From RTTNews:

Cardinal Health has updated its fiscal 2024 non-GAAP EPS guidance to the high end of $6.75 to $7.00 range. This update is driven by favorable fiscal 24 Interest and Other and Diluted Weighted Average Shares Outstanding, as well as strong cash flow generation. The company also plans to invest in growth businesses within the Medical Segment and has announced a realignment of its business, which includes updated operating and segment reporting structure. Effective January 1, 2024, the company will operate under two reportable segments: Pharmaceutical and Specialty Solutions and Global Medical Products and Distribution. Other businesses, including Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight Logistics, will be reported separately. For more details on this news, visit rttnews.com.

The new $250 million accelerated share repurchase program in the second quarter is expected to contribute to higher-than-expected cash balances for Cardinal Health. In addition, the company has reiterated its long-term financial targets, reflecting 12% to 14% growth of non-GAAP EPS. Cardinal Health stated that investing in and further developing growth businesses within the Medical Segment, at-Home Solutions, and OptiFreight Logistics will drive significant long-term shareholder value creation. For additional earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Cardinal Health has completed a review of growth businesses within the Medical Segment, at-Home Solutions, and OptiFreight Logistics, and has determined that investing in and further developing these businesses will drive the most significant long-term shareholder value creation for Cardinal Health. The company has also announced plans to realign its business effective January 1, 2024, operating under an updated enterprise operating and segment reporting structure. Two reportable segments have been defined: Pharmaceutical and Specialty Solutions and Global Medical Products and Distribution, while Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight Logistics will be reported separately. For more details on this news, visit rttnews.com.



Read more: Cardinal Health Updates FY24 Non-GAAP EPS Guidance To High End Of Range