Cardinal Health(US:CAH) Prnewswireยท2024-05-02 10:45Core 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]