comparisons are My on unless good everyone. today Growth and made adjusted prior quarter. against rates year stated. our Steve, and will financial morning non-GAAP the results Thanks, June otherwise remarks focus
GAAP For earnings please a detailed of refer our release. our to results, discussion
impressive execution businesses. across performance Fiscal and of AmerisourceBergen’s XXXX has portfolio been an for year
worked by to headwind PharMEDium distribution, Distribution to across for expand the continued offset and our deliver position In Pharmaceutical specialty in we H.D. infrastructure Smith initiatives diligently our our caused on year. integrated segment, our into leadership to the business successfully
to continue & markets. differentiate themselves Global delivered income as our Health, Services Animal businesses In the segment, Commercialization expectation, we operating on growth our Group their our in Other in high-single-digit
Our complex execution our our best-in-class and partners combined navigate of pharmaceutical-centric focus and healthcare service delivering businesses with to environment. unique enables solutions us for the on foundation successfully
for our XXXX, fiscal provide three this discuss and to main fiscal XXXX results now Turning our commentary morning. in I in expectations areas will
consolidated First, I will our detail quarterly segment adjusted results.
cover will highlight full third year I our performance and XXXX fiscal Second, XXXX fiscal I guidance. will our
our operating count income, a we quarter increase adjusted to EPS the interest an now finished net due of results, XX% lower $X.XX, share with lower fourth higher Moving of and primarily expense. quarter diluted to
Animal segment Our up X%, Services revenue Distribution both by & Commercialization Services group. consolidated our revenue solid the Global and $XX.X billion, was growth driven Pharmaceutical in Health
that pull-forward X% of In of in This shift represents a roughly December earlier had results we than had the quarter. to gross vaccine XXXX. from sales, which increased XXXX quarter fiscal the to recognition expected profit fourth $X.X or fourth billion. fiscal initially a expected EPS profit $X.XX realize the in quarter, we Gross
in incentive businesses. fourth higher part the performance in exited as we in As expected, were compensation, of to as result our the fiscal of our due in many associate expenses a quarter increase year operating strong an
$XX Consolidated to cash our million invested or interest flat. up our interest increased and with operating better million, income continued average balance income to as operating we margin expense was Net X%, higher related $XXX to interest $XX $X million rates. million, from benefit
prior XX.X%, was the income year now as income the taxes, to same our rate quarter. Moving tax
shares driven quarter the share Our to diluted increased the in XXX opportunistic share million repurchases year. for count X% by
This the of consolidated results. review our completes
Services, and product strong Now customer I segment segment Distribution will cover with benefit sales continues $XX to revenue The billion, up from our X%. results. was growth. overall specialty Pharmaceutical segment Beginning
expenses in with Segment margin X driven the operating million, down basis $XXX our to income by operating about operating quarter. increased points income higher X.X% the
now which the will Animal Services of turn consists I Health, World Consulting and MWI focus businesses Courier, that to Global Other & Health. including on AmerisourceBergen segment, Animal Commercialization
as growth at growth increased was be overall to Commercialization revenue the World a MWI and revenue existing Courier had and the and MWI Services billion, revenue due reflecting primarily which sales Consulting growth in quarter, benefit XX%, the and had $X.X to the XX% total business up In Consulting's to across Canadian customers significant group. mid-teens. primarily the Group from will Global our continued Group, growth operations
segment operating Other challenged nice MWI, an up XX%. million, three is all quarters income the that had experienced operating lapping of standpoint, some From quarters subcomponents, in and World This Consulting. income were some Courier group $XX and growth
the completes results This quarter year I of will now review to our fiscal for and our turn segment the XXXX full performance.
