Cardinal Health OptumRx contracts not renewed; reaffirms FY2024 non-GAAP EPS guidance $7.20-$7.35

CARDINAL HEALTH INC

OptumRx contracts expire June 2024; not renewed; 16% of FY2023 consolidated revenue.
About 90% of these sales were non-specialty bulk shipments with meaningfully lower operating margin.
Reiterates long-term segment profit CAGR 4-6% and non-GAAP EPS CAGR 12-14% (FY2024-2026 vs FY2023).
Expects FY2025 growth in Pharmaceutical & Specialty segment profit and non-GAAP EPS, partially offsetting impact.
Adjusted free cash flow target ~$2B average FY2024-2026, but lower in FY2025 due to working capital unwinding.

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