Cardinal Health Q1 Filing: Financials for FY25

TL;DR

Cardinal Health's Q1 FY25 filing is in. Check financials for July-Sept 2024.

AI Summary

Cardinal Health Inc. reported its first quarter results for the fiscal year ending June 30, 2025. The company's filing covers the period from July 1, 2024, to September 30, 2024. Specific financial figures and operational details for this quarter are detailed within the report.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Cardinal Health, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks.

Key Players & Entities

• CARDINAL HEALTH INC (company) — Filer
• 7000 CARDINAL PLACE (location) — Business Address
• DUBLIN (location) — City
• OH (location) — State
• 0630 (date) — Fiscal Year End
• 20240930 (date) — Period of Report
• 20241101 (date) — Filing Date

FAQ

Key Financial Figures

• $52.3 billion — ptember 30, 2024 decreased 4 percent to $52.3 billion due to the expiration of the OptumRx co
• $568 million — nts. We had GAAP operating earnings of $568 million during the three months ended September
• $32 million — r 30, 2024 and a GAAP operating loss of $32 million during the three months ended September
• $585 million — charges related to the GMPD segment of $585 million. Non-GAAP operating earnings increased
• $625 million — rating earnings increased 12 percent to $625 million from the prior-year quarter primarily d
• $585 m — a pre-tax goodwill impairment charge of $585 million, related to the GMPD segment. For
• $45 million — tax benefit related to this charge was $45 million and was included in the annual effectiv
• $102 m — creased approximately by an incremental $102 million, and increased the provision for
• $1.88 — GAAP diluted EPS increased 9 percent to $1.88 from the prior-year quarter primarily d
• $2.9 billion — Our cash and equivalents balance was $2.9 billion at September 30, 2024 compared to $5.1
• $5.1 billion — llion at September 30, 2024 compared to $5.1 billion at June 30, 2024. During the three mont
• $1.6 b — t cash used in operating activities was $1.6 billion, which was primarily impacted by
• $366 million — des the impact of our annual payment of $366 million related to the agreement to settle the
• $375 million — ent"). In addition, we deployed cash of $375 million for share repurchases and $90 million f
• $90 million — $375 million for share repurchases and $90 million for capital expenditures. 4 Cardinal

Filing Documents

• cah-20240930.htm (10-Q) — 1074KB
• a25q1_10qx093024xexhibit311.htm (EX-31.1) — 10KB
• a25q1_10qx093024xexhibit312.htm (EX-31.2) — 10KB
• a25q1_10qx093024xexhibit321.htm (EX-32.1) — 6KB
• a25q1_10qx093024xexhibit991.htm (EX-99.1) — 41KB
• cah-20240930_g1.jpg (GRAPHIC) — 21KB
• cah-20240930_g2.jpg (GRAPHIC) — 20KB
• cah-20240930_g3.jpg (GRAPHIC) — 17KB
• cah-20240930_g4.jpg (GRAPHIC) — 19KB
• cah-20240930_g5.jpg (GRAPHIC) — 28KB
• 0000721371-24-000121.txt ( ) — 6834KB
• cah-20240930.xsd (EX-101.SCH) — 45KB
• cah-20240930_cal.xml (EX-101.CAL) — 49KB
• cah-20240930_def.xml (EX-101.DEF) — 301KB
• cah-20240930_lab.xml (EX-101.LAB) — 636KB
• cah-20240930_pre.xml (EX-101.PRE) — 482KB
• cah-20240930_htm.xml (XML) — 741KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 2 Explanation and Reconciliation of Non-GAAP Financial Measures 15

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 18

Controls and Procedures

Controls and Procedures 18

Legal Proceedings

Legal Proceedings 19

Risk Factors

Risk Factors 19 Unregistered Sales of Equity Securities and Use of Proceeds 19

Financial Statements

Financial Statements 21 Exhibits 38 Form 10-Q Cross Reference Index 39

Signatures

Signatures 40 About Cardinal Health Cardinal Health, Inc., an Ohio corporation formed in 1979, is a global healthcare services and products company providing customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. We provide pharmaceuticals and medical products and cost-effective solutions that enhance supply chain efficiency. We connect patients, providers, payers, pharmacists, and manufacturers for integrated care coordination. We report our financial results in two reportable segments: Pharmaceutical and Specialty Solutions ("Pharma") segment and Global Medical Products and Distribution ("GMPD") segment. All remaining operating segments that are not significant enough to require separate reportable segment disclosures are included in Other, which is comprised of Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight Logistics. As used in this report, "we," "our," "us," and similar pronouns refer to Cardinal Health, Inc. and its majority-owned and consolidated subsidiaries, unless the context requires otherwise. Our fiscal year ends on June 30. References to fiscal 2025 and fiscal 2024 and to FY25 and FY24 are to the fiscal years ending or ended June 30, 2025 and June 30, 2024, respectively.

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (this "Form 10-Q") (including information incorporated by reference) includes "forward-looking statements" addressing expectations, prospects, estimates, and other matters that are dependent upon future events or developments. Many forward-looking statements appear in Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A"), but there are others in this Form 10-Q, which may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook, and expense accruals. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those made, projected, or implied. The most significant of these risks and uncertainties are described in this Form 10-Q, including Exhibit 99.1, and in "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 ("2024 Form 10-K"). Forward-looking statements in this Form 10-Q speak only as of the date of this document. Except to the extent required by applicable law, we undertake no obligation to update or revise any forward-looking statement. Non-GAAP Financial Measures In the "Overview of Consolidated Results" section of MD&A, we use financial measures that are derived from our consolidated financial data but are not presented in our condensed consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). These measures are considered "non-GAAP financial measures" under the Securities and Exchange Commission ("SEC") rules. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in the "Exp

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations The discussion and analysis presented below is concerned with material changes in financial condition and results of operations, including amounts and certainty of cash flows from operations and from outside sources, between the periods specified in our condensed consolidated balance sheets at September 30, 2024 and June 30, 2024, and in our condensed consolidated statements of earnings/(loss) and our condensed consolidated statements of cash flows for the three months ended September 30, 2024 and 2023. All comparisons presented are with respect to the prior-year period, unless stated otherwise. Our previously reported segment results have been recast to conform to our new reporting structure and reflect changes in the elimination of inter-segment revenue and allocated corporate technology and shared function expenses, which are driven by the reporting structure change. All of the revisions are reflected throughout this Form 10-Q. See Note 1 of the "Notes to Condensed Consolidated Financial Statements" for additional information. This discussion and analysis should be read in conjunction with the MD&A included in the 2024 Form 10-K. 2 Cardinal Health | Q1 Fiscal 2025 Form 10-Q MD&A Overview Overview of Consolidated Results Revenue Revenue for the three months ended September 30, 2024 decreased 4 percent to $52.3 billion due to the expiration of the OptumRx contracts, partially offset by branded and specialty pharmaceutical sales growth from existing customers. GAAP and Non-GAAP Operating Earnings/(Loss) Three Months Ended September 30, (in millions) 2024 2023 Change GAAP operating earnings/(loss) $ 568 $ (32) N.M. Restructuring and employee severance 24 25 Amortization and other acquisition-related costs 74 64 Impairments and (gain)/loss on disposal of assets, net (1) 541 Litigation (recoveries)/charges, net (40) (41) Non-GAAP operating earnings $ 625 $ 557

View Full Filing

View this 10-Q filing on SEC EDGAR