The following is a summary of the Premier, Inc. (PINC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Premier, Inc.'s total net revenue for Q3 saw an increase year-over-year, driven by growth in both the Supply Chain Services and Performance Services segments.

• A GAAP net loss of $49.2 million was reported for the quarter due to a $140 million impairment charge related to the Contigo Health business.

• An accelerated share repurchase transaction worth $400 million was implemented during the quarter.

• Adjusted net income and free cash flow decreased, influenced by increased costs and lower profit margins in certain businesses.

• Cash flow from operations dropped to $190.3 million from $331.2 million in the prior year period.

• The decrease in cash and cash equivalents is attributed to accelerated share repurchase and repayment of credit facilities.

• For FY 2024, free cash flow is expected to approximate 45% to 55% of the adjusted EBITDA for the full year.

Business Progress:

• Premier continues to drive the adoption of its digital supply chain capabilities, signing and expanding partnership agreements with various key players.

• A large regional system recently expanded its partnership with Premier, deploying the company's advanced analytics and AI-enabled technology across their entire system.

• Premier is seeking external partners for its S2S Global and Contigo Health businesses.

• Expectations include a decline in Supply Chain Services and the Performance Services segment, excluding Contigo Health, is expected to experience revenue growth in the mid-single-digit range.

• Premier is focusing on AI-technology solutions for healthcare providers and plans to continue work with large pharmaceutical companies.

• Strategies are being explored for partnerships, acquisitions, and further growth in key business areas, with a larger strategic approach towards member engagement.

More details: Premier IR

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