Cardinal Health shares slide 8.8% premarket after earnings fall short of esimates


Cardinal Health Inc. shares

slid 8.8% in premarket trade Thursday, after the drug distributor posted weaker-than-expected earnings for its fiscal third quarter and lowered the top end of its guidance. The company said net income fell to $119 million, or 40 cents a share, in the quarter to March 31, down from $350 million, or $1.19 a share, in the year-earlier period. Excluding special items, adjusted EPS came to $1.53, just below the $1.55 FactSet consensus. Revenue rose to $39.3 billion from $39.2 billion, also below the FactSet consensus of $40.1 billion. The company narrowed its fiscal 2021 adj. EPS guidance range to $5.90 to $6.05 from previous guidance of $5.85 to $6.10. Shares have gained 13.6% in the year to date, while the S&P 500

has gained 11%.

Analysts Bank On These 3 Fintech Stocks

Previous article

Regeneron Earnings Top, Biotech Giant Edges Higher

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News