Cardinal Health, Inc. (NYSE:CAH) Q1 2020 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 08:00 am ET


Cardinal Health, Inc. (NYSE:CAH) Q1 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Cardinal Health Inc's First Quarter Fiscal Year 2020 Earnings Conference Call. [Operator Instructions]. At this time, I would like to turn the conference over to Mr. Kevin Moran. Please go ahead, sir.

Kevin Moran

Good morning and welcome to Cardinal Health First Quarter Fiscal 2020 Earnings Call. Today, I'm joined by Mike Kaufmann, our Chief Executive Officer; and David Evans, our Interim Chief Financial Officer. You can find today's press release and presentation on the IR section of our website at

During the call, we will be making forward-looking statements. The matters addressed in the statements are subject to the 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 full description of the risks and uncertainties.

Note that during the discussion today, our comments will be on a non-GAAP basis, unless they are specifically called out as GAAP. Our GAAP to non-GAAP reconciliations for all relevant periods can be found in the schedules attached to our press release. We will provide an update to our FY '20 outlook on a non-GAAP basis. We do not provide guidance on a GAAP basis due to the difficulty in predicting items, that we exclude from our non-GAAP results.

During the Q&A portion of today's call, we kindly ask that you limit yourself to one question with one follow-up, so that we may give everyone in the queue a chance to ask a question.

With that, I'll now turn the call over to, Mike.

Mike Kaufmann

Thanks, Kevin. And congratulations on your new role. Good morning, everyone. Thanks for joining us today. I'm here with Dave Evans, and I'd like to welcome him to his first call as our Interim CFO. Dave has done a great job getting up to speed over the past few months. I'm grateful for his leadership and experience as we conduct our search for a permanent CFO.

This morning, we'll cover our progress in our path forward. I'll start with a few high-level thoughts on the quarter and then Dave will cover the financials. I'll close with some thoughts on how we will build on the solid start to the year. We remain confident in our strategic direction as we focus on driving both efficiency and growth. Our Q1 performance validates our short-term progress and longer term path. At the enterprise level, our disciplined cost management is enabling strategic reinvestment across both segments as well is in critical functional areas.

In the Pharma segment, we are seeing early signs of positive trends. And although we still have work to do, we are making progress in key areas. In Medical, we are encouraged by early traction from our improvement efforts, as well as the initial returns from ongoing investments in our growth platforms. I'll share more about this work in both segments later in my remarks, but first I'll turn today to