Revenue Growth - Revenue increased 9% to $54.9 billion in Q3 FY24 compared to Q3 FY23[1][3] - Revenue for Q3 2024 increased by 9% to $54.911 billion compared to $50.487 billion in Q3 2023[20] - Year-to-date revenue for 2024 increased by 10% to $167.119 billion compared to $151.559 billion in 2023[20] - Pharmaceutical and Specialty Solutions segment revenue increased 9% to $50.7 billion in Q3 FY24[5] - Other segment revenue increased 14% to $1.2 billion in Q3 FY24[8] - Pharmaceutical and Solutions segment revenue grew 9% YoY to $50,651 million in Q3 2024[26] - Global Medical Products and Distribution segment revenue grew 4% YoY to $3,113 million in Q3 2024[26] - Year-to-date revenue for Pharmaceutical and Solutions segment grew 11% YoY to $154,524 million[27] - Year-to-date revenue for Global Medical Products and Distribution segment grew 1% YoY to $9,264 million[27] Non-GAAP Financial Performance - Non-GAAP operating earnings increased 10% to $666 million in Q3 FY24[1][3] - Non-GAAP diluted EPS increased 20% to $2.08 in Q3 FY24[1][3] - Fiscal year 2024 non-GAAP EPS guidance raised to $7.30 to $7.40[1][9] - Preliminary fiscal year 2025 non-GAAP EPS guidance of at least $7.50[1][10] - Non-GAAP net earnings for Q3 2024 were $509 million, a 14% increase YoY[32] - Non-GAAP diluted EPS for Q3 2024 was $2.08, a 20% increase YoY[32] - Non-GAAP operating earnings for the nine months ended March 31, 2024, were $1,799 million, with a 20% effective tax rate, resulting in a diluted EPS of $5.62, a 33% increase year-over-year[35] - Non-GAAP operating earnings for the nine months ended March 31, 2023, were $1,497 million, with a 21% effective tax rate, resulting in a diluted EPS of $4.24[35] Segment Performance - Pharmaceutical and Specialty Solutions segment profit growth outlook updated to 8.5% to 9.5% for FY24[9] - Global Medical Products and Distribution segment profit increased $66 million to $20 million in Q3 FY24[6][7] - Global Medical Products and Distribution segment profit expected to be ~$175 million in FY25[11] - Impairment charges for the GMPD segment were $90 million in Q3 2024 and $671 million year-to-date[20] - The company recognized a cumulative pre-tax goodwill impairment charge of $671 million related to the GMPD segment for the nine months ended March 31, 2024, with an estimated net tax benefit of $56 million[35] - The company recognized a cumulative pre-tax goodwill impairment charge of $863 million related to the GMPD segment for the nine months ended March 31, 2023, with a net tax benefit of $68 million[35] GAAP Financial Performance - Net earnings for Q3 2024 decreased by 25% to $259 million compared to $347 million in Q3 2023[20] - GAAP net earnings for Q3 2024 were $258 million, a 25% decrease YoY[31] - GAAP diluted EPS for Q3 2024 was $1.05, a 22% decrease YoY[31] - GAAP operating earnings for the nine months ended March 31, 2024, were $835 million, with a 42% effective tax rate, resulting in a diluted EPS of $2.49[35] - GAAP operating earnings for the nine months ended March 31, 2023, were $590 million, with a 36.7% effective tax rate, resulting in a diluted EPS of $1.23[35] Cash Flow and Liquidity - Cash and equivalents decreased to $3.718 billion as of March 31, 2024, from $4.043 billion as of June 30, 2023[22] - Net cash provided by operating activities in Q3 2024 was -$49 million, compared to $1,361 million in Q3 2023[25] - GAAP net cash provided by operating activities for the nine months ended March 31, 2024, was $1,685 million, compared to $1,981 million for the same period in 2023[37] - Non-GAAP adjusted free cash flow for the nine months ended March 31, 2024, was $2,128 million, compared to $2,090 million for the same period in 2023[37] - The company excluded $246 million in payments related to litigation recoveries/charges from non-GAAP adjusted free cash flow for the third quarter of 2024[37] Balance Sheet Changes - Total current assets increased to $35.734 billion as of March 31, 2024, from $33.833 billion as of June 30, 2023[22] - Total liabilities increased to $45.880 billion as of March 31, 2024, from $43.417 billion as of June 30, 2023[23] - Accounts payable increased to $32.089 billion as of March 31, 2024, from $29.813 billion as of June 30, 2023[23] - Total shareholders' deficit increased to $3.262 billion as of March 31, 2024, from $2.851 billion as of June 30, 2023[23] Gross Margin and Operating Earnings - Gross margin for Q3 2024 increased by 9% to $1.947 billion compared to $1.785 billion in Q3 2023[20] - Non-GAAP gross margin excludes LIFO charges/(credits)[44] - Non-GAAP SG&A excludes state opioid assessment related to prior fiscal years and shareholder cooperation agreement costs[44] - Non-GAAP operating earnings exclude LIFO charges/(credits), state opioid assessment, shareholder cooperation agreement costs, restructuring and employee severance, amortization and other acquisition-related costs, impairments and (gain)/loss on disposal of assets, net, and litigation (recoveries)/charges, net[44] Non-GAAP Adjustments and Definitions - The company's non-GAAP financial measures exclude items such as LIFO charges, state opioid assessments, shareholder cooperation agreement costs, restructuring costs, and acquisition-related costs to provide a clearer view of ongoing business performance[39] - Segment Profit is calculated as segment revenue minus segment cost of products sold and segment distribution, selling, general and administrative expenses[44] - Segment Profit margin is derived by dividing segment profit by segment revenue[44] - Non-GAAP earnings before income taxes exclude LIFO charges/(credits), state opioid assessment, shareholder cooperation agreement costs, restructuring and employee severance, amortization and other acquisition-related costs, impairments and (gain)/loss on disposal of assets, net, litigation (recoveries)/charges, net, and loss on early extinguishment of debt[44] - Non-GAAP net earnings attributable to Cardinal Health, Inc. exclude LIFO charges/(credits), state opioid assessment, shareholder cooperation agreement costs, restructuring and employee severance, amortization and other acquisition-related costs, impairments and (gain)/loss on disposal of assets, net, litigation (recoveries)/charges, net, and loss on early extinguishment of debt, each net of tax[44] - Non-GAAP effective tax rate adjusts for the tax impacts of LIFO charges/(credits), state opioid assessment, shareholder cooperation agreement costs, restructuring and employee severance, amortization and other acquisition-related costs, impairments and (gain)/loss on disposal of assets, net, litigation (recoveries)/charges, net, and loss on early extinguishment of debt[44] - Non-GAAP diluted earnings per share attributable to Cardinal Health, Inc. is calculated by dividing non-GAAP net earnings attributable to Cardinal Health, Inc. by diluted weighted-average shares outstanding[44] - Non-GAAP adjusted free cash flow is net cash provided by/(used in) operating activities less payments related to additions to property and equipment, excluding settlement payments and receipts related to litigation (recoveries)/charges, net, or other significant and unusual or non-recurring cash payments or receipts[44]

