Comment on Cardinal tops Street 1Q forecasts, hikes fiscal 2016 outlook

Cardinal tops Street 1Q forecasts, hikes fiscal 2016 outlook

DUBLIN, Ohio (AP) — Cardinal Health hiked its 2016 earnings forecast after its first-quarter profit jumped 44 percent and easily beat Wall Street expectations. The prescription drug distributor now expects adjusted earnings for the year to range between $5.15 and $5.35, up from a previous forecast for $4.85 to $5.05 per share. That's also better than the per-share projections from analysts that follow the company, according to FactSet. Cardinal earned $383 million compared with $266 million during last year's first quarter, when the company took a hit from the expiration of a contract with Walgreens, the nation's largest drugstore chain. Cardinal earnings adjusted for one-time costs totaled $1.38 per share in the most recent quarter.Read more on NewsOK.com

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News