- Cardinal Health Inc (NYSE:CAH) has reported Q3 FY22 adjusted EPS of $1.45, down 5% Y/Y, missing the consensus of $1.52
- Q2 sales increased 14% Y/Y to $44.8 billion, beating the consensus estimate of $43.16 billion.
- The pharmaceutical segment increased 17% to $41 billion, driven primarily by branded pharmaceutical sales growth from large Pharmaceutical Distribution and Specialty customers.
- The medical segment sales decreased 7% to $3.9 billion due to the divestiture of the Cordis business and lower products and distribution volumes, which includes the impact of global supply chain constraints.
- Related: Washington, Drug Distributors Reach $518M Settlement For Opioid Claims.
- Outlook: For FY22, Cardinal Health revised adjusted EPS guidance to $5.15 - $5.25 from the previous guidance of $5.15 - $5.50, compared to the consensus of $5.29.
- The company also updated the Medical segment profit outlook to a 45% - 55% decline, from 30% - 45%. The outlook includes a year-over-year net incremental headwind of nearly $300 million due to inflationary and global supply chain constraint impacts.
- Price Action: CAH shares are down 3.75% at $58.22 on the last check Thursday.
