Cardinal: Fiscal 1Q Earnings Snapshot
DUBLIN, Ohio (AP) _ Cardinal Health Inc. (CAH) on Thursday reported fiscal first-quarter earnings of $593 million.
On a per-share basis, the Dublin, Ohio-based company said it had net income of $1.94. Earnings, adjusted for one-time gains and costs, were $1.29 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The prescription drug distributor posted revenue of $35.21 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $33.54 billion.
Cardinal expects full-year earnings in the range of $4.90 to $5.15 per share.
Cardinal shares have dropped 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. The stock has declined 11 percent in the last 12 months.