$XXX.X was within partnerships. multiple strategic growth portfolio consolidated our billion, up of Our by customers driven X% revenue broad and
Express of represented our Walgreens XX% customer, XX% Scripts revenues largest Our largest represented our second revenues. total customer of our and
as in a through stemming from compared Cigna. XXXX will Scripts revenue Looking with the ahead onboard XXXX, merger incremental relationships fiscal larger our fiscal portion XXXX to Express of fiscal that overall we to volume the expect we be
income billion, XXXX fiscal declined XXXX. operating to to primarily year over to our a profit for the compared operating PharMEDium operating X.X% while related basis small from X Consolidated the points grew in operating fiscal in $X loss margin
of PharMEDium, operating XXXX. fiscal basis to X fiscal point in Excluding the declined compared XXXX impact margin
The the segment Distribution both X.X% impressive Pharmaceutical X%. over groups, growth is income and Pharmaceutical as operating while performance Distribution was grew operating executed their Other grow to in Other quite in income. teams
where relationships and In across continues performance performance Distribution, anchored and to strong we immuno oncology segments, growth balanced growth and expanded Pharmaceutical broadly. products of in be in segments specialty good experienced there notable wallet we within oncology and more including saw customer share business customer
still of utilization, better phases of early expected while oncology Additionally, than the in we saw uptake biosimilars.
to are small biosimilar dollars, While as relatively uptake we certain to meaningful growth seeing the this grow market are we is the still about encouraging of a more talking part is future for in the size.
profitability growth as to Nova, continues Courier’s and value-added progress continues fundamentals World to position business, market drive business another dividends. strong In supports year the and their leverage growth MWI strong data customer other, to enhance commercial transport and the strategic pay of of implementation their relationships for well platform it performance.
in have operating costs. back, in in same Consulting a of tailwind fiscal a saw XXXX on did over a fiscal businesses. favorable we Additionally, growth better did not year-over-year meaningful expected in Taking This healthcare we significant $X.XX and XXXX fiscal step expenses tailwind created than our XXXX. the from impact benefit we expect
one-time a our year XX.X% tax taxes, which was item lower adjusted U.S. full effect tax both taxable reflecting had a income of Regarding rate on mix income discrete favorable rate. our and of a
supplier a to Turning share cash and and free income deliver year due expected, of now to and X% customer EPS, also was billion, payments. year primarily grew $X.X diluted adjusted due primarily execution than operating for our our to lower Adjusted flow growth management EPS inventory higher the count. to full timing
our in repurchases while fiscal shareholders and capital dividends through of Smith. We billion to invested we approach million XXXX, $X continue our opportunistic deployment to acquisition all expenditures, through businesses $XXX our fiscal take and a successfully H.D. integrating in to strategic returned XXXX capital share
returning maintaining and balance understand shareholders appropriate to both our proposition. investing our and value appreciate business to the We and the through capital further of internally commercial importance enhance sustain and between acquisitions
proven for had value year began optimism As of deliver be the associates, our provider say partners. businesses to I are confidently to proposition success to role culture Financial now ABC manufacturer my Officer this we as The the for AmerisourceBergen, I can I that I when and fundamental second and the and Chief incredible across enter warranted. our company has
executional towards focus will on to investing look talent support again our furthering In and and innovating our all while ABC. on to continuing growth and one fiscal we move excellence, deliver XXXX,
inflation assumptions regarding XXXX to into brand that Now be some expectations, working pricing. are first, brand We factored our fiscal similar fiscal that assume XXXX. will
XXXX experienced the the on the are in environment and expect pricing side to a side, that encouraging similar we on dynamic competitive fiscal we the stabilization but we remains generic generic sell continue. Now front, on stable the the anticipating of one pricing trend buy to
XXXX. guidance financial fiscal our to for now Turning
provide As do forward-looking GAAP on a we a reminder, guidance basis. not
metrics all of the adjusted provided an basis. non-GAAP So on following are
consolidated range Scripts mid growth percent to our Starting volume with expect is high-single-digit quarter the and incremental due revenue, relationship. revenue to of Express we roughly of onboarding in the the through a growth
While specialty of business product do pharmacy we not profit good have is gross for this guidance, is provide it as and said is relationship inherently which profit past mail order worth in we a lower the noting predominantly margin. reminder, that type dollars. business is But as brand that
Now turning operating expenses. to
