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.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100