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Thursday, February 8, 2018

=Cardinal Health (CAH) reported earnings on Thur 8 Feb 2018 (b/o)

Cardinal Health beats by $0.15, beats on revs; guides FY18 EPS above consensus 
  • Reports Q2 (Dec) earnings of $1.31 per share, excluding non-recurring items, $0.15 better thanthe Capital IQ Consensus of $1.16; revenues rose 6.1% year/year to $35.19 bln vs the $34.63 bln Capital IQ Consensus.
  • "Overall, we are very pleased with the quarter," said Mike Kaufmann, CEO of Cardinal Health. "Our Pharmaceutical Distribution business performed better than expected, and we continue to see strong growth in Specialty Solutions. In the Medical segment, the integration of the Patient Recovery business is progressing as planned, and we are excited by the opportunities in that business. In addition, we remain encouraged by how well our value proposition is resonating with customers... As we look to the remainder of the year," Kaufmann continued, "we anticipate our overall operating performance to be as expected."
  • Co issues upside guidance for FY18, sees EPS of $5.25-$5.50, excluding non-recurring items, vs. $5.16 Capital IQ Consensus Estimate.  The guidance reflects $0.40 per share of benefit from the lower federal rate due to U.S. tax reform. 
  • The Cardinal Health board of directors approved a new authorization to repurchase up to $1 billion of Cardinal Health common shares, which will expire on Dec. 31, 2020. With this new authorization, Cardinal Health is now authorized to repurchase up to $1.3 billion of its common shares. 

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