Cardinal Health (CAH) said before open Thursday that it earned $1.05 per share in quarter four 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $47.1 billion, beating estimates by $2.4 billion.
In the same quarter a year ago, the company earned $0.77 per share on revenue of $42.6 billion.
The stock is up 4.88% to $65.81 after the report.
The firm’s lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Hold on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 61. Meanwhile, the average Wall Street analyst rated the stock a Hold.
Cardinal Health is a leading pharmaceutical wholesaler, engaged in the sourcing and distribution of branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers. Along with AmerisourceBergen and McKesson, the three compose well over 90% of the U.S. pharmaceutical wholesale industry. Cardinal Health also supplies medical-surgical products and equipment to healthcare facilities in North America, Europe, and Asia.
