Financial Data and Key Metrics Changes - Consolidated revenues increased 10% year over year to $103 billion, with adjusted earnings per diluted share rising 39% to $9.86 [5][20][41] - Operating profit reached a record $1.6 billion, up 26% year over year, driven by growth across all operating segments [23][41] - Gross profit increased 9% to $3.5 billion, primarily due to strong specialty distribution and provider growth [22] Business Line Data and Key Metrics Changes - North American pharmaceuticals segment revenues were $86.5 billion, an increase of 8%, with operating profit rising 13% to $851 million [25][41] - Oncology and multi-specialty segment revenues increased 32% to $12 billion, with operating profit up 71% to $397 million, driven by strong provider and specialty distribution growth [27][41] - Prescription technology solutions segment revenues rose 9% to $1.4 billion, with operating profit increasing 20% to $261 million [28][41] - Medical-surgical solutions segment revenues were flat at $2.9 billion, with operating profit increasing 2% to $249 million [29][41] Market Data and Key Metrics Changes - Revenues from GLP-1 medications were $13.2 billion, a 24% increase year over year [26] - The oncology business continues to see good traffic and volumes, benefiting from new partners and complicated oncology-type patients [65] Company Strategy and Development Direction - The company introduced a new reporting structure to enhance transparency and sharpen visibility into growth platforms, focusing on oncology and multi-specialty, and biopharma services [21][34] - The strategy includes significant investments in automation and technology to improve operational efficiency and customer experience [14][15][41] - The company is targeting to exit the medical-surgical solutions business through an initial public offering by the second half of calendar 2027 [17][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook, raising guidance for adjusted earnings per diluted share to a range of $38.35-$38.85, reflecting strong second-quarter performance [5][34] - The company anticipates revenue growth of 11%-15% and operating profit growth of 12%-16% for fiscal 2026 [35][41] - Management highlighted the importance of maintaining discipline in reviewing the portfolio and market decisions [66][67] Other Important Information - The company ended the quarter with $4 billion in cash and cash equivalents, indicating strong liquidity [30] - Free cash flow for the second quarter was $2.2 billion, reflecting disciplined working capital management [30] Q&A Session Summary Question: Understanding revenue growth versus operating profit expansion - Management noted that operating margin expansion was seen across all segments, driven by new products and enhanced programs [44][45] Question: Oncology and multi-specialty segment guidance - Management indicated that strong growth was driven by acquisitions, with organic growth at about 13% year over year [53] Question: Health system business performance - Management expressed satisfaction with the health system business, noting strong volumes and market-leading share [57] Question: Tax rate guidance for the year - Management clarified that the tax rate could vary, with an anticipated range of 18%-19% for the full year [60][61] Question: Impact of cash pay channel on prior authorization business - Management stated that the impact of cash pay channels is expected to be minimal, as the eligible population remains small [76][78] Question: SG&A and gross profit trends - Management attributed the trends to a favorable mix of businesses and continued focus on efficiency [83][84]