"What matters here is that the beat wasn't driven by a single segment or accounting trick. Pharmaceutical and Specialty Solutions, the company's largest division, grew 23% year over year to $59.2B. That segment alone accounts for 92% of revenue, and it's firing on all cylinders. Brand and specialty pharmaceutical sales accelerated, while the generics program performed better than expected. Global Medical Products grew more modestly at 2%, but the Other segment surged 38%, suggesting diversification is working."
"Non-GAAP earnings per share came in at $2.55, crushing the $2.21 consensus by 16%. Revenue hit $64.0B, topping estimates of $59.79B by 7%. Operating earnings growth outpaced revenue growth. Non-GAAP operating earnings rose 37% to $857M, while GAAP operating earnings climbed 18% to $668M. That margin expansion is the real signal here. It tells you the company isn't just moving more volume. It's extracting better economics from each transaction."
Cardinal Health reported fiscal Q1 non-GAAP EPS of $2.55, up 36% year over year and exceeding the $2.21 consensus, and revenue of $64.0 billion, up 22% year over year. Pharmaceutical and Specialty Solutions grew 23% to $59.2 billion and accounted for 92% of sales, while Global Medical Products rose 2% and the Other segment jumped 38%. Non-GAAP operating earnings rose 37% to $857 million and GAAP operating earnings increased 18% to $668 million, indicating margin expansion. Operating cash flow totaled $973 million and net income was $450 million. Full-year non-GAAP EPS guidance was raised to $9.65–$9.85 and free cash flow guidance to $3.0–$3.5 billion.
Read at 24/7 Wall St.
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