Revenue increased 9% to $54.9 billion GAAP1 operating earnings were $367 million; GAAP diluted EPS was $1.05 Non-GAAP operating earnings increased 10% to $666 million; non-GAAP diluted EPS increased 20% to $2.08 Fiscal year 2024 non-GAAP EPS guidance2 raised and narrowed to $7.30 to $7.40, from $7.20 to $7.35 Company provides preliminary fiscal year 2025 non-GAAP EPS guidance of at least $7.50 DUBLIN, Ohio, May 2, 2024  /PRNewswire/ -- Cardinal Health (NYSE: CAH) today reported third quarter fiscal year 2 ...

Investing for retirement can be one of the most essential steps to securing a future of overall financial stability. Nowadays, many investors need to start preparing a nest egg at a young age despite the idea of retirement seeming unnecessary.This preplanned and deliberate course of action proves the easiest route to financial freedom at an older age. And, the stock market can be a great facilitator of that goal.Therefore, let’s examine three stocks that interest investors. They are long-term investment opt ...

Cardinal Health, Inc. (CAH) is scheduled to report third-quarter fiscal 2024 results on May 2, before the opening bell.In the last reported quarter, the company delivered an earnings surprise of 16.67%. CAH’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 15.64%.Q3 EstimatesFor the fiscal third quarter, the consensus mark for earnings is pegged at $1.95 per share, indicating an improvement of 12.1% from the prior-year quarter’s reported fi ...

Are we headed for a repeat of 2022’s brutal selloff? While no one can predict the future with certainty, current market trends are raising some ominous red flags. After a meteoric rally fueled by the AI craze, many investors seem to be taking profits off the table. And who can blame them? The surge we’ve witnessed is eerily reminiscent of the 2021 rally.And let’s not forget the potential domino effect for certain sectors. With tech and AI stocks commanding such hefty weightings in the major indexes, a sello ...

Cardinal Health (CAH) ended the recent trading session at $103.37, demonstrating a +0.53% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.2%. Elsewhere, the Dow saw an upswing of 0.69%, while the tech-heavy Nasdaq appreciated by 1.59%.The the stock of prescription drug distributor has fallen by 7.37% in the past month, lagging the Medical sector's loss of 5.82% and the S&P 500's loss of 4.16%.The investment community will be closely monitoring the ...

Cardinal Health (CAH) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this prescription drug distributor have returned -7.4%, compared to the Zacks S&P 500 composite's -4.2% change. During this period, the Zacks Medical - Dental Supplies industry, which Cardinal falls in, has lost 4.2%. The key question now is: What could be the stock's future direction?W ...

DUBLIN, Ohio, April 22, 2024 /PRNewswire/ -- Cardinal Health (NYSE: CAH) announced today that its pharmaceutical distribution contracts with OptumRx, which expire at the end of June 2024, will not be renewed. The company reaffirmed its fiscal 2024 non-GAAP diluted EPS guidance of $7.20 to $7.35. Despite the nonrenewal of the OptumRx contracts, the company also reiterated both its Pharmaceutical and Specialty Solutions long-term segment profit CAGR target of 4% to 6% and its consolidated non-GAAP EPS CAGR ta ...

champpixs CAH is overvalued Cardinal Health (NYSE:CAH) caught our attention recently when we were screening for stocks with yields noticeably outside their normal range. And CAH really caught our attention because its dividend yield is currently way out of its historical range. As you can clearly see from the charts below, its current yield of 1.88% is among the lowest levels in at least 5 years. It is lower than its 5-year average yield of 3.25% by a whopping 42%, implying substantial overvaluation. Other ...

Cardinal Health (CAH) closed the most recent trading day at $107.03, moving +1.84% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.2%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 1.79%.The prescription drug distributor's stock has dropped by 4.98% in the past month, exceeding the Medical sector's loss of 6.57% and lagging the S&P 500's loss of 0.85%.Market participants will be closely following the financial result ...