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Donnerstag, 08.08.2019 12:56 von PR Newswire | Aufrufe: 95

Cardinal Health Reports Fourth Quarter and Full Year Results for Fiscal Year 2019

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PR Newswire

DUBLIN, Ohio, Aug. 8, 2019

DUBLIN, Ohio, Aug. 8, 2019 /PRNewswire/ -- Cardinal Health (NYSE: CAH) today reported fourth quarter fiscal year 2019 revenues of $37.4 billion, an increase of 6 percent from the fourth quarter last year. GAAP operating earnings were $307 million and non-GAAP operating earnings were $507 million in the quarter. GAAP diluted earnings per share (EPS) for the fourth quarter were $0.65, while non-GAAP diluted EPS were $1.11.

Cardinal Health, Inc. is a global, integrated healthcare services and products company, providing customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories and physician offices worldwide. (PRNewsfoto/Cardinal Health)

Fiscal 2019 revenues were $145.5 billion, an increase of 6 percent from fiscal 2018. GAAP operating earnings were $2.1 billion and non-GAAP operating earnings were $2.4 billion for the year. GAAP diluted EPS for fiscal year 2019 were $4.53, while non-GAAP diluted EPS were $5.28.

"The fourth quarter capped off a year of progress for Cardinal Health," said Mike Kaufmann, CEO of Cardinal Health. "During fiscal 2019, we delivered on our overall commitments and made significant strides on key initiatives that position us for growth in an evolving healthcare environment. While we still have work to do, we look forward to building on this foundation in the coming year and continuing to enhance the value we provide to our customers and their patients."

Q4 and full year FY19 summary

Q4 FY19

ARIVA.DE Börsen-Geflüster

Kurse

Cardinal Health

96,58 €

-0,19%

Q4 FY18

Y/Y

FY19

FY18

Y/Y

Revenue

$37.4 billion

$35.3 billion

$145.5 billion

$136.8 billion

Operating
earnings/(loss)

$307 million

$(1.1) billion

N.M.

$2.1 billion

$126 million

N.M.

Non-GAAP
operating earnings

$507 million

$465 million

$2.4 billion

$2.6 billion

(9)%

Net earnings/(loss)
attributable to
Cardinal Health, Inc.

$194 million

$(1.2) billion

N.M.

$1.4 billion

$256 million

N.M.

Non-GAAP net
earnings
attributable to
Cardinal Health, Inc.

$334 million

$315 million

$1.6 billion

Diluted EPS
attributable to
Cardinal Health, Inc.

$0.65

$(3.76)

N.M.

$4.53

$0.81

N.M.

Non-GAAP diluted
EPS attributable to
Cardinal Health, Inc.

$1.11

$1.01

10%

$5.28

$5.00

Fiscal year 2019 GAAP results included a pre-tax gain of $508 million from the divestiture of the company's naviHealth business. Fiscal 2018 GAAP results included a $1.4 billion goodwill impairment taken in the fourth fiscal quarter related to the Medical segment and transitional tax benefits of $936 million due to the enactment of the U.S. Tax Cuts and Jobs Act ("U.S. tax reform").

Tax rate

During the fourth quarter of 2019 and 2018, GAAP effective tax rates were 18.4 percent and 1.8 percent, respectively. In fiscal years 2019 and 2018, GAAP effective tax rates were 22.1 percent and 213.8 percent, respectively. The fiscal year 2018 GAAP fourth quarter and full year effective tax rates were adversely impacted by the non-deductible Medical segment goodwill impairment. Additionally, the fiscal year 2018 GAAP effective tax rate benefitted from transitional tax benefits of $936 million due to the enactment of U.S. tax reform. The fiscal year 2019 GAAP fourth quarter effective tax rate was unfavorably impacted by net discrete items whereas the fiscal year 2018 GAAP fourth quarter effective tax rate was favorably impacted by net discrete items.

During the fourth quarter of 2019 and 2018, non-GAAP effective tax rates were 23.7 percent and 11.8 percent, respectively. In fiscal years 2019 and 2018, non-GAAP effective tax rates were 22.1 percent and 29.3 percent, respectively. Fiscal 2019 GAAP and non-GAAP effective tax rates were favorably impacted by the full benefit of the lower U.S. federal income tax rate due to U.S. tax reform. The fiscal year 2019 non-GAAP fourth quarter effective tax rate was unfavorably impacted by net discrete items whereas the fiscal year 2018 non-GAAP fourth quarter effective tax rate was favorably impacted by net discrete items.

Segment results

Pharmaceutical segment

Fourth quarter revenue for the Pharmaceutical segment increased 6 percent to $33.4 billion due to sales growth from Pharmaceutical Distribution and Specialty Solutions customers.

Pharmaceutical segment profit increased 7 percent to $447 million in the fourth quarter, which reflects the positive impact from Specialty Solutions and a higher contribution from brand sales and mix, partially offset by the company's generics program performance.

Q4 FY19

Q4 FY18

Y/Y

FY19

FY18

Y/Y

Revenue

$33.4 billion

$31.5 billion

$129.9 billion

$121.2 billion

Segment profit

$447 million

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