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Cardinal: Fiscal 4Q Earnings Snapshot

August 8, 2019

DUBLIN, Ohio (AP) _ Cardinal Health Inc. (CAH) on Thursday reported fiscal fourth-quarter net income of $194 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Dublin, Ohio-based company said it had net income of 65 cents. Earnings, adjusted for one-time gains and costs, were $1.11 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The prescription drug distributor posted revenue of $37.35 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $36.9 billion.

For the year, the company reported profit of $1.36 billion, or $4.53 per share. Revenue was reported as $145.53 billion.

Cardinal expects full-year earnings in the range of $4.85 to $5.10 per share.

Cardinal shares have declined 4% since the beginning of the year, while the Standard & Poor’s 500 index has risen 15%. The stock has fallen 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAH at https://www.zacks.com/ap/CAH

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