Cardinal Health Updated FY24 Adj EPS Guidance to High End of $6.75-$7.00 Vs $6.95 Est, Sees Execution of a New $250M Accelerated Share Repurchase Program in Q2, Reiterated its Long-Term Targets Reflecting 12%-14% Growth of Adj EPS
Portfolio Pulse from Benzinga Newsdesk
Cardinal Health has updated its FY24 adjusted EPS guidance to the higher end of the $6.75-$7.00 range, exceeding the $6.95 estimate. The company also plans to execute a new $250M accelerated share repurchase program in Q2. Cardinal Health reiterated its long-term targets, aiming for a 12%-14% growth in adjusted EPS. The update is attributed to strong cash flow generation leading to higher cash balances and favorable fiscal conditions.
January 09, 2024 | 11:52 am
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Cardinal Health has raised its FY24 adjusted EPS guidance to the higher end of its previously stated range and announced a $250M accelerated share repurchase program, indicating strong financial performance and commitment to shareholder returns.
The upward revision of EPS guidance and the announcement of a substantial share repurchase program are both positive signals to investors, typically leading to increased investor confidence and upward pressure on the stock price in the short term.
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