Cardinal Health Surpasses Q4 Expectations, Raises FY25 Guidance; Stock Up 5%

Aug 14, 2024, 12:00 PM

Cardinal Health reported its fourth-quarter and fiscal year 2024 results, surpassing market expectations and subsequently raising its fiscal year 2025 guidance. The company announced a non-GAAP adjusted earnings per share (EPS) of $1.84, exceeding the estimated $1.73, marking a 29% increase year-over-year. Revenue for the quarter reached $59.9 billion, surpassing the forecasted $58.54 billion and reflecting a 12% year-over-year growth. Cardinal Health also reported a GAAP diluted EPS of $0.96. The fiscal year 2025 adjusted EPS guidance was raised to a range of $7.55 to $7.70, up from the previous estimate of at least $7.50. This optimistic outlook is driven by strong demand for branded and specialty medicines in its pharmaceuticals unit. The company's stock rose by 5%, and by 6.30% in pre-market trading, following the earnings announcement.