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 officially opened a new distribution center in Greenville, South Carolina, dedicated to its at-Home Solutions business. This 350,000 square foot facility, the largest for the at-Home Solutions division, is expected to create approximately 200 jobs over time. The center will support the growing home healthcare industry, projected to reach $176.3 billion by 2032.
The facility will utilize advanced automation, AI, and robotics to ship nearly 8,000 packages daily directly to patients' homes. These packages include critical medical supplies such as diabetic equipment, incontinence and ostomy supplies, and enteral nutrition products. This expansion aligns with the increasing demand for home healthcare services, driven by America's aging population and the rising prevalence of chronic conditions.
Cardinal Health (NYSE: CAH) has announced plans to open a new 249,000 square foot distribution center in Walton Hills, Ohio, expanding its medical product distribution footprint in Northeast Ohio. The facility, set to be fully operational by spring 2025, will be over 30% larger than the Solon, Ohio location it replaces. It will feature advanced technology and automation to improve service quality, enhance employee work experiences, and increase storage capacity.
This expansion is part of Cardinal Health's broader strategy to improve infrastructure, warehouse operations, and supply chain resiliency. The company has recently opened new distribution centers in Central Ohio and Montgomery, N.Y., with another facility opening soon in the Boston area. These investments demonstrate Cardinal Health's commitment to meeting growing customer needs and strengthening its U.S. Medical Products and Distribution business.
Cardinal Health (NYSE: CAH) has announced that its Board of Directors has approved a quarterly dividend of $0.5056 per share. This dividend will be paid out of the company's capital surplus. Shareholders who are on record at the close of business on October 1, 2024, will receive the dividend payment on October 15, 2024. This announcement demonstrates Cardinal Health's commitment to returning value to its shareholders through regular dividend payments.
Cardinal Health (NYSE: CAH) reported strong Q4 and FY2024 results, raising its FY2025 guidance. Q4 revenue increased 12% to $59.9 billion, with non-GAAP operating earnings up 14% to $605 million. Non-GAAP diluted EPS rose 29% to $1.84. For FY2024, revenue grew 11% to $226.8 billion, non-GAAP operating earnings increased 16% to $2.4 billion, and non-GAAP diluted EPS climbed 29% to $7.53.
The company achieved record operating cash flow of $3.8 billion and adjusted free cash flow of $3.9 billion. Cardinal Health raised its FY2025 non-GAAP EPS guidance to $7.55-$7.70, up from at least $7.50 previously. The Pharmaceutical and Specialty Solutions segment saw 13% revenue growth in Q4, while Global Medical Products and Distribution segment profit significantly improved.
Cardinal Health (NYSE: CAH) has announced that it will release its fourth-quarter and year-end financial results for fiscal year 2024 on August 14, 2024, before the opening of trading on the New York Stock Exchange. The company will host a webcast discussion of the results starting at 8:30 a.m. Eastern.
Investors and interested parties can access the webcast and accompanying slide presentation through Cardinal Health's Investor Relations page. No access code is required for participation. The presentation slides and a replay of the webcast will remain available on the Investor Relations page for 12 months following the event.
Cardinal Health (CAH) has announced an increase in its quarterly dividend to $0.5056 per share, payable on July 15, 2024, to shareholders of record as of July 1, 2024.
Cardinal Health reported third quarter fiscal year 2024 revenues of $54.9 billion, a 9% increase from the previous year. GAAP operating earnings were $367 million, with GAAP diluted EPS at $1.05. Non-GAAP operating earnings increased 10% to $666 million, and non-GAAP diluted EPS rose 20% to $2.08. The company raised its fiscal year 2024 non-GAAP EPS guidance to $7.30 to $7.40 and provided preliminary guidance for fiscal year 2025 of at least $7.50.
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