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. distributes pharmaceuticals and specialty products and manufactures and distributes medical, laboratory, home-health and direct-to-patient products and services. The company also operates nuclear pharmacies and manufacturing facilities and provides performance and data solutions for healthcare customers.
Recurring company updates cover financial results and fiscal outlooks, dividend actions, share repurchases, debt activity, segment performance in Global Medical Products and Distribution, at-Home Solutions, Nuclear and Precision Health Solutions and OptiFreight Logistics. Other developments include biosimilars and advanced-therapy research reports, Actinium-225 production capacity for radiopharmaceutical applications, and board governance changes.
Cardinal Health (NYSE: CAH) reported a 13% revenue increase to $51.5 billion for Q2 FY23. However, it faced a GAAP operating loss of $119 million, largely due to a non-cash goodwill impairment of $709 million. Non-GAAP operating earnings remained stable at $467 million, leading to a 4% increase in non-GAAP diluted EPS, now at $1.32. The company raised its fiscal year 2023 non-GAAP EPS guidance to $5.20-$5.50. The Pharmaceutical segment saw a 15% revenue increase to $47.7 billion, while the Medical segment reported a 7% decline in revenue.
Cardinal Health (CAH) and Palantir Technologies (PLTR) have announced a strategic partnership aimed at enhancing pharmaceutical purchasing decision support for health systems and hospitals. The collaboration will utilize Palantir's Foundry platform to integrate AI and machine learning, combining clinical and purchasing data to optimize supply chain management. The solution aims to address rising drug expenses and inventory challenges, providing real-time insights to improve efficiency and access to medications. This partnership reflects Cardinal Health’s proactive approach to mitigating supply chain uncertainties in healthcare.
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Cardinal Health (NYSE: CAH) is set to release its second-quarter financial results for fiscal year 2023 on February 2, prior to market opening. A webcast will begin at 8:30 a.m. Eastern to discuss these results. Cardinal Health, with over 46,500 employees globally, operates in more than 30 countries, providing essential health care services and solutions.
Cardinal Health (NYSE: CAH) has announced the appointment of Aaron Alt as the new Chief Financial Officer (CFO), effective February 10. Alt succeeds Trish English, the interim CFO, and will report to CEO Jason Hollar. Previously, Alt served as EVP and CFO of Sysco Corp, where he improved the company's balance sheet and profitability. His extensive experience includes leadership roles at Sally Beauty and Target. Cardinal Health operates globally with around 46,500 employees, distributing pharmaceuticals and medical products.
On December 9, 2022, Cardinal Health released the 12th edition of its Oncology Insights report, highlighting health inequities in cancer care. The study indicates that 80% of oncologists recognize inequities in healthcare, with nearly 50% citing these disparities as significant in cancer treatment. Unconscious bias among providers towards non-white and Latinx patients was reported by 60% of participants. The report emphasizes the need for greater awareness, education, and evidence-based initiatives to improve access to quality care for all patients.
Cardinal Health (NYSE: CAH) has launched Velocare™, a new supply chain solution that enables rapid delivery of medical supplies for hospital-level care at home, in collaboration with Medically Home. This pilot program aims to enhance patient care by delivering essential products within one to two hours. Utilizing Cardinal Health's logistics expertise, the initiative targets high-acuity patients who previously required hospitalization. The market for at-home healthcare could reach $265 billion by 2025, according to McKinsey, indicating significant growth potential for this venture.
Cardinal Health (NYSE: CAH) has formed a strategic collaboration with Transaction Data Systems (TDS) to integrate the Outcomes platform into over 18,000 pharmacy locations. This partnership aims to enhance pharmacist workflows by connecting payers and pharmaceutical companies for improved medication adherence and patient care. The integration is expected to drive operational efficiency and generate additional revenue through clinical services. Both companies emphasize their commitment to enhancing health outcomes in the pharmacy setting.
On November 8, 2022, Cardinal Health (NYSE: CAH) announced a quarterly dividend of $0.4957 per share, reflecting its ongoing commitment to return value to shareholders. This dividend is payable on January 15, 2023, to shareholders of record by the close of business on January 3, 2023. Cardinal Health continues to strengthen its position as a key player in the healthcare sector, with its substantial operations spanning over 30 countries and a dedicated workforce of approximately 44,000 employees.
Cardinal Health reported Q1 FY23 revenues of $49.6 billion, up 13% year-over-year, with GAAP operating earnings of $137 million and diluted EPS of $0.40. Non-GAAP operating earnings fell 20% to $423 million, mainly due to a decline in the Medical segment, while non-GAAP diluted EPS decreased 7% to $1.20. The company reaffirmed its fiscal year 2023 non-GAAP EPS guidance of $5.05 to $5.40, although it adjusted Medical segment profit outlook to expect a flat to 20% decline.