Cardinal health: Higher-than-expected quarterly earnings, lower earnings

Get real time updates directly on you device, subscribe now.

Cardinal health’s share of pre-conference trading rose 1.5% as the drug distribution and laboratory products company reported lower-than-expected quarterly earnings, but revenue exceeded estimates.

The company returned a profit of $ 271 million, or 94 cents a share, from a loss of $ 253 million, or 86 cents a share, a year ago.

Excluding the extraordinary, the adjusted earnings per share of $ 1.29 were lower than the estimates for $ 1.32.

Revenue rose 12.6 percent to $ 43.97 billion, compared with estimates for $ 41.84 billion.

Revenue from pharmaceutical business rose $ 13 to $ 39.8 billion, compared with estimates for $ 37.7 billion.

The company confirmed estimates for the year 2022 and earnings per share at $ 5.60-5.90, despite estimates that medical activities will be subject to higher inflationary pressures.

.

Source From: Capital

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.