Jason Hollar: Well, so it depends on the time frame we’re talking about, but for fiscal ’25, our ultimate goal of the $650 million that volume impact we’re talking about will not materially impact at all the recognition of the inflation mitigation. That is something that does have some volatility quarter-to-quarter, which is exactly what we highlighted as one of the drivers in the guidance change for this year. But it’s not something that will impact significantly the future quarters let alone when we get to fiscal ’25. And so I think about volume, the volume component of the order of magnitude of the impact and the benefit that we expect for growing this volume is that $75 million that we have on one of the slides in the presentation, that volume pillar of growing Cardinal Health brand products, that is the order of magnitude we’re talking about.
And so I do not believe long-term that, that spills over and impacts the mitigation and the cost side of that. So you can think about those as independent as it relates to the longer term impacts, they are a bit more mix in the terms of the short term and what that does to how quickly we recognize that, that lower cost, but that is very much just a short-term timing effect.
Operator: Thank you very much, sir. And our last question today is going to be coming from Brian Tanquilut calling from Jefferies. Please go ahead, sir.
Kristen Shuman: Hi. This is Kristen Shuman for Brian. And you might have mentioned this earlier, but I just want to clarify. So could you just give some guidance around how much of the Pharma segment EBITDA guidance range is expected to recur in fiscal ’24? Thank you.
Aaron Alt: Well, we have not provided fiscal year ’24 guidance. We’re pleased to report the strong performance in Q3. As we’ve talked about, and indeed, we did raise our guidance overall for Pharma. For the year, we’re now expecting the profit guidance to be 10.5% to 12% for the full year. That’s in contrast to our earlier guidance of low single digit to mid-single digit. So we are expecting a good finish to the year from this business, and we’re excited to see you all on June 8th at our Investor Day presentation.
Operator: Thank you very much. Ladies and gentlemen, that will conclude today’s Q&A session. I’d like to turn the call back over to Mr. Jason Hollar for any additional closing remarks.
Jason Hollar: Yes. Great. Thank you, and thank you, everyone, for joining us today. I know that we threw a lot out at you today, but we have a lot going on as an organization and just wanted to share the progress with you and give you more insight to a lot of the key drivers. If I step back and just think about what we went through, certainly, feel terrific about the progress that we’re making across the enterprise. Pharma has, of course, a fantastic quarter, a fantastic year, broad-based as we talked. On the Medical side of the business, we have opportunity. We’re very, very focused on driving the medical improvement plan. We feel really good about the progress we made are clearly making in three of those four pillars. We have work to do on the underlying volume.
We’ll have more confidence in where the market is going for that volume also have confidence in the leading indicators that will take for us to get our fair share of that volume. Of course, also, we’re very pleased with the cash performance that we had and that we talked about today and that raising that guidance, narrowing the guidance as well. It highlights both the strong cash management that we have, but also the responsible capital deployment that’s going along with that. So just again, thank you for your time today and look forward to seeing you all of you at the Investor Day on June 8th.
Operator: Thank you very much, sir. Ladies and gentlemen that will conclude today’s conference. Thank you for your time. You may now disconnect. Have a good day and goodbye.
