Cardinal Health said revenue for the quarter ended March 31, 2025 was flat at $54.9 billion, and revenue for the 9 months decreased 3% to $162.4 billion. The company cited the expiration of the Pharma segment OptumRx contracts as the primary factor.

10-QQuarterly reportFiled May 1, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Cardinal Health said revenue for the quarter ended March 31, 2025 was flat at $54.9 billion, and revenue for the 9 months decreased 3% to $162.4 billion. The company cited the expiration of the Pharma segment OptumRx contracts as the primary factor.
Cardinal Health said non-GAAP operating earnings for the quarter increased 21% to $807 million, and for the 9 months increased 14% to $2.1 billion. The company cited increased contribution from branded and specialty pharmaceutical products, cost savings measures, and MSO platform acquisitions as factors driving the increases, partially offset by the expiration of the OptumRx contracts.
Cardinal Health said net cash provided by operating activities for the 9 months ended March 31, 2025 was $870 million, which includes the impact of payments totaling $797 million related to opioid litigation. During the same period, the company deployed $1.1 billion for the ION acquisition and $2.8 billion to acquire a 73% ownership interest in GIA.
Cardinal Health said in November 2024 it issued debt with an aggregate principal amount of $2.9 billion to fund a portion of the consideration payable in connection with the GIA and ADSG acquisitions and for general purposes. Total long-term obligations, including the current portion and other short-term borrowings, were $7.7 billion at March 31, 2025 and $5.1 billion at June 30, 2024.

Key figures

Quarter ended March 31, 2025

Revenue: $54.9B
Operating income: $730M
Net income: $506M
Gross profit: $2.1B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly and 9-Month Revenue Changes

Cardinal Health said revenue for the quarter ended March 31, 2025 was flat at $54.9 billion, and revenue for the 9 months decreased 3% to $162.4 billion. The company cited the expiration of the Pharma segment OptumRx contracts as the primary factor.

Source · Based on the MD&A text of the filing

Non-GAAP Operating Earnings and Factors Driving Increases

Cardinal Health said non-GAAP operating earnings for the quarter increased 21% to $807 million, and for the 9 months increased 14% to $2.1 billion. The company cited increased contribution from branded and specialty pharmaceutical products, cost savings measures, and MSO platform acquisitions as factors driving the increases, partially offset by the expiration of the OptumRx contracts.

Source · Based on the MD&A text of the filing

9-Month Operating Cash Flow and Acquisition Funding Deployment

Cardinal Health said net cash provided by operating activities for the 9 months ended March 31, 2025 was $870 million, which includes the impact of payments totaling $797 million related to opioid litigation. During the same period, the company deployed $1.1 billion for the ION acquisition and $2.8 billion to acquire a 73% ownership interest in GIA.

Source · Based on the MD&A text of the filing

New Debt Issuance and Total Long-Term Obligations

Cardinal Health said in November 2024 it issued debt with an aggregate principal amount of $2.9 billion to fund a portion of the consideration payable in connection with the GIA and ADSG acquisitions and for general purposes. Total long-term obligations, including the current portion and other short-term borrowings, were $7.7 billion at March 31, 2025 and $5.1 billion at June 30, 2024.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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