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 #4 (Sell) but that could change following its first-quarter fiscal 2019 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 increased 18% on a year-over-year basis to $1.29 per share. Notably, the figure beat the Zacks Consensus Estimate of $1.06.
Revenues:Revenues increased 7.9% on a year-over-year basis to $35.21 billion and beat the Zacks Consensus Estimate of $33.54 billion.
Key Stats:Pharmaceutical revenues surged 8.6% to $31.42 billion while revenues from Medical segment increased 2.1% to $3.80 billion in the reported quarter.
Major Factor:The company reiterated its adjusted earnings guidance for fiscal 2019. Adjusted earnings from continuing operations are expected to be $4.90 to $5.15.
Stock Price:Following the earnings release, share prices of Cardinal Health moved up 8.7% to $58.30 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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