Cerner Reports First Quarter 2021 Results, Updates Guidance, Expands Capital Return Program and Commences CEO Succession

Rhea-AI Summary

Cerner Corporation (Nasdaq: CERN) announced a positive outlook for 2021, citing strong margin expansion and an increased earnings forecast. The board has authorized a new $3.75 billion share repurchase program, supporting shareholder value. Additionally, Brent Shafer, the current CEO, will begin the search for his successor while remaining in his position until a new CEO is appointed. The company will discuss its quarterly results and future outlook during an earnings call on May 5, 2021, at 8 a.m. CDT.

Positive

• Increased earnings outlook for 2021 due to strong margin expansion.
• Authorization of a new $3.75 billion share repurchase program to enhance shareholder value.

Negative

• None.

Increased 2021 Earnings Outlook on Strong Margin Expansion
Board Authorizes New $3.75 Billion Share Repurchase Program

Brent Shafer and Board Agree to Begin Search for Company’s Next CEO
Shafer Expected to Continue to Serve Until Successor Appointed

KANSAS CITY, Mo., May 05, 2021 (GLOBE NEWSWIRE) -- Cerner Corporation (Nasdaq: CERN), a global healthcare technology company, today announced results for the 2021 first quarter that ended March 31, 2021, and other news.  

The first quarter 2021 earnings release and announcements can be viewed here as well as on the company’s website at https://investors.cerner.com/financial-releases.

Cerner will host an earnings conference call to provide additional detail on the company’s results and outlook at 8 a.m. CDT on May 5, 2021. On the call, Cerner will discuss its results and answer questions from the investment community. The call may also include discussion of Cerner developments, and forward-looking and other material information about business and financial matters. The dial-in number for the conference call is (678) 509-7542; the passcode is Cerner. Cerner recommends joining the call 15 minutes early for registration.

An audio webcast will be available live and archived on Cerner’s Investor Relations website at https://investors.cerner.com/events-and-presentations.

What: Cerner First Quarter 2021 Earnings Conference Call Webcast
When: Wed., May 5, 2021
Time:   8 a.m. central time
Financial Results:   https://investors.cerner.com/financial-releases
Webcast:   https://investors.cerner.com/events-and-presentations

Investor Contact: Allan Kells, (816) 201-2445, akells@cerner.com 
Media Contact: Misti Preston, (816) 299-2037, misti.preston@cerner.com 

FAQ

What is Cerner Corporation's earnings outlook for 2021?

Cerner Corporation has increased its earnings outlook for 2021, attributing this to strong margin expansion.

What new program did Cerner announce in May 2021?

Cerner announced a new $3.75 billion share repurchase program to support shareholder value.

Who is the current CEO of Cerner Corporation?

Brent Shafer is the current CEO of Cerner Corporation and will oversee the search for his successor.

When is Cerner's earnings conference call?

Cerner's earnings conference call is scheduled for May 5, 2021, at 8 a.m. CDT.

What details will be discussed in Cerner's earnings call?

Cerner will discuss its first quarter 2021 results, future outlook, and answer questions from the investment community.