Cardinal Health, Inc. (NYSE:CAH) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Cardinal Health, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.51% to $1.02 in the quarter versus EPS of $0.94 in the year-earlier quarter.
Revenue: Decreased 8.79% to $24.55 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cardinal Health, Inc. reported adjusted EPS income of $1.02 per share. By that measure, the company beat the mean analyst estimate of $0.95. It missed the average revenue estimate of $24.72 billion.
Quoting Management: “We delivered another solid performance in our fiscal third quarter,” said George Barrett, chairman and chief executive officer of Cardinal Health. “Both our Pharmaceutical and Medical segments reported double-digit profit growth. Our organization is successfully innovating and adapting our business lines and portfolio to an evolving market, with a focus on establishing a strategic edge in areas of higher growth. This was highlighted during the quarter with the acquisition of AssuraMed which will enable us to follow the care of patients to the home.”
Key Stats (on next page)…