The company said revenue rose $5.0 billion (7.8%) from the prior year quarter and $14.4 billion (11.4%) from the prior year 6-month period. It cited growth in the U.S. Healthcare Solutions segment as the main factor.

10-QQuarterly reportFiled May 1, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said revenue rose $5.0 billion (7.8%) from the prior year quarter and $14.4 billion (11.4%) from the prior year 6-month period. It cited growth in the U.S. Healthcare Solutions segment as the main factor.
The company said sales of GLP-1-class diabetes and weight-loss labeled products at U.S. Healthcare Solutions rose $1.3 billion from the prior year quarter and $3.4 billion from the prior 6-month period. The company said the gross profit margin on these products is low.
The company said the litigation and opioid-related expenses, net, for the quarter ended March 31, 2024 included a $214.0 million litigation accrual for opioid drug distribution litigation and $12.0 million in legal fees.
The company said net cash provided by operating activities for the 6 months ended March 31, 2024 fell $1.3 billion from the same 6-month period a year earlier. It cited an increase of $1.4 billion in net working capital account balances and delayed collections of about $600 million from certain customers following the Change Healthcare cyberattack.

Key figures

Quarter ended March 31, 2024

Revenue: $68.4B
Operating income: $553M
Net income: $421M
EPS: $2.09
Gross profit: $2.5B

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.

Revenue Growth and U.S. Healthcare Solutions

The company said revenue rose $5.0 billion (7.8%) from the prior year quarter and $14.4 billion (11.4%) from the prior year 6-month period. It cited growth in the U.S. Healthcare Solutions segment as the main factor.

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

Sales Growth in GLP-1 Products

The company said sales of GLP-1-class diabetes and weight-loss labeled products at U.S. Healthcare Solutions rose $1.3 billion from the prior year quarter and $3.4 billion from the prior 6-month period. The company said the gross profit margin on these products is low.

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

Opioid Lawsuit-Related Expenses

The company said the litigation and opioid-related expenses, net, for the quarter ended March 31, 2024 included a $214.0 million litigation accrual for opioid drug distribution litigation and $12.0 million in legal fees.

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

Decline in Operating Cash Flow

The company said net cash provided by operating activities for the 6 months ended March 31, 2024 fell $1.3 billion from the same 6-month period a year earlier. It cited an increase of $1.4 billion in net working capital account balances and delayed collections of about $600 million from certain customers following the Change Healthcare cyberattack.

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.

View the original filing on SEC EDGAR ↗

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