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Cardinal Health (CAH) Tops Q2 Earnings, Miss on Revenues
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Cardinal Health Inc. (CAH - Free Report) is a healthcare services company engaged in providing pharmaceutical and medical products and services in the United States and International markets. The company primarily operates in two segments, Pharmaceutical and Medical.
Currently, Cardinal Health has a Zacks Rank #3 (Hold) but that could change following its second-quarter fiscal 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)We have highlighted some of the key details from the just-released announcement below:
Earnings: Cardinal Health’s adjusted earnings rose 3% on a year-over-year basis to $1.34 per share. It also managed to outpace the Zacks Consensus Estimate of $1.24.
Revenues: Revenues increased 5% on a year-over-year basis to $33.1 billion. It however came below the Zacks Consensus Estimate of $33.4 billion.
Key Stats: Pharmaceutical revenues surged 5% to $29.7 billion while revenues from Medical segment increased 8% to $3.4 billion in the quarter.
Major Factors: Pharmaceutical segment revenues increased due to strong growth from existing and net new distribution customers. Strong performance from the Specialty business also drove results. Higher contributions from acquisitions and net new and existing customers were primarily responsible for the growth in Medical segment revenues.
Stock Price: Shares have risen 16.22% over the past 3 months, while the Zacks categorized Medical - Dental Supplies sub industry has gained roughly 5.71% over the same time frame.
Check back later for our full write up on this Cardinal Health earnings report later!
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Cardinal Health (CAH) Tops Q2 Earnings, Miss on Revenues
Cardinal Health Inc. (CAH - Free Report) is a healthcare services company engaged in providing pharmaceutical and medical products and services in the United States and International markets. The company primarily operates in two segments, Pharmaceutical and Medical.
Currently, Cardinal Health has a Zacks Rank #3 (Hold) but that could change following its second-quarter fiscal 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.) We have highlighted some of the key details from the just-released announcement below:
Earnings: Cardinal Health’s adjusted earnings rose 3% on a year-over-year basis to $1.34 per share. It also managed to outpace the Zacks Consensus Estimate of $1.24.
Cardinal Health, Inc. Price and EPS Surprise
Cardinal Health, Inc. Price and EPS Surprise | Cardinal Health, Inc. Quote
Revenues: Revenues increased 5% on a year-over-year basis to $33.1 billion. It however came below the Zacks Consensus Estimate of $33.4 billion.
Key Stats: Pharmaceutical revenues surged 5% to $29.7 billion while revenues from Medical segment increased 8% to $3.4 billion in the quarter.
Major Factors: Pharmaceutical segment revenues increased due to strong growth from existing and net new distribution customers. Strong performance from the Specialty business also drove results. Higher contributions from acquisitions and net new and existing customers were primarily responsible for the growth in Medical segment revenues.
Stock Price: Shares have risen 16.22% over the past 3 months, while the Zacks categorized Medical - Dental Supplies sub industry has gained roughly 5.71% over the same time frame.
Check back later for our full write up on this Cardinal Health earnings report later!
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>