Latest News by Industry
DUBLIN, Ohio (AP) _ Cardinal Health Inc. (CAH) on Thursday reported a fiscal second-quarter loss of $130 million, after reporting a profit in the same period a year earlier.
The Dublin, Ohio-based company said it had a loss of 50 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.32 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The prescription drug distributor posted revenue of $51.47 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $50.44 billion.
Cardinal expects full-year earnings in the range of $5.20 to $5.50 per share.
Cardinal shares have decreased 1.5% since the beginning of the year, while the S&P's 500 index has climbed slightly more than 7%. The stock has increased 48% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CAH">Zacks stock report on CAH at https://www.zacks.com/ap/CAH