- Cardinal Health ( NYSE: CAH ) on Thursday posted a better-than-expected second quarter and raised its 2023 profit guidance, helped by growth in pharmaceutical segment.
- The company now sees 2023 profit between $5.20 to $5.50, from $5.05 to $5.40 vs. $5.31 consensus.
- Revenue for the Pharmaceutical segment rose 15% to $47.7B, driven by brand and specialty pharmaceutical sales growth from existing and net new customers.
- While, Medical segment fell 7% to $3.8B, driven by lower Products and Distribution sale.
- This company said the guidance includes an update to fiscal year 2023 Pharmaceutical segment profit outlook to 4% to 6.5% growth, from 2% to 5% growth.
- The company's new chief financial officer Aaron Alt will take office on Feb. 10.
- Cardinal Health revenue rose 13.2% Y/Y to $51.47B, and beat by $1.44B, while Q2 Non-GAAP EPS of $1.32 beat by $0.18.
- Presentation
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Cardinal Health raises 2023 profit guidance, beats earnings estimates