Key Takeaways
Cardinal Health Inc. (NYSE: CAH) raised its full-year profit outlook for the second time this year after reporting fiscal third-quarter results that saw revenue jump and adjusted earnings beat analyst expectations.
"Cardinal Health’s latest quarterly results extended momentum," Chief Executive Jason Hollar said, adding that continually strong performance across multiple end markets gave the company confidence to again raise its outlook.
The Dublin, Ohio-based pharmaceutical and medical supply distributor now expects adjusted earnings of $10.70 to $10.80 a share for the fiscal year. That compares with a prior forecast of $10.15 to $10.35 a share and is above the $10.32 average estimate from analysts polled by FactSet. The company last lifted its adjusted earnings outlook during its fiscal second-quarter report in February.
The upward revision suggests management expects the growth drivers from its pharmaceutical and specialty businesses to continue. The company distributes pharmaceutical and medical supplies while also providing healthcare services and solutions.
The stronger guidance signals that management is confident in continued growth, driven by its core pharmaceutical and medical supply segments. Investors will watch for the company's next earnings report for fiscal fourth-quarter results to see if the momentum can be sustained.
This article is for informational purposes only and does not constitute investment advice.
