Cardinal Health (CAH) Beats on Q1 Earnings & Revenues
Cardinal Health Inc. CAH is a healthcare services company engaged in providing pharmaceutical and medical products and services in the United States and internationally. The company mainly operates in two segments, Pharmaceutical and Medical.
Currently, Cardinal Health has a Zacks Rank #3 (Hold) but that could change following its first-quarter fiscal 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Cardinal Health’s EPS surged 38% on a year-over-year basis to $1.38. It also managed to outpace the Zacks Consensus Estimate of $1.10.
Revenues: Revenues increased 16.6% on a year-over-year basis to $28.01 billion. It also managed to beat the Zacks Consensus Estimate of $26.95 billion.
Key Stats: Pharmaceutical revenues surged 18.5% to $25.14 billion while revenues from Medical segment increased 2.3% to $2.92 billion in the quarter.
Major Factors: Cardinal Health raised its fiscal 2016 adjusted EPS guidance range to $5.15–$5.35 from the previous range of $4.85–$5.05. This new range reflects an 18%–22% growth rate compared to fiscal 2015.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this Cardinal Health earnings report later!
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