Cardinal Health 1Q Profit Surges on Growth in Pharmaceuticals Business
November 08 2018 - 8:14AM
Dow Jones News
By Kimberly Chin
Cardinal Health Inc. (CAH) posted Thursday a more than fivefold
surge in first-quarter profit, led by growth in its pharmaceuticals
business despite generic drug competition pressures.
The Dublin, Ohio, company said profit was $593 million, or $1.94
a share, up from $115 million, or 36 cents a share, from a year
earlier. Analysts were expecting the company to earn 69 cents a
share, according to a Refinitiv poll.
On an adjusted basis, the company made $1.29 a share. Analysts
expected $1.08 a share.
Sales increased 8% to $35.2 billion from the year prior, above
the $33.65 billion estimated from analysts polled by Refinitiv.
Sales from its pharmaceuticals segment rose 9%, while sales in its
medical segment increased 2%.
The company reaffirmed its expectations of adjusted earnings of
$4.90 to $5.15 a share for the year.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
November 08, 2018 07:59 ET (12:59 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Cardinal Health (NYSE:CAH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cardinal Health (NYSE:CAH)
Historical Stock Chart
From Apr 2023 to Apr 2024