- Cardinal Health ( NYSE: CAH ) is trading ~4% higher after the company posted better-than-expected, helped by branded pharmaceutical sales growth.
- Revenue increased 13% Y/Y to $49.6B, beats by $1.44B. While, Q1 profit of $1.20 beats by $0.23.
- Pharmaceutical segment profit rose 6% Y/Y to $431M in the first quarter, driven by generics program performance and a higher contribution from brand and specialty products.
- The company reaffirmed its 2023 guidance range for non-GAAP diluted earnings per share attributable to Cardinal Health of $5.05 to $5.40 vs $5.25 consensus.
- Medical segment loss of $8M in the first quarter was primarily due to net inflationary impacts in Products and Distribution and a lower contribution from PPE.
For further details see:
Cardinal Health rises on Q1 earnings beat