Analyst Consensus ?
ConsensusBuy33 ratings
Bullish1854.5%
Neutral1545.5%
Bearish00.0%
Cardinal Health, Inc. · CAH · FY2024 Q4 · Calendar Q3 2024
Cardinal Health raises FY25 EPS outlook despite contract loss
Cardinal Health's FY24 results and raised FY25 EPS outlook support a constructive operating thesis, but the evidence is conditional: specialty growth, GMPD improvement, logistics investments, and cash generation are expected to offset a large contract loss. The key test is whether these offsets translate into sustained profit growth without the forecast revenue and cash-flow pressure overwhelming execution.
Reported Before market openNYSEHealthcare
$57.79B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.84
Consensus $1.73
EPS surprise
+6.4%
Reported versus consensus
Reported revenue
$59.87B
Consensus $58.64B
Revenue surprise
+2.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+3.7%
Event window
SPY move
+0.3%
Same window
Abnormal move
+3.4%
Stock minus SPY
Volume
2.5×
Versus trailing sessions
Subsequent drift
+5.7%
Up to 20 sessions
CAHSPY benchmark
Ask FN2 about CAH FY2024 Q4
Transcript, numbers and history already loaded
Why did CAH rise 3.7% after beating EPS estimates in FY2024 Q4?What changed in CAH's guidance and outlook in FY2024 Q4?Give me the bull and bear case for CAH after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The latest analysis shifts the focus from FY24 performance to FY25 execution. Management raised FY25 EPS guidance to $7.55-$7.70 and highlighted specialty, GMPD, biosimilars, theranostics, and logistics as offsets to a 4-6% revenue headwind from a major contract expiration.
Guidance delta
FY25 EPS guidance was increased to $7.55-$7.70, even as management expects a 4-6% revenue decline from a major contract expiration.
Key takeaways
- Management reported record FY24 EPS of $7.53, up 29% year over year.
- Specialty business grew 14% in FY24 and is expected to deliver continued double-digit profit growth in FY25.
- GMPD inflation mitigation produced a $240 million year-over-year profit improvement, with further profit targets outlined for FY25 and FY26.
- Adjusted free cash flow approached $4 billion in FY24, supporting planned capital investment and share repurchases.
Management priorities
- Expand Specialty Networks and the Averon biosimilars joint venture.
- Scale advanced therapy solutions, theranostics, and PET diagnostic capacity.
- Invest in at-home distribution automation and new logistics capacity.
- Continue GMPD cost optimization and inflation mitigation.
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Try FN2 freeEarnings History
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Analyst 52W Price Targets
$249.57Current
$53Low
$196Average
$295High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Oct 20, 2026 |
| UBS | Buy | Buy | Maintain | Oct 16, 2026 |
| TD Cowen | Buy | Buy | Maintain | Aug 13, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Aug 13, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 13, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 12, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 12, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 12, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 12, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 12, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 2, 2026 |
| Leerink Partners | Outperform | Outperform | Maintain | Aug 12, 2025 |
| Jefferies | Buy | Hold | Upgrade | Feb 5, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Nov 4, 2024 |
| Argus Research | Buy | Buy | Maintain | Sep 11, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | Jun 12, 2023 |
| Cowen & Co. | Market Perform | Market Perform | Maintain | Aug 16, 2022 |
| CFRA | Hold | Hold | Maintain | May 11, 2020 |
| Guggenheim | Neutral | Buy | Downgrade | Dec 16, 2019 |
