Cardinal Health Reports Strong Q4 Earnings

Cardinal Health (ticker: CAH) has exceeded earnings expectations for its fourth quarter and has raised its full-year earnings guidance, driven by the success of its pharmaceutical division. The company's pharmaceutical segment, which produces and sources specialty products such as vaccines and antivirals, performed exceptionally well.

In Q4, Cardinal Health reported earnings of $1.55 per share on revenue totaling $53.5 billion. This surpassed analysts' predictions of $1.49 per share on revenue of $52.7 billion, according to FactSet.

CEO Jason Hollar expressed his satisfaction with the company's performance, stating, "We are pleased with the strong finish to the year, including robust cash flow generation, continued strong growth in the Pharmaceutical segment, and significant improvement in the Medical segment."

The pharmaceutical segment generated $49.7 billion in revenue during the fourth quarter, surpassing Wall Street estimates of $49.1 billion. Meanwhile, the medical segment recorded revenue of $3.8 billion, surpassing the consensus forecast of $3.7 billion.

Additionally, Cardinal Health has increased its full-year earnings guidance by 5 cents per share, now projecting a range of $6.50 to $6.75 per share.

Following this positive news, shares of Cardinal Health climbed by 0.5% to reach $93.45 during premarket trading on Tuesday. Thus far in 2023, the stock has experienced a 21% increase.