mid-single-digit expenses expense percent certainly to that we of to importance in operating ensure Understanding expense low-end of grow work consolidated the range. growth management, operating the at will expect that range. We the is
However, year-over-year there are growth. the impacting a couple items
level in fiscal fiscal the for discussed lease result accounted as XXXX, cost experienced that leases. of standard, not adopting were reduction built-to-suit repeat be First, is XXXX and certain new previously for leases in healthcare previously of operating in to leases expected accounting the accounted as as a will second,
change impacts therefore has line. income favorable offsetting on the operating and interest impact expenses This negatively operating but expense
Regarding operating our growth mid-single-digit percent low we by income to in range operating operating with segments. expect income, both the expected grow to
From income percent expect we in Pharmaceutical the Distribution operating following. a Services, we mid-single-digit to the segment’s the standpoint, range. expect In grow low segment to
specialty where are our This Pharmaceutical standing. continues and segment in leadership our key in services we good across benefit could anchored from to Distribution specialty key relationships buy physician distribution customer all
expect be business, to expect a to headwind not XXXX. adoption do we remediation we it continued it to fiscal expectations, our appropriate a compared the to loss as pertains make headwind regards to to accounting In PharMEDium, segment progress represents fiscal but to in efforts with X% lease financial continue XXXX almost at The income. operating
businesses growing within Animal high-single-digit focus World Commercialization the the in supported Courier This and consulting. that group positive the from its businesses our range. strong fiscal expected income is for in Other now by MWI, percent segment, continued Services Global Health, Moving by our expectation to trajectory continue this to momentum operating & XXXX is growth on
Fusion As team the to it the existing programs fiscal will pertains XXXX. Lash, migrating to transition business manufactured in continue on as new is to focused the in be platform
the to past fiscal onboarding fiscal the platform While we encouraged in don’t in a expect year. Fusion by XXXX existing and tailwind greatly by be development of to XXXX, programs this are new and the we new business Lash wins
group where in other drivers been Lash has niche their for growth and are innovation positively well the in this in differentiated positioned businesses value creation. exist respective investments markets, organic and and long-term
turning rate expectations, rate tax adjusted Now tax and of mix our repeat higher year a than full tax benefited a and rate to consolidated item XX% The guidance fiscal will of which between from XX%. our XXXX XXXX. foreign-based in expected not our assumes fiscal income discrete
do we Regarding include count, our a reminder, share not capital unidentified in as guidance. allocation
Our the between and fiscal we finished weighted million year million XXXX shares guidance assumes outstanding. average at XXX that XXX
expect Moving X%. $X.XX growth XXXX EPS of to range in our $X.XX to to of be reflecting adjusted X% to we per fiscal earnings the share,
year not do in guidance, XXXX quarterly be full quarter provide will part of EPS we first the of While the that growth the growth I range. fiscal lower will in note our likely
flow expectations. Turning now cash to
spend one fiscal $XXX of and the to First, project CapEx million, be is key XXXX. projects to being spend no fiscal in carried the relates XXXX from over expected dominates much about
ranging a normal from each supporting the particular have increasing our to fall investments into run efficiency or The business enhancing capabilities. business aimed and focus at projects categories growth, projects or need
related continued year has our must expand service demand experienced offering, past national in in we this the we few in center center where to capacity our example, point For facilitate reached distribution manufacturer have to to national growth. for now order the invest expansion growth solid years, distribution
manufacturer is our an investment of increases growth supports that This and partners. example an efficiency for
Now cash flow. for free
approximately AmerisourceBergen and expect our closing, healthcare. free expertise delivered continues $X.X We cash fortify undeniable XXXX be and the enhance flow In across to our for to proposition fiscal execution, solutions value in billion.
united value customer strong deliver continue purpose well healthier futures. and markets, us on our growing responsibility relationships, our long-term shareholder helped create and in positioned create in leadership talent to strategy, to culture AmerisourceBergen’s being of to
Thank AmerisourceBergen. your you interest for in
on forefront into jump matters. understand unable towards we of we a settlement be call, portion our of Q&A litigation minds. and the the stakeholders’ Before continues to of these many to we opioid Due work are the today’s to ongoing comment at the issue deeply
time. earnest, to We in We we your will do patience. that your to here we seek want group answer are in what that say can questions your remind this limited appreciate but at
Now over the I start call will our to operator the to Q&A. turn Operator?
