Company reports lower net income but raises profit outlook
- Cardinal Health’s stock falls 1.2% after mixed quarterly results
- Net income of $258 million, down from $345 million in the year-earlier period
- Adjusted earnings per share of $2.08, beating the FactSet consensus of $1.95
- Revenues totaled $54.9 billion, missing the FactSet consensus of $56.05 billion
- Cardinal Health raises full-year profit outlook
- Boosts fiscal year 2024 adjusted earnings per share guidance
- Provides preliminary guidance on fiscal year 2025
Cardinal Health Inc.’s shares fell 1.2% premarket on Thursday after the company reported mixed results for its fiscal third quarter. The drug distributor and lab-equipment provider saw a decrease in net income, with $258 million compared to $345 million in the year-earlier period. However, adjusted earnings per share came in at $2.08, beating the FactSet consensus of $1.95. Revenues for the quarter totaled $54.9 billion, missing the FactSet consensus of $56.05 billion. Despite the mixed results, Cardinal Health raised its full-year profit outlook and provided preliminary guidance for fiscal year 2025. The company’s stock has gained 1.4% year to date, while the S&P 500 is up 5.2%.
Factuality Level: 8
Factuality Justification: The article provides specific details about Cardinal Health Inc.’s financial performance, including net income, earnings per share, and revenue figures. It also mentions the company’s updated profit outlook for the full year and future projections. The information is based on factual data and financial reports, without any apparent bias or misleading statements.
Noise Level: 3
Noise Justification: The article provides relevant information about Cardinal Health Inc.’s financial performance, including net income, earnings per share, and revenue figures. It also includes details about the company’s outlook for the full year and future projections. The article stays on topic and supports its claims with data and examples. However, it lacks in-depth analysis, accountability, or insights into long-term trends or antifragility.
Financial Relevance: Yes
Financial Markets Impacted: Cardinal Health Inc.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Cardinal Health Inc., a drug distributor and lab-equipment provider. It discusses the company’s mixed results for its fiscal third quarter and its raised full-year profit outlook. There is no mention of any extreme events or their impact.
Public Companies: Cardinal Health Inc. (CAH)
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