GAAP. Please refer to our SEC filings and the forward-looking statements slide at the beginning of our presentation for a description of these risks and uncertainties. The matters addressed in these statements are subject to the risks and uncertainties that could cause actual results to differ materially from those projected or implied. Joining me today are Mike Kaufmann, Chief Executive Officer, and Jason Hollar, Chief Financial Officer.ĭuring the call, we will be making forward-looking statements.
You can find today’s press release and presentation on the IR section of our website at ir.
#CARDINAL CHAINS LEVEL 46 UPDATE#
Today, we will discuss Cardinal Health third quarter fiscal 2022 results along with an update to our FY’22 outlook. Today’s conference is being recorded.Īt this time, I would like to turn the conference over to Kevin Moran, Vice President of Investor Relations. Third Quarter Fiscal Year 2022 Earnings Conference Call. Good day and welcome to the Cardinal Health, Inc. Kevin Moran - Vice President, Investor Relations ( NYSE: CAH) Q3 2022 Earnings Conference Call 8:30 AM ET
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