| Argus | Hold | Buy | Downgrade | Aug 27, 2019 |
| Leerink Swann | Market Perform | Outperform | Downgrade | Nov 16, 2018 |
| RBC Capital | Perform | Sector Perform | Maintain | Sep 19, 2017 |
| Tigress Financial | Neutral | Neutral | Maintain | Apr 28, 2017 |
| William Blair | Market Perform | Outperform | Downgrade | Apr 19, 2017 |
| Needham | Hold | Hold | Maintain | Apr 4, 2017 |
| Goldman Sachs | Neutral | Buy | Downgrade | Sep 16, 2016 |
| Avondale Partners | Outperform | Market Outperform | Maintain | Apr 18, 2016 |
| Raymond James | Market Perform | Outperform | Downgrade | Jan 6, 2016 |
| FBR Capital | Outperform | Outperform | Maintain | Mar 10, 2015 |
| Bank of America | Buy | Buy | Maintain | Dec 29, 2014 |
| Sterne Agee | Buy | Neutral | Upgrade | Nov 6, 2013 |
| ISI Group | Buy | Strong Buy | Downgrade | Mar 20, 2013 |
| Lazard | Neutral | Buy | Downgrade | Mar 19, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $249.57. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Analyst unavailable | $280 | $252.65 | +12.2% | Oct 20, 2026 |
| UBS | Kevin Caliendo | $295 | $253.71 | +18.2% | Oct 16, 2026 |
| RBC Capital | Ryan Halsted | $276 | $234.98 | +10.6% | Aug 19, 2026 |
| Barclays | Analyst unavailable | $275 | $234.16 | +10.2% | Aug 13, 2026 |
| Morgan Stanley | Analyst unavailable | $265 | $236.64 | +6.2% | Aug 12, 2026 |
| Evercore ISI | Analyst unavailable | $270 | $240.26 | +8.2% | Aug 12, 2026 |
| UBS | Analyst unavailable | $280 | $240.26 | +12.2% | Aug 12, 2026 |
| Wells Fargo | Stephen Baxter | $277 | $240.26 | +11.0% | Aug 12, 2026 |
| Mizuho Securities | Steven Valiquette | $250 | $240.26 | +0.2% | Aug 12, 2026 |
| Robert W. Baird | Eric Coldwell | $274 | $240.26 | +9.8% | Aug 12, 2026 |
| Leerink Partners | Analyst unavailable | $292 | $240.26 | +17.0% | Aug 11, 2026 |
| UBS | Analyst unavailable | $274 | $226.42 | +9.8% | Jul 20, 2026 |
| Robert W. Baird | Analyst unavailable | $248 | $195.08 | -0.6% | May 1, 2026 |
| Evercore ISI | Elizabeth Anderson | $240 | $215.13 | -3.8% | Apr 8, 2026 |
| Leerink Partners | Michael Cherny | $275 | $222.28 | +10.2% | Mar 9, 2026 |
| Barclays | Analyst unavailable | $258 | $224.82 | +3.4% | Feb 24, 2026 |
| Wells Fargo | Analyst unavailable | $256 | $225.76 | +2.6% | Feb 10, 2026 |
| Morgan Stanley | Analyst unavailable | $255 | $229.63 | +2.2% | Feb 6, 2026 |
| Robert W. Baird | Analyst unavailable | $252 | $228.78 | +1.0% | Feb 6, 2026 |
| UBS | Kevin Caliendo | $260 | $228.63 | +4.2% | Feb 6, 2026 |
| Mizuho Securities | Steven Valiquette | $235 | $227.18 | -5.8% | Feb 6, 2026 |
| Evercore ISI | Elizabeth Anderson | $260 | $227.18 | +4.2% | Feb 5, 2026 |
| Morgan Stanley | Erin Wright | $245 | $210.39 | -1.8% | Jan 29, 2026 |
| Robert W. Baird | Eric Coldwell | $250 | $211.98 | +0.2% | Jan 14, 2026 |
| Leerink Partners | Michael Cherny | $240 | $208.24 | -3.8% | Jan 13, 2026 |
| Mizuho Securities | Steven Valiquette | $222 | $201.11 | -11.0% | Jan 12, 2026 |
| Barclays | Glen Santangelo | $243 | $198.88 | -2.6% | Dec 8, 2025 |
| Mizuho Securities | Steven Valiquette | $210 | $190.22 | -15.9% | Nov 3, 2025 |
| Jefferies | Analyst unavailable | $220 | $190.22 | -11.8% | Nov 3, 2025 |
| Evercore ISI | Elizabeth Anderson | $220 | $191.29 | -11.8% | Oct 31, 2025 |
| UBS | Analyst unavailable | $220 | $192.07 | -11.8% | Oct 31, 2025 |
| Robert W. Baird | Analyst unavailable | $232 | $192.36 | -7.0% | Oct 31, 2025 |
| Argus Research | Analyst unavailable | $189 | $148.1 | -24.3% | Aug 22, 2025 |
| Leerink Partners | Michael Cherny | $186 | $146.3 | -25.5% | Aug 12, 2025 |
| Jefferies | Brian Tanquilut | $150 | $157.66 | -39.9% | Aug 12, 2025 |
| Morgan Stanley | Erin Wright | $181 | $161.41 | -27.5% | Jun 13, 2025 |
| Wells Fargo | Stephen Baxter | $179 | $155.48 | -28.3% | Jun 3, 2025 |
| Argus Research | Kristina Ruggeri | $148 | $125.17 | -40.7% | Feb 4, 2025 |