Cencora, Inc. · NYSE:COR
Cencora — AmerisourceBergen — Q4 FY2021 Earnings Presentation
18 slides from Cencora's earnings presentation, Nov 4, 2021
Slide 1: Q4 FY2021 Financial Results
Q4 FY2021 Financial Results November 4, 2021
Slide 2: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements Certain of the statements contained in this presentation are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the "Securities Exchange Act"). Words
Slide 3: AmerisourceBergen is united in our responsibility to create healthier futures
AmerisourceBergen is united in our responsibility to create healthier futures. AmerisourceBergen creates unparalleled access, efficiency, and reliability for human and animal health as a leading provider of pharmaceutical distribution services and differentiated value-added solutions for upstream an
Slide 4: Overview
Overview Strong Q4 Differentiated value Fiscal 2022 guidance and performance proposition new reporting structure • Pharmaceutical • Industry-leading customer • New reportable segments: distribution growth base o U.S. Healthcare driven by solid • Leadership in specialty Solutions performance across t
Slide 5: Q4 FY2021 financial results
Q4 FY2021 financial results Consolidated results GAAP Adjusted (non-GAAP)1 Revenue $58.9B $58.9B % Change (Year-over-Year) 19.6% 19.6% Gross profit $2.1B $2.0B % Change 53.6% 51.3% Operating expenses $1.5B $1.3B % Change NM 64.9% Operating income $562M $694M % Change NM 31.0% Interest expense, net $
Slide 6: Full Year FY2021 financial results
Full Year FY2021 financial results Consolidated results GAAP Adjusted (non-GAAP)1 Revenue $214.0B $214.0B % Change (Year-over-Year) 12.7% 12.7% Gross profit $6.9B $6.6B % Change 33.7% 25.9% Operating expenses $4.6B $3.9B % Change NM 30.2% Operating income $2.4B $2.6B % Change NM 20.1% Interest expen
Slide 7: Q4 FY2021 financial results: Pharmaceutical Distribution Services segment
Q4 FY2021 financial results Pharmaceutical Distribution Services segment Q4 FY2021 Q4 FY2020 Revenue $51.2B $47.3B Operating income $472M $426M Percentages of revenue Gross profit 2.10% 2.05% Operating expenses 1.18% 1.15% Operating income 0.92% 0.90% ▪ Revenue increase of 8.4% driven by strong spec
Slide 8: Q4 FY2021 financial results: Other
Q4 FY2021 financial results Other — Alliance Healthcare, MWI Animal Health, World Courier, and AmerisourceBergen Consulting Services Q4 FY2021 Q4 FY2020 Revenue $7.7B $2.0B Operating income $223M $105M Percentages of revenue Gross profit 12.09% 18.08% Operating expenses 9.19% 12.83% Operating income
Slide 9: FY2022 guidance
FY2022 guidance U.S. Healthcare Solutions consists of legacy Pharmaceutical Distribution Services segment 1, MWI Animal Health, Xcenda, Lash Group, & ICS 3PL International Healthcare Solutions consists of Alliance Healthcare, World Courier, Innomar, Profarma1 & Profarma Specialty Revenue High-single
Slide 10: Purpose fuels performance
Purpose fuels performance Why we exist We are united in our responsibility to create healthier futures Our key strengths Best customer base Leader in specialty Innovation mindset Corporate stewardship distribution and commercialization Our growth strategies Customer focus Expand on Execution and inn
Slide 11: Advancing environmental, social, and governance initiatives
Advancing environmental, social, and governance initiatives to create healthier futures around the world Environmental Social Governance Adapting to a Investing in our people Embracing a culture of changing climate and communities transparency, ethics, and integrity • Reduced scope 1 and 2 greenhous
Slide 12: Appendix
AmerisourceBergen Appendix
Slide 13: Note: For more information related to non-GAAP financial measures, refer to the section titled
1. Includes a $6.3 million legal expense accrual related to opioid litigation settlements. 13 2. Includes $9.8 million of expense relating to Swiss tax reform and a $2.3 million loss on the currency remeasurement of the related deferred tax assets, which is recorded within Other Income, Net. Note: F
Slide 14: Note: For more information related to non-GAAP financial measures, refer to the section titled
1. Includes a $6.6 billion legal expense accrual in connection with opioid lawsuits. 2. Represents an adjustment to discrete tax benefits previously recognized primarily attributable to the income tax deductions resulting from the permanent shutdown of the PharMEDium business. 14 3. Represents a tax
Slide 15: Note: For more information related to non-GAAP financial measures, refer to the section titled
1. Includes a $147.7 million legal expense accrual related to opioid litigation settlements. 2. Represents an adjustment of discrete tax benefits primarily attributable to the income tax deductions resulting from the permanent shutdown of the PharMEDium business. 3. Includes $127.6 million of expens
Slide 16: Note: For more information related to non-GAAP financial measures, refer to the section titled
1. Includes a $6.6 billion legal expense accrual in connection with opioid lawsuits. 2. Represents discrete tax benefits primarily attributable to the income tax deductions resulting from the permanent shutdown of the PharMEDium business. 3. Represents a tax benefit relating to Swiss tax reform. 16
Slide 17: Note: For more information related to non-GAAP financial measures, refer to the section titled
1. For the non-GAAP presentation, diluted weighted average common shares outstanding has been adjusted to include the impact of the stock options and restricted stock units that were anti-dilutive for the GAAP presentation. Note: For more information related to non-GAAP financial measures, refer to
Slide 18: Contact
Contact Bennett S. Murphy Senior Vice President Investor Relations bmurphy@amerisourcebergen.com