Welcome to our dedicated page for Cardinal Health news (Ticker: CAH), a resource for investors and traders seeking the latest updates and insights on Cardinal Health stock.
Cardinal Health, Inc. (NYSE: CAH) is a global leader in integrated healthcare services and products. With nearly 100 years of experience, the company stands as a pillar in the healthcare industry, ranking among the top 25 on the Fortune 500 list. Cardinal Health offers a comprehensive suite of services that cater to hospital systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices worldwide.
Operating through two main segments—Pharmaceuticals and Medical—Cardinal Health provides clinically-proven medical products and pharmaceuticals, alongside cost-effective solutions that enhance supply chain efficiency. The company is a major distributor of branded, generic, and specialty pharmaceutical products to a wide array of clients, including retail chains, independent pharmacies, hospital networks, and healthcare providers.
Recently, Cardinal Health reported strong financial results for Q2 FY2024, with a 12% increase in revenue to $57.4 billion. The company also saw significant growth in both its Pharmaceutical and Medical segments, driven by robust sales of brand and specialty pharmaceuticals, as well as improvements in at-Home Solutions and Global Medical Products and Distribution. CEO Jason Hollar highlighted the company's operational execution and strategic priorities, which include tech-enabled specialty acquisitions and a focus on supply chain resiliency.
Cardinal Health is also committed to sustainability and corporate responsibility. The company recently released its Fiscal 2023 Environmental, Social and Governance (ESG) Report, emphasizing long-term value creation through sustainable practices. The company has received approval from the Science Based Targets initiative (SBTi) for its ambitious greenhouse gas (GHG) emissions reduction targets. By FY2023, Cardinal Health had already reduced its Scope 1 and 2 emissions by 13% from a FY2019 base year.
In terms of infrastructure, Cardinal Health is expanding its logistics capabilities. The company has commenced construction on a new 350,000 square-foot Consumer Health Logistics Center in Columbus, Ohio, designed to support the distribution of over-the-counter consumer health products. This facility, expected to be operational by Summer 2025, will create approximately 100 new jobs and enhance Cardinal Health's supply chain agility.
Despite challenges such as the non-renewal of its pharmaceutical distribution contracts with OptumRx, Cardinal Health remains resilient. The company reaffirmed its fiscal 2024 non-GAAP diluted EPS guidance and is confident in its long-term growth targets.
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Cardinal Health (NYSE: CAH) has announced a quarterly dividend of $0.4908 per share, reflecting its ongoing commitment to shareholder returns. This dividend will be payable on April 15, 2022, to shareholders of record as of April 1, 2022. With extensive operations across over 30 countries and approximately 44,000 employees, Cardinal Health plays a vital role in healthcare by providing pharmaceutical distribution and medical products. This announcement signifies a continued effort to maintain steady income for investors.
Cardinal Health released its 2022 Biosimilars Report, highlighting the current state and future prospects of biosimilars in the U.S. The report suggests that 2022 may be pivotal as biosimilars expand into new therapeutic areas. It presents survey data from over 320 healthcare providers, revealing a moderate readiness to discuss biosimilars among pharmacists, with only 40% feeling adequately prepared. The report includes anticipated market trends, payer coverage, and predictions for the biosimilars landscape through 2029.
Cardinal Health (CAH) reported its Q2 FY22 revenues at $45.5 billion, up 9% year-over-year, despite a GAAP operating loss of $950 million due to a $1.3 billion goodwill impairment in the Medical segment. Non-GAAP operating earnings dropped 26% to $467 million, reflecting the impact of inflation and supply chain issues. The company revised its FY2022 non-GAAP diluted EPS guidance to $5.15 to $5.50, acknowledging a significant decline in Medical segment profits and heightened inflationary pressures.
Ember Technologies and Cardinal Health (CAH) have announced a groundbreaking partnership to introduce the Ember Cube, the world's first self-refrigerated, cloud-based shipping box designed for temperature-sensitive medicines. This innovative shipping solution addresses the growing need for secure, sustainable cold chain logistics, as global spending is projected to exceed $21 billion by 2024. The Ember Cube features advanced tracking capabilities, real-time temperature monitoring, and reusable technology, significantly reducing waste from traditional packaging methods. A customer pilot is set for 2022.
Cardinal Health (NYSE: CAH) reported a fiscal year 2022 update, projecting an additional $150 million to $175 million hit to Medical segment profits due to ongoing inflation and supply chain constraints. This translates to an estimated $0.40 to $0.45 loss per share in non-GAAP diluted EPS. The company reassured that other financial expectations remain unchanged. Cardinal Health is committed to enhancing its Medical segment through operational simplification and growth investments. A presentation at the J.P. Morgan Healthcare Conference is scheduled for today.
Cardinal Health (NYSE: CAH) will release its second-quarter financial results for fiscal year 2022 on February 3 before the market opens. The company will host a webcast at 8:30 a.m. Eastern to discuss these results. Additionally, CEO Mike Kaufmann is scheduled to present at the 40th Annual J.P. Morgan Healthcare Conference on January 10. The webcast and presentation slides will be accessible on the Investor Relations page until February 2, 2023.
AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK) have extended the deadline for political subdivisions to join the proposed opioid settlement from January 2, 2022, to January 26, 2022. New Mexico confirmed its participation, raising total states in the settlement to 43, covering all U.S. territories and Washington, D.C. The deadline to assess sufficient participation has also been moved from February 1, 2022, to February 25, 2022. The companies aim to expedite relief to affected communities and remain committed to addressing the opioid crisis.
Cardinal Health has announced the launch of WaveMark™ Supply Management and Workflow Solutions for clinical labs across the U.S. This solution aims to automate inventory tracking, thereby easing workforce strain and improving operational efficiency. It enables faster test result delivery, crucial for timely diagnoses and treatments. WaveMark is designed to save staff time with automated alerts for inventory needs and product recalls. Currently, it is utilized in over 2,500 operating rooms in more than 300 hospitals. More details can be found on Cardinal Health's website.
Cardinal Health (NYSE: CAH) reported Q1 FY22 revenues of $44.0 billion, a 13% increase year-over-year. GAAP operating earnings were $415 million, contrasting with a $624 million loss in the prior year. However, non-GAAP operating earnings decreased 15% to $527 million. The Medical segment saw a 46% decline in profit due to rising supply chain costs. The company reaffirmed its full-year non-GAAP EPS guidance of $5.60 to $5.90, despite updated expectations for a decline in Medical segment profit.
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