Cardinal Health, Inc. · NYSE:CAH
Cardinal Health — Q3 FY2021 Earnings Presentation
16 slides from Cardinal Health's earnings presentation, May 6, 2021
Slide 1: Q3 FY21 Cardinal Health, Inc. Earnings Call
Q3 FY21 CARDINAL HEALTH, INC. EARNINGS CALL MAY 6, 2021
Slide 2: Forward-looking statements and GAAP reconciliation
Forward-looking statements and GAAP reconciliation Cautions Concerning Forward-Looking Statements This presentation contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be ident
Slide 3: Q3 results
Q3 results 3
Slide 4: Q3 FY21 financial summary
Q3 FY21 financial summary GAAP Basis ($M) Non-GAAP Basis ($M) Q3 FY21 Q3 FY21 Revenue $39,275 N/A % change -- % Gross margin $1,812 $1,811 % change (4)% (4)% SG&A $1,120 $1,121 % change (4)% (4)% Operating earnings $4731 $689 % change (16)% (4)% Interest and other2 $33 % change N.M. N/A Net earnings
Slide 5: Q3 FY21 Pharmaceutical segment results
Q3 FY21 Pharmaceutical segment results Q3 FY21 ($M) Q3 FY20 ($M) YoY change Revenue $35,104 $35,112 0% Segment profit $511 $534 -4% Segment profit margin 1.46% 1.52% -6 bps Drivers: Revenue + Pharmaceutical Distribution + Specialty Solutions - Prior year comparison of COVID-19-related sales accelera
Slide 6: Q3 FY21 Medical segment results
Q3 FY21 Medical segment results Q3 FY21 ($M) Q3 FY20 ($M) YoY change Revenue $4,174 $4,051 3% Segment profit $174 $178 -2% Segment profit margin 4.18% 4.39% -21 bps Drivers: Revenue + COVID-19: PPE and lab testing, partially offset by elective procedures Segment profit + Cost savings, including glob
Slide 7: FY21 outlook
FY21 outlook 7
Slide 8: FY21 financial expectations
FY21 financial expectations Updated FY21 Prior FY21 FY20 actual outlook outlook Non-GAAP EPS $5.90 – $6.05 $5.85 – $6.10 $5.45 Interest and other $145M – $160M $165M - $185M $237M Non-GAAP ETR 23.5% – 25.0% 23.0% - 25.0% 25.1% Diluted weighted average ~294M 294M – 295M 295M shares outstanding Capita
Slide 9: FY21 segment outlook
FY21 segment outlook Segment Revenue Profit Mid-single digit percentage Flat to low-single digit Pharmaceutical growth percentage decline Previously low-single digit percentage growth High-single to low-double digit Low to mid-twenties Medical percentage growth percentage growth Bold indicates an up
Slide 10: Strategic priorities
Strategic priorities • Optimize core businesses • Invest for growth • Deploy capital efficiently • Enhance our global • Specialty Solutions • Prioritize supply chain and investment in the drive commercial • Cardinal Health business excellence at-Home Solutions • Maintain a strong • Maximize all • Nu
Slide 11: Appendix
Appendix 11
Slide 12: GAAP / Non-GAAP Reconciliation
Cardinal Health, Inc. and Subsidiaries 1 GAAP / Non-GAAP Reconciliation Gross Operating Earnings Net Diluted 2 3 3 Margin SG&A Earnings Before Provision for Earnings Effective EPS Gross Growth Growth Operating Growth Income Income Net Growth Tax Diluted Growth Margin Rate SG&A2 Rate Earnings Rate Ta
Slide 13: GAAP / Non-GAAP Reconciliation
Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation1 Earnings/ Net Gross Operating (Loss) Provision for/ Earnings/ Diluted Margin SG&A2 Operating Earnings Before (Benefit from) Net (Loss)3 Effective EPS 3 Gross Growth Growth Earnings/ Growth Income Income Earnings/ Growth Tax Dilut
Slide 14: Segment Information
Cardinal Health, Inc. and Subsidiaries Segment Information Third Quarter (in millions) 2021 2020 (in millions) 2021 2020 Pharmaceutical Medical Revenue Revenue Amount $ 35,104 $ 35,112 Amount $ 4,174 $ 4,051 Growth rate -% 12 % Growth rate 3% 5% Segment profit Segment profit Amount $ 511 $ 534 Amoun
Slide 15: Forward Looking non-GAAP Measures
Cardinal Health, Inc. and Subsidiaries Forward Looking non-GAAP Measures In this document, the Company presents certain forward-looking non-GAAP metrics. The Company does not provide outlook on a GAAP basis because the items that the Company excludes from GAAP to calculate the comparable non-GAAP me
Slide 16: Definitions
Cardinal Health, Inc. and Subsidiaries Definitions Growth rate calculation: growth rates are determined by dividing the difference between current-period results and prior-period results by prior-period results. Interest and Other, net: other (income)/expense, net plus interest expense, net. Segment