09.05.2019 13:45:26
|
Cardinal Health Q3 Results Beat View; Raises 2019 Profit View
(RTTNews) - Cardinal Health Inc. (CAH) Thursday reported a profit for the third quarter fiscal year 2019 that increased 16 percent from last year, while quarterly revenue rose 5 percent.
Both adjusted earnings and revenue beat analysts' estimates.
The company raised the lower end of its fiscal 2019 non-GAAP earnings per share guidance to a range of $5.02 - $5.17 from the range of $4.97 - $5.17. Analysts expect annual earnings of $5.08 per share.
The company reported that its net earnings attributable to the company for third quarter fiscal year 2019 grew 16 percent to $296 million from last year's $255 million, with earnings per share improving to $0.99 from $0.81 in the previous year.
During the third quarters of fiscal 2019 and 2018, GAAP effective tax rates were 20.0 percent and 45.1 percent, respectively, and non-GAAP effective tax rates were 21.6 percent and 37.5 percent, respectively.
The lower effective tax rates for the latest-quarter included net favorable discrete items of $0.06 per share and a lower U.S. federal income tax rate. During the same quarter last year, the tax rate included unfavorable discrete items and a significant negative impact from Cordis.
Non-GAAP earnings per share for the quarter increased 14 percent to $1.59 from $1.39 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.43 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter grew 5 percent to $35.23 billion from $33.63 billion in the previous year. Analysts expected revenues of $35.20 billion for the quarter.
Quarterly revenue for the Pharmaceutical segment increased 6 percent to $31.4 billion due to sales growth from Pharmaceutical Distribution and Specialty Solutions customers.
Third quarter revenue for the Medical segment was down 1 percent due to the divestitures of the China distribution and naviHealth businesses, offset by growth from existing customers.
In the pre-market trade, CAH is trading at $50.00, up $0.31 or 0.62 percent.

Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu Cardinal Health Inc.mehr Nachrichten
Analysen zu Cardinal Health Inc.mehr Analysen
Aktien in diesem Artikel
Cardinal Health Inc. | 122,30 | 1,03% |
|