Cardinal Health Inc Stock Price, News & Analysis

Cardinal Health reported an 11% revenue increase to $47.1 billion for Q4 FY22, with GAAP operating earnings of $36 million impacted by a $303 million non-cash impairment charge. Non-GAAP operating earnings rose 41% to $450 million, resulting in a non-GAAP diluted EPS of $1.05. The company generated $3.1 billion in operating cash flow for FY22 and expects non-GAAP EPS guidance for FY23 between $5.05 and $5.40. Leadership changes were announced, with Jason Hollar becoming CEO, effective September 2022, as part of ongoing strategic improvements.

Cardinal Health (NYSE: CAH) announced a leadership change on August 11, 2022, with Jason Hollar succeeding Mike Kaufmann as CEO effective September 1, 2022. Hollar, previously the Chief Financial Officer since May 2020, is expected to steer the company towards long-term growth. Patricia English will serve as interim CFO during the transition. Kaufmann expressed gratitude for his time as CEO and confidence in Hollar's leadership. The transition aims to ensure continuity and leverage Hollar's financial expertise to enhance value for shareholders.

Cardinal Health (NYSE: CAH) has appointed Michelle Greene as its new chief information officer, effective August 1, 2022. Greene, who joined Cardinal Health in 2021 as SVP of EIT for the Pharmaceutical Segment, will report directly to CEO Mike Kaufmann and join the executive committee. With a strong background in IT leadership across various industries, Greene aims to drive innovation within the company. Her past experience includes roles at Masco Corporation and Johnson Controls. She holds a master's degree in Information Science from Florida State University.

The Court has authorized a Summary Notice regarding a proposed $124 million settlement of a stockholder derivative action against Cardinal Health. The settlement aims to resolve claims made in In re Cardinal Health, Inc. Derivative Litig. The Court will hold a Settlement Hearing on October 4, 2022, to evaluate the Settlement's fairness and reasonableness. Stockholders as of May 25, 2022, can object by September 13, 2022. Importantly, benefits from this Settlement will benefit the company, not individual stockholders directly.

Cardinal Health (NYSE: CAH) will announce its fourth-quarter and year-end financial results for fiscal year 2022 on August 11, before the market opens. A webcast discussing these results is set for 8:30 a.m. Eastern the same day. The financial results are anticipated to provide insights into the company's performance in various healthcare sectors, which include pharmaceuticals and medical products. For details, visit Cardinal Health's Investor Relations.

Cardinal Health has acquired the Bendcare group purchasing organization (CPO-GPO) and made a minority investment in its management services organization (MSO) to enhance its Cornerstone Rheumatology™ GPO. This strategic move allows Cardinal Health to provide innovative solutions and robust specialty drug access to over 1,300 rheumatology providers nationwide. Although financial terms remain undisclosed, the acquisition aims to improve technology solutions and distribution for specialty practices, reinforcing Cardinal Health's position in the healthcare market.

Cardinal Health (NYSE: CAH) launched an innovative Reserved Inventory Program aimed at improving inventory management for respiratory diagnostics in anticipation of the upcoming flu, strep, and RSV seasons. This program, tailored to individual labs and health systems, utilizes historical data to predict inventory needs, thereby alleviating supply challenges faced during previous respiratory seasons. Feedback from pilot participants indicates a significant reduction in inventory constraints and a high satisfaction rate. The program promises to deliver consistent supply and reduce delays in respiratory testing products.

Cardinal Health released new research indicating severe burnout among oncologists, with nearly 90% reporting emotional exhaustion. Over half of oncologists feel more stressed post-COVID-19, and 30% have considered early retirement due to stress. The study highlights barriers like prior authorizations affecting patient care, with 90% citing it as a significant hurdle. Cardinal Health has invested $2.6 million in mental health initiatives and aims to support oncologists in managing stress to mitigate the projected physician shortage by 2033.

Cardinal Health (NYSE: CAH) has announced a new distribution center in Grove City, Ohio, enhancing its at-Home Solutions business. This facility, measuring 208,144 square feet, is designed with advanced logistics technology, including robotic storage and the Kinaxis® RapidResponse® platform. It aims to support the growing demand for home healthcare, creating approximately 100 jobs by November 2022. This investment is part of a multi-year strategy to expand Cardinal Health's distribution network in Central Ohio, improving operational efficiencies and customer service.