By Mackenzie Tatananni
Cardinal Health shares rose Thursday as the pharmaceutical distributor hiked its guidance for the second time this year, helping investors look past an otherwise mixed quarter.
The highlight of the earnings report was the fiscal-year outlook boost. Cardinal Health guided for adjusted earnings in the range of $10.70 to $10.80 a share. The company's last updated forecast, provided in February, called for adjusted earnings in the range of $10.15 to $10.35 a share.
Cardinal Health stock gained 1.6% in premarket trading Thursday to $205.99. Futures tracking the S&P 500 advanced 0.4%. The guidance raise appeared to overshadow an otherwise mixed fiscal third quarter.
The company logged adjusted earnings of $3.17 a share, handily topping the $2.79 forecast by Wall Street. While revenue climbed 11% to $60.9 billion, it came in below the consensus call for $62.1 billion.
Performance varied across business segments. Revenue in Cardinal's pharmaceutical and specialty-solutions division rose 11% to $56.1 billion. However, revenue tied to its global medical products and distribution segment was roughly flat from the prior year due to lower distribution volumes.
Cardinal's quarterly profit slipped to $399 million from $506 million a year earlier. Management cited a $184 million pretax goodwill impairment charge tied to the company's oncology practice alliance and Integrated Oncology Network, which Cardinal acquired in late 2024.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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April 30, 2026 08:07 ET (12:07 GMT)
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