UPDATE 2-Cardinal Health beats profit estimates on acquisition, raises forecast [Reuters]
Cardinal Health, Inc. (CAH)
Last cardinal health, inc. earnings: 2/6 06:55 am
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Source: Reuters
Cardinal Health beats profit estimates on acquisition, raises forecast | Reuters Reuters Staff 2 Min Read (Reuters) - Cardinal Health ( CAH.N ) reported a better-than-expected quarterly profit as its purchase of Medtronic Plc’s ( MDT.N ) patient recovery business started to pay off, and the drug distributor raised its fiscal 2018 adjusted profit forecast. The company’s medical unit, which absorbed the Medtronic business, posted a 19 percent jump in quarterly revenue to $4 billion as it sold more branded medical and surgical products. However, quarterly profit in Cardinal’s largest business, the pharmaceuticals unit that distributes generic and branded drugs, fell 4 percent to $514 million, hurt partly by the performance of its generic drug program. A steep decline in prices of generic drugs has hurt the pharmaceutical supply chain in the past few quarters but rivals McKesson Corp ( MCK.N ) and AmerisourceBergen Corp ( ABC.N ) have said that prices have started to stabilize. Ne
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CAH
Earnings
- 2/1/24 - Beat
CAH
Sec Filings
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- 3/1/24 - Form 3
- CAH's page on the SEC website