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Cardinal Health, Inc. - CAH STOCK NEWS

Welcome to our dedicated page for Cardinal Health news (Ticker: CAH), a resource for investors and traders seeking the latest updates and insights on Cardinal Health stock.

Cardinal Health, Inc. (NYSE: CAH) is a global leader in integrated healthcare services and products. With nearly 100 years of experience, the company stands as a pillar in the healthcare industry, ranking among the top 25 on the Fortune 500 list. Cardinal Health offers a comprehensive suite of services that cater to hospital systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices worldwide.

Operating through two main segments—Pharmaceuticals and Medical—Cardinal Health provides clinically-proven medical products and pharmaceuticals, alongside cost-effective solutions that enhance supply chain efficiency. The company is a major distributor of branded, generic, and specialty pharmaceutical products to a wide array of clients, including retail chains, independent pharmacies, hospital networks, and healthcare providers.

Recently, Cardinal Health reported strong financial results for Q2 FY2024, with a 12% increase in revenue to $57.4 billion. The company also saw significant growth in both its Pharmaceutical and Medical segments, driven by robust sales of brand and specialty pharmaceuticals, as well as improvements in at-Home Solutions and Global Medical Products and Distribution. CEO Jason Hollar highlighted the company's operational execution and strategic priorities, which include tech-enabled specialty acquisitions and a focus on supply chain resiliency.

Cardinal Health is also committed to sustainability and corporate responsibility. The company recently released its Fiscal 2023 Environmental, Social and Governance (ESG) Report, emphasizing long-term value creation through sustainable practices. The company has received approval from the Science Based Targets initiative (SBTi) for its ambitious greenhouse gas (GHG) emissions reduction targets. By FY2023, Cardinal Health had already reduced its Scope 1 and 2 emissions by 13% from a FY2019 base year.

In terms of infrastructure, Cardinal Health is expanding its logistics capabilities. The company has commenced construction on a new 350,000 square-foot Consumer Health Logistics Center in Columbus, Ohio, designed to support the distribution of over-the-counter consumer health products. This facility, expected to be operational by Summer 2025, will create approximately 100 new jobs and enhance Cardinal Health's supply chain agility.

Despite challenges such as the non-renewal of its pharmaceutical distribution contracts with OptumRx, Cardinal Health remains resilient. The company reaffirmed its fiscal 2024 non-GAAP diluted EPS guidance and is confident in its long-term growth targets.

For more information, visit cardinalhealth.com and follow @cardinalhealth on Twitter.

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Cardinal Health (NYSE: CAH) has announced that it will release its fourth-quarter and year-end financial results for fiscal year 2024 on August 14, 2024, before the opening of trading on the New York Stock Exchange. The company will host a webcast discussion of the results starting at 8:30 a.m. Eastern.

Investors and interested parties can access the webcast and accompanying slide presentation through Cardinal Health's Investor Relations page. No access code is required for participation. The presentation slides and a replay of the webcast will remain available on the Investor Relations page for 12 months following the event.

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Cardinal Health (CAH) has announced an increase in its quarterly dividend to $0.5056 per share, payable on July 15, 2024, to shareholders of record as of July 1, 2024.

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Cardinal Health reported third quarter fiscal year 2024 revenues of $54.9 billion, a 9% increase from the previous year. GAAP operating earnings were $367 million, with GAAP diluted EPS at $1.05. Non-GAAP operating earnings increased 10% to $666 million, and non-GAAP diluted EPS rose 20% to $2.08. The company raised its fiscal year 2024 non-GAAP EPS guidance to $7.30 to $7.40 and provided preliminary guidance for fiscal year 2025 of at least $7.50.

