trending Market Intelligence /marketintelligence/en/news-insights/trending/1jxkupalezn-bbkv2__ppa2 content esgSubNav
In This List

Cardinal Health profit beats consensus by 30.2% in Q2 FY'18

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Cardinal Health profit beats consensus by 30.2% in Q2 FY'18

Cardinal Health Inc. said its non-GAAP net earnings for the fiscal second quarter ended Dec. 31, 2017, came to $1.51 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.16 per share.

EPS climbed 12.7% year over year from $1.34.

Aggregate non-GAAP net earnings were up 11.9% to $478.0 million on an annual basis.

Revenue climbed 6.1% year over year to $35.19 billion from $33.15 billion in the comparable, year-ago quarter.

On a GAAP basis, the company posted a profit of $1.05 billion, or $3.33 per share, which compares to $324.0 million, or $1.34 per share, in the same quarter of the last fiscal year.

GAAP results account for an $894 million benefit related to the recently passed U.S. tax reform.

Guidance for fiscal 2018

The Dublin, Ohio-based company raised its guidance for fiscal 2018 and expects to target non-GAAP EPS of $5.25 to $5.50 to account for a 40 cents per share benefit related to the U.S. tax reform.

The S&P Capital IQ normalized EPS consensus estimate for fiscal 2018 is $5.16.

Cardinal Health was previously targeting $4.85 to $5.10 in non-GAAP EPS.

Additionally, the Cardinal board approved a $1 billion share repurchase program. With this new authorization, Cardinal Health is now authorized to repurchase up to $1.3 billion of its common shares.

The program expires Dec. 31, 2020.