Cardinal Health Post Mixed Q1 Earnings; Reaffirms FY22 Adjusted EPS Outlook

Loading...
Loading...
  • Cardinal Health CAH reported Q1 FY22 adjusted EPS of $1.29, down from $1.51 a year ago, missing the Street estimate of $1.33.
  • Q1 sales increased 13% Y/Y to $44 billion, beating the consensus estimate of $41.93 billion.
  • The pharmaceutical segment increased 13% to $39.8 billion, driven primarily by branded pharmaceutical sales growth from large Pharmaceutical Distribution and Specialty customers.
  • The medical segment sales increased 5% to $4.1 billion, driven primarily by PPE sales, partially offset by the divestiture of the Cordis business.
  • Outlook: For FY22, Cardinal Health reaffirmed its adjusted earnings guidance of $5.60 - $5.90.
  • This guidance includes an update to the Medical segment profit outlook to mid-single to low-double-digit percentage decline, from low-double-digit percentage growth. 
  • The guidance also reflects net incremental elevated supply chain costs of approximately $100 million - $125 million. 
  • Cardinal Health also announced a 3-year authorization to repurchase up to an additional $3 billion shares.
  • Price Action: CAH shares are up 1.23% at $50.24 during the premarket session on the last check Tuesday.
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceHealth CareBuybacksGeneralBriefs
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...