Cardinal Health lowers expectations for medical segment due to inflation, supply chain

Cardinal Health
CAH,
+3.29%
said Monday the impact of inflation and supply chain disruptions will reduce its fiscal 2022 medical segment unit profit by $150 million to $175 million. Cardinal Health now expects fiscal year 2022 profit that’s 40 cents to 45 cents below its earlier expectations. Wall Street analysts currently expect fiscal 2022 earnings of $5.57 a share. Excluding the impact to the medical segment, the company’s other financial expectations for fiscal year 2022 remain unchanged. Shares of Cardinal Health fell 2.3% in premarket trades.