Cardinal Health Narrows FY23 Adjusted EPS Guidance To $5.65-$5.80 From $5.60-$5.80 Vs. Consensus Of $5.73; Provides Preliminary FY24 Adjusted EPS Guidance Of $6.45-$6.70 Vs. Consensus Of $6.51
Portfolio Pulse from Benzinga Newsdesk
Cardinal Health has narrowed its FY23 adjusted EPS guidance to $5.65-$5.80 from $5.60-$5.80, with a consensus of $5.73. The company also provided preliminary FY24 adjusted EPS guidance of $6.45-$6.70, compared to a consensus of $6.51. The Board of Directors approved a new $3.5 billion share repurchase authorization, with plans to execute at least $2.0 billion of share repurchases over the next three years.
June 08, 2023 | 11:00 am
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Cardinal Health's narrowed FY23 EPS guidance and new $3.5 billion share repurchase authorization may positively impact its stock price.
Cardinal Health's narrowed FY23 EPS guidance indicates a more focused outlook, which may be seen as a positive sign by investors. Additionally, the new $3.5 billion share repurchase authorization and plans to execute at least $2.0 billion of share repurchases over the next three years signal the company's confidence in its financial position and commitment to returning value to shareholders, which could lead to a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100