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Cardinal Health (CAH) Misses on Earnings in Q3, Beats Revenue
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Cardinal Health (CAH - Free Report) is a healthcare services company engaged in providing pharmaceutical and medical products and services in the United States and International markets. The company primarily operates in two segments, Pharmaceutical and Medical.
Currently, Cardinal Health has a Zacks Rank #3 (Hold) but that could change following its third-quarter fiscal 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: Cardinal Health’s adjusted earnings decreased 9.2% on a year-over-year basis to $1.39 per share. Notably, the figure missed the Zacks Consensus Estimate of $1.51.
Revenues: Revenues increased 6% on year-over-year basis to almost $33.63 billion, edging past the Zacks Consensus Estimate of $33.60 billion.
Key Stats: Pharmaceutical revenues surged 5% to $29.72 billion while revenues from Medical segment increased 15% to $3.92 billion in the reported quarter.
Pharmaceutical segment revenues increased due to strong growth from the Specialty business and higher number of Pharmaceutical Distribution business customers.
The growth in the Medical segment is was driven by contributions from the acquisition of the Patient Recovery business.
Major Factors: The company reduced its guidance for fiscal 2018 adjusted earnings per share to $4.85-$4.95, significantly lower than the previously issued range of $5.25-$5.50. The downside can be attributed to the company's effective tax rate associated with the Cordis business
Stock Price: Over the last six months, shares of Cardinal Health have outperformed its industry. The stock returned 7.3%, above the industry’s gain of 6.3%.
However, 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!
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Cardinal Health (CAH) Misses on Earnings in Q3, Beats Revenue
Cardinal Health (CAH - Free Report) is a healthcare services company engaged in providing pharmaceutical and medical products and services in the United States and International markets. The company primarily operates in two segments, Pharmaceutical and Medical.
Currently, Cardinal Health has a Zacks Rank #3 (Hold) but that could change following its third-quarter fiscal 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: Cardinal Health’s adjusted earnings decreased 9.2% on a year-over-year basis to $1.39 per share. Notably, the figure missed the Zacks Consensus Estimate of $1.51.
Revenues: Revenues increased 6% on year-over-year basis to almost $33.63 billion, edging past the Zacks Consensus Estimate of $33.60 billion.
Key Stats: Pharmaceutical revenues surged 5% to $29.72 billion while revenues from Medical segment increased 15% to $3.92 billion in the reported quarter.
Pharmaceutical segment revenues increased due to strong growth from the Specialty business and higher number of Pharmaceutical Distribution business customers.
The growth in the Medical segment is was driven by contributions from the acquisition of the Patient Recovery business.
Cardinal Health, Inc. Price and EPS Surprise
Cardinal Health, Inc. Price and EPS Surprise | Cardinal Health, Inc. Quote
Major Factors: The company reduced its guidance for fiscal 2018 adjusted earnings per share to $4.85-$4.95, significantly lower than the previously issued range of $5.25-$5.50. The downside can be attributed to the company's effective tax rate associated with the Cordis business
Stock Price: Over the last six months, shares of Cardinal Health have outperformed its industry. The stock returned 7.3%, above the industry’s gain of 6.3%.
However, 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!
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>