Cardinal Health Q4 Earnings Surpass Estimates, Raises 2024 Forecast
Portfolio Pulse from Vandana Singh
Cardinal Health Inc reported Q4 FY23 adjusted EPS of $1.55, up 48% Y/Y, beating the consensus of $1.48. Sales increased 13% to $53.45 billion, beating the consensus of $52.41 billion. The company raised its FY24 adjusted EPS guidance to $6.50-$6.75 from prior guidance of $6.45-$6.70. In June, Cardinal Health inked a pact to contribute its Outcomes business to Transaction Data Systems, a portfolio company of BlackRock Long Term Private Capital and GTCR, in exchange for a minority stake in the combined entity.
August 15, 2023 | 1:41 pm
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Cardinal Health's Q4 earnings beat estimates and the company raised its FY24 guidance. This could lead to increased investor confidence and a potential rise in stock price.
Cardinal Health's better-than-expected Q4 results and raised guidance for FY24 indicate strong performance and positive outlook, which are likely to boost investor confidence and potentially drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100