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Cardinal Health reaffirms its fiscal 2024 non-GAAP EPS guidance and long-term targets despite the nonrenewal of OptumRx customer contracts. The company expects sustained growth, attractive returns for shareholders, and profitability in fiscal 2025 through new customer wins, specialty growth, and other actions.
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Cardinal Health (CAH) initiates construction of a new 350,000 square-foot Consumer Health Logistics Center in Columbus, Ohio. The center aims to enhance distribution of over-the-counter consumer health products, creating 100 new jobs and improving supply chain resiliency.
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Cardinal Health (CAH) is set to announce its third-quarter financial results for fiscal year 2024 on May 2, 2024. The company will host a webcast to discuss the results at 8:30 a.m. Eastern time. Investors can access the webcast and presentation slides on Cardinal Health's Investor Relations page without needing an access code. A replay of the webcast will also be available for 12 months.
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Cardinal Health (CAH) secures approval for science-based greenhouse gas emissions reduction targets, showing commitment to sustainability and environmental responsibility.
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Cardinal Health releases its 2024 Biosimilars Report, highlighting the impact of biosimilars on patient accessibility and treatment affordability. The report covers legislative developments, new treatments like adalimumab biosimilars, and perspectives from retina specialists. It emphasizes the importance of biosimilars in reducing healthcare costs and increasing care accessibility.
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Cardinal Health appoints Robert Azelby as an independent director, bringing over 30 years of experience in the healthcare industry. His vast expertise in specialty pharmaceuticals, oncology, and biopharmaceuticals will enhance Cardinal Health's strategic priorities.
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Cardinal Health (NYSE: CAH) has declared a quarterly dividend of $0.5006 per share, payable on April 15, 2024, to shareholders of record at the close of business on April 1, 2024.
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FAQ

What services does Cardinal Health offer?

Cardinal Health provides integrated healthcare services and products, including clinically-proven medical products, pharmaceuticals, and supply chain solutions for hospital systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

How did Cardinal Health perform in Q2 FY2024?

Cardinal Health reported a 12% increase in revenue to $57.4 billion, with strong growth in both Pharmaceutical and Medical segments. Non-GAAP diluted EPS increased 38% to $1.82.

What is Cardinal Health's approach to sustainability?

Cardinal Health is committed to sustainability and corporate responsibility, as evidenced by its Fiscal 2023 ESG Report and approval from the Science Based Targets initiative (SBTi) for its greenhouse gas (GHG) emissions reduction targets.

What are Cardinal Health's main business segments?

Cardinal Health operates through two main segments: Pharmaceuticals and Medical. The Pharmaceuticals segment focuses on the distribution of branded, generic, and specialty pharmaceutical products, while the Medical segment provides medical-surgical products and equipment.

What recent infrastructure developments has Cardinal Health announced?

Cardinal Health has begun construction on a 350,000 square-foot Consumer Health Logistics Center in Columbus, Ohio, scheduled to be operational by Summer 2025. This facility will support the distribution of over-the-counter consumer health products.

How many employees does Cardinal Health have?

Cardinal Health employs more than 48,000 people globally, with operations in over 30 countries.

What are Cardinal Health's fiscal 2024 guidance and expectations?

Cardinal Health raised its fiscal 2024 guidance range for non-GAAP diluted earnings per share to $7.30 to $7.40. The company also expects 8.5% to 9.5% growth in Pharmaceutical and Specialty Solutions segment profit.

How is Cardinal Health addressing supply chain efficiency?

Cardinal Health continuously works on enhancing supply chain efficiency through advanced inventory management systems and supply chain resiliency initiatives. The new Consumer Health Logistics Center will further improve its capabilities.

What impact will the non-renewal of OptumRx contracts have on Cardinal Health?

Despite the non-renewal of its contracts with OptumRx, Cardinal Health expects to partially offset the impact through new customer wins, specialty growth, and other actions. The company has reaffirmed its long-term growth targets.

Where can I find more information about Cardinal Health?

More information about Cardinal Health is available on its website at cardinalhealth.com. You can also follow the company on Twitter @cardinalhealth.

Cardinal Health, Inc.

NYSE:CAH

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