Profit beat and increased guidance drive stock gains
- Cardinal Health’s stock rises 1.3% in premarket trading
- Fiscal Q1 profit beats expectations
- Full-year outlook raised
- Adjusted earnings per share rise 44%
- Pharmaceutical revenue increases 11.4%
- Medical revenue matches expectations
- Adjusted EPS guidance range for fiscal 2024 raised
Shares of Cardinal Health Inc. climbed 1.3% in premarket trading after the company reported better-than-expected fiscal first-quarter profit and raised its full-year outlook. Net income for the quarter dropped to $5 million, but adjusted earnings per share rose 44% to $1.73, surpassing the consensus estimate. Revenue grew 10.4% to $54.76 billion, with pharmaceutical revenue increasing by 11.4%. Medical revenue remained flat. Cardinal Health also raised its adjusted EPS guidance range for fiscal 2024. Overall, the strong Q1 results and increased guidance have driven the stock gains.
Factuality Level: 8
Factuality Justification: The article provides specific financial information about Cardinal Health’s fiscal first-quarter profit and revenue, as well as its adjusted earnings per share. The information is sourced from the company’s official report and compared to FactSet consensus estimates. There is no apparent bias or opinion presented in the article.
Noise Level: 3
Noise Justification: The article provides a straightforward report on Cardinal Health’s financial performance, including its profit, revenue, and adjusted earnings per share. It also mentions the company’s raised guidance for fiscal 2024. However, there is no analysis or exploration of long-term trends, antifragility, or accountability. The article stays on topic and supports its claims with data and examples, but it lacks actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Shares of 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. It provides information on the company’s fiscal first-quarter profit, revenue, and adjusted earnings per share. There is no mention of any extreme events.
Public Companies: Cardinal Health Inc. (CAH)
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