Cardinal Health Inc - CAH STOCK NEWS

Cardinal Health (NYSE: CAH) has been selected by the Ohio Department of Health to assist in the distribution of COVID-19 vaccines. The company's OptiFreight® Logistics division will coordinate transportation efforts across 88 counties in Ohio, providing same-day delivery services to 350 locations. Initial vaccine doses will require special handling and temperature control, which OptiFreight® is equipped to manage. This partnership highlights Cardinal Health's critical role in ensuring safe and efficient vaccine distribution to aid in combating the COVID-19 pandemic.

Cardinal Health's latest Oncology Insights report reveals significant adaptations made by U.S. oncologists in response to the COVID-19 pandemic. A notable 97% of oncologists utilized telemedicine, with 60% expressing a highly positive experience. Additionally, 65% shifted patients to oral therapies to minimize office visits. While three-fourths are confident in returning to pre-pandemic success, 50% report burnout, primarily due to reduced patient interaction. This research, based on surveys of over 190 oncologists, highlights the resilience and resourcefulness of oncologists during challenging times.

Cardinal Health (NYSE: CAH) has partnered with the CDC to act as a network administrator for Phase 2 of the Federal Pharmacy Partnership Strategy for COVID-19. This collaboration will facilitate independent retail pharmacies and long-term care facilities in vaccine distribution efforts. Cardinal Health aims to leverage its extensive pharmacy expertise to support a nationwide vaccination initiative, ensuring a safe vaccine administration network across the U.S. CEO Victor Crawford emphasized the importance of pharmacists in combating the COVID-19 pandemic.

Cardinal Health (CAH) reported Q1 FY21 revenues of $39.1 billion, a 5% increase from the previous year. While a GAAP operating loss of $624 million was recorded due to opioid litigation, non-GAAP operating earnings rose 7% to $618 million. The GAAP diluted loss per share was $0.86, but non-GAAP diluted EPS increased 19% to $1.51. The Pharmaceutical segment's revenue grew 5% to $35.1 billion, while the Medical segment's revenue rose 1% to $4.0 billion. The company also raised its FY21 guidance for non-GAAP diluted EPS to $5.65-$5.95.

Cardinal Health (NYSE: CAH) will release its first-quarter financial results for fiscal year 2021 on November 5, ahead of market opening. A webcast discussing these results will commence at 8:30 a.m. Eastern. Investors can access the webcast and presentation slides through the company's Investor Relations page without an access code. The presentation materials will remain available until November 4, 2021. Cardinal Health has nearly 100 years of experience, providing integrated healthcare solutions globally, enhancing supply chain efficiency for medical products, pharmaceuticals, and cost-effective solutions.

Cardinal Health (NYSE: CAH) has elected Sheri Edison as an independent director, effective September 1, 2020. With extensive experience as a legal executive in medical devices and packaging, Ms. Edison aims to enhance the board's capabilities in legal, regulatory compliance, and corporate governance. Currently serving as General Counsel for Amcor, she has held senior positions at Bemis and Hill-Rom Holdings. Her appointment brings valuable insight to the board, complementing current expertise in healthcare.

Cardinal Health (NYSE: CAH) reported Q4 FY2020 revenues of $36.7 billion, down 2% year-over-year, with GAAP operating earnings of $270 million. The COVID-19 pandemic negatively impacted earnings by approximately $130 million. Fiscal year revenues rose 5% to $152.9 billion, but the company reported a GAAP operating loss of $4.1 billion primarily due to opioid litigation. Non-GAAP EPS for Q4 was $1.04, slightly down from last year. For FY2021, non-GAAP EPS guidance is between $5.25 - $5.65, accounting for continued COVID-19 headwinds.

Cardinal Health (NYSE: CAH) will report its fourth-quarter and year-end financial results for FY 2020 on August 6, prior to NYSE trading. A webcast discussing these results will be held at 8:30 a.m. Eastern. The company has a strong presence in the healthcare sector, focusing on providing customized solutions for various healthcare entities. Investors can access the webcast and slides through the Investor Relations page without needing an access code. Replay will be available until August 5, 2021.

Cardinal Health (NYSE: CAH) announced the election of David C. Evans as an independent director, effective July 1. Mr. Evans brings extensive financial expertise and operational experience, having served as interim CFO of Cardinal Health and CFO at Battelle Memorial Institute and Scotts MiracleGro. His board roles include positions at Scotts MiracleGro and the Siegel Rare Neuroimmune Association. The board chair, Gregory Kenny, expressed confidence in Evans' leadership during periods of change, emphasizing the importance of his insights for future growth strategies.