Cardinal Health sees ‘ongoing acceleration’ 

DUBLIN, Ohio – Cardinal Health’s at-Home Solutions operating segment, along with two other segments, reported revenue of $1.2 billion for the third quarter of the company's fiscal year 2024, a 14% increase year over year. The “other” segment, which also includes Nuclear and Precision Health Solutions and OptiFreight Logistics, posted a profit of $11 million, a 5% increase, due to the performance of OptiFreight Logistics. Overall, Cardinal Health reported revenue of $54.9 billion, a 9% increase, with the company’s Pharmaceutical and Specialty Solutions segment leading the way with revenue of $50.7 billion, a 9% increase year over year, and a profit of $580 million, a 4% increase. "In Q3, we delivered broad-based growth, including solid profit growth in Pharmaceutical and Specialty Solutions, on top of an exceptionally strong quarter from a year ago," said Jason Hollar, CEO of Cardinal Health. "We were also pleased to see the ongoing acceleration in GMPD. With confidence in our outlook for the year, we are raising and narrowing our FY24 EPS guidance and providing preliminary guidance for FY25 that reflects the strength and resiliency of our company." Cardinal Health raised and narrowed its fiscal year 2024 guidance range for non-GAAP diluted earnings per share to $7.30 to $7.40, from $7.20 to $7.35. This guidance includes an update to the company's Pharmaceutical and Specialty Solutions segment profit outlook to 8.5% to 9.5% growth, from 7% to 9% growth. Additionally, the company updated expectations for its non-GAAP effective tax rate to a range of 22% to 23%, from 23% to 24%. Cardinal Health expects its “other” segment to record about 10% profit growth in its upcoming fiscal year 2025.