Cardinal Health Reports Q2 Profit Beat And Revenue Miss

By Emma Court Markets MarketWatch Pulse

Cardinal Health reported a second-quarter profit beat and revenue miss early Tuesday. Profit for the latest quarter declined to $324 million, or $1.02 per share, from $326 million, or 98 cents per share in the year-earlier period. The latest results include headwinds in its pharmaceutical business due to generic pricing and the loss of a large pharmaceutical distribution customer, which caused segment profit to decrease 14% from the year-earlier period, Cardinal Health said. Adjusted earnings per share were $1.34, above the FactSet consensus of $1.23. Revenue rose to $33.1 billion from $31.4 billion in the year-earlier period, compared with the FactSet consensus of $33.5 billion. Cardinal Health shares have risen 15.1% over the last three months, compared with a 7.6% rise in the S&P 500 .

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