Cardinal Health, Inc. (NYSE:CAH) Q4 2023 Earnings Call Transcript

And you’ll recall from our Investor Day that we don’t have short-term maturities. We have some bonds coming due at the end of the year that we will likely just refinance. But we’re feeling good about our investment-grade balance sheet And then we’ve committed to a baseline of return of capital to shareholders, continuing to grow the dividend. We’ve raised it 34 years in a row. Similarly, we committed to buy back at least $500 million of shares during fiscal year ’23. Those are the table stakes parts of how we’re going to use our cash. As we then move through the year, as we assess the opportunities in front of us, as we assess how the business is performing, we have two opportunistic levers that we will also be looking at. The first is active, disciplined and targeted M&A largely in specialty, and we have opportunities there that we’re looking at as well.

And then on top of that, we will also continue to look at incremental return of capital to shareholders. Nothing additional to announce today on either of those two levers. But we want to be clear that we are going to do what we said we were going to do with respect to our disciplined capital allocation strategy.

Operator: And that does conclude the question-and-answer session of today’s call. I would now like to turn the call over to CEO, Jason Hollar for any additional or closing remarks.

Jason Hollar: Okay, great. Thanks again for joining us this morning. To summarize, fiscal ’23 was a great year. It was a year of inflection, and we are excited to continue this momentum into fiscal ’24 and beyond. With that, thank you and have a great day.

Operator: And that does conclude the fourth quarter full year ’23 Cardinal Health, Inc. earnings conference call. We thank you all for your participation and you may now disconnect.