Cardinal Health Earnings Reports

Cardinal Health reported a 13% increase in revenue to $50.5 billion for Q3 2023, driven by growth in the Pharmaceutical segment. GAAP operating earnings were $572 million, and GAAP diluted EPS was $1.34. Non-GAAP operating earnings increased by 11% to $606 million, and non-GAAP diluted EPS rose by 20% to $1.74. The company raised its full-year non-GAAP EPS and adjusted free cash flow guidance.

Cardinal Health initiated two voluntary field actions for select Cardinal Health Presource® Procedure Packs containing gowns due to concerns over sterility from an unapproved supplier. The company expects to record a $96 million charge in the second quarter of fiscal year 2020 related to these recalls.