Cardinal Health shares jump 4% on raised guidance, strong Q4 results

NEW YORK - Cardinal Health (NYSE:CAH ) reported better-than-expected fourth quarter results and raised its fiscal 2025 earnings outlook on Wednesday, sending shares up 4% in early trading.

The healthcare services company posted adjusted earnings per share of $1.84 for the quarter ended June 30, beating analyst estimates of $1.73. Revenue rose 12% year-over-year to $59.9 billion, also topping expectations of $58.64 billion.

Cardinal Health's pharmaceutical segment saw revenue increase 13% to $55.6 billion, driven by brand and specialty pharmaceutical sales growth from existing customers. The medical segment reported a 2% revenue rise to $3.1 billion on volume growth from existing customers.

"Fiscal 2024 marked a year of strong operational execution and record financial results, delivered in tandem with key strategic progress in the portfolio," said CEO Jason Hollar.

For fiscal 2025, Cardinal Health now expects adjusted earnings per share of $7.55 to $7.70, up from its previous outlook of at least $7.50 and above the $7.53 consensus estimate. The company cited momentum and confidence entering the new fiscal year for the improved guidance.

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Source: Investing.com