Cardinal Health (CAH) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this prescription drug distributor have returned -6.9% over the past month versus the Zacks S&P 500 composite's +5% change. The Zacks Medical - Dental Supplies industry, to which Cardinal belongs, has gained 0.6% over this period. Now the key question is: Where could the stock be headed ...

Cardinal Health, Inc. (NYSE:CAH) BofA Securities 2024 Health Care Conference May 14, 2024 11:00 AM ET Company Participants Jason Hollar - Chief Executive Officer Aaron Alt - Chief Financial Officer Conference Call Participants Unidentified Analyst CEO, Jason Hollar and CFO, Aaron Alt. First off, thank you both for joining us today. Now, Jason, you've been with the company since COVID began and we're finally entering a more normalized operating environment. And I guess as we sit here today, what are you most ...

Cardinal Health (CAH) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this prescription drug distributor have returned -10% over the past month versus the Zacks S&P 500 composite's -1.6% change. The Zacks Medical - Dental Supplies industry, to which Cardinal belongs, has lost 4.9% over this period. Now the key question is: Where could the stock be headed in the near te ...

Core Insights - Cardinal Health reported revenue of $54.91 billion for the quarter ended March 2024, reflecting an 8.8% increase year-over-year, but a -1.63% miss against the Zacks Consensus Estimate of $55.82 billion [1] - The earnings per share (EPS) for the quarter was $2.08, up from $1.74 in the same quarter last year, resulting in a positive surprise of +6.67% compared to the consensus estimate of $1.95 [1] Revenue Breakdown - Pharmaceutical revenue was $50.65 billion, which is an 8.2% increase year-over-year but below the average estimate of $51.89 billion from four analysts [2] - Medical revenue was reported at $3.11 billion, significantly lower than the estimated $3.61 billion, representing a -15.5% change year-over-year [2] - Corporate revenue showed a loss of -$20 million, better than the average estimate of -$2.73 million, with a year-over-year change of +233.3% [2] Segment Profit Analysis - Medical segment profit was $20 million, falling short of the average estimate of $103.19 million from four analysts [2] - Pharmaceutical segment profit was $580 million, also below the estimated $606.65 million from four analysts [2] Stock Performance - Cardinal Health's shares have returned -7.9% over the past month, compared to a -4.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Q3 FY24 Earnings Cardinal Health, Inc. May 2, 2024 ...

Cardinal Health, Inc. (NYSE:CAH) Q3 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants Matt Sims - VP, IR Jason Hollar - CEO Aaron Alt - CFO Conference Call Participants Lisa Gill - JP Morgan Michael Cherny - Leerink Partners George Hill - Deutsche Bank Allen Lutz - Bank of America Kevin Caliendo - UBS Eric Percher - Nephron Research Stephanie Davis - Barclays Eric Coldwell - Baird Elizabeth Anderson - Evercore ISI Stephen Baxter - Wells Fargo Lucas Romanski - TD Cowen Daniel Grosslig ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |--------------------------------------------------------------------------------------------|-----------------------------------| | For the transition period from | __ ...

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]

Core Insights - Cardinal Health reported a 9% increase in revenue for Q3 FY24, reaching $54.9 billion compared to $50.5 billion in Q3 FY23 [1][2] - Non-GAAP diluted EPS rose 20% to $2.08, while GAAP diluted EPS decreased by 22% to $1.05 due to a $90 million goodwill impairment [1][2] - The company raised its FY24 non-GAAP EPS guidance to a range of $7.30 to $7.40 and provided preliminary guidance for FY25 of at least $7.50 [1][6] Financial Performance - Q3 FY24 revenue for the Pharmaceutical and Specialty Solutions segment increased 9% to $50.7 billion, with segment profit rising 4% to $580 million [1][3] - The Global Medical Products and Distribution segment saw a 4% revenue increase to $3.1 billion, with segment profit improving to $20 million from a loss of $46 million [1][4] - Other segment revenue grew 14% to $1.2 billion, with segment profit increasing 5% to $111 million [1][5] Fiscal Year 2024 Outlook - The company updated its FY24 guidance for the Pharmaceutical and Specialty Solutions segment profit growth to 8.5% to 9.5% [1][6] - The non-GAAP effective tax rate guidance was adjusted to a range of 22% to 23% [1][6] Preliminary Fiscal Year 2025 Outlook - Cardinal Health anticipates non-GAAP diluted EPS of at least $7.50 for FY25 [6] - Segment profit growth for Pharmaceutical and Specialty Solutions is expected to continue, with Global Medical Products and Distribution projected to achieve approximately $175 million in segment profit [6][7] Recent Highlights - The company completed the acquisition of Specialty Networks, enhancing its multi-specialty platform [8] - Cardinal Health was recognized for its supply chain resiliency and received accolades for its leadership in the healthcare industry [8] - The company released its Fiscal 2023 Environmental, Social and Governance (ESG) Report, highlighting its commitment to sustainability [8]

Group 1: Cardinal Health (CAH) - Cardinal Health is a large healthcare distribution company targeting hospitals, surgery centers, laboratories, and physician facilities [2] - The share price increased by approximately 25% over the past year due to a solid business model and increased demand for generic drug products [2] - In Q2 of 2024, total revenue grew by 12% year-over-year, with net income rising from a loss of $130 million in Q2 of 2023 to $354 million in Q2 of 2024 [2] - The company raised its earnings per share guidance for fiscal year 2024 to $7.20 to $7.35, up from the previous projection of $6.75 to $7.00 [2] - Cardinal Health offers a dividend yield of 1.94%, with a consistent increase over nearly three decades [3] - The share price has more than doubled over the past five years, making it a reliable income-generating option [3] Group 2: Toyota Motor (TM) - Toyota Motor manufactures a variety of vehicles, including trucks, vans, sedans, SUVs, electric vehicles (EVs), and luxury models [5] - In Q3 of 2024, total revenue increased by 23%, and net income nearly doubled year-over-year [5] - Toyota raised its total sales expectations to approximately $294 billion from a previous estimate of $290 billion [5] - March sales increased by 22% year-over-year, with EV sales rising by 61% to over 78,000 units, making up slightly over one-third of total sales [5][6] - The share price increased by 66% over the past year and 84% over the past five years, indicating strong growth potential [6] Group 3: Manulife Financial (MFC) - Manulife Financial provides various financial products, including asset management, insurance, and annuities [7] - The company has a strong dividend yield of approximately 4.73%, which has been raised for ten consecutive years [7] - Over the past year, the share price increased by 18% and by 27% over the last five years [7] - In Q4 of 2023, total revenue grew by 15%, and net income rose by 85% year-over-year [8] - Manulife Financial is positioned as a solid opportunity for long-term income generation, particularly for retirement accounts [8]