Cardinal Health had a mixed fiscal fourth quarter in terms of sales across its two main business lines, but expects revenue to rise in both segments in the new fiscal year.
The healthcare company on Tuesday posted a profit of $398 million, or $1.70 a share, compared with $239 million, or $1 a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $2.91, ahead of the $2.42 anticipated by analysts, according to FactSet.
Cardinal got a boost to profit of $100 million from tariff refunds, which translated to 31 cents a share, the company said.
Revenue rose 6% to $63.67 billion. Analysts surveyed by FactSet forecast revenue of $65.15 billion.
Sales in Cardinal's pharmaceutical segment rose 6%, driven by growth from existing customers and positive generics performance.
Meanwhile, global medical products and distribution had a 2% decline in revenue. Cardinal attributed the decrease to lower distribution volumes and the recognition of the expected tariff refund repayment to customers.
In the new fiscal year, Cardinal expects adjusted earnings per share to be $12.40 to $12.60, ahead of the $12.08 that Wall Street is projecting.
It anticipates 3% to 5% revenue growth in its pharmaceuticals business, and 2%-to-4% growth in medical products and distribution revenue.
Separately, Cardinal said it entered into a new credit agreement providing $4 billion in revolving credit through 2031. The new agreement replaces three historic facilities, the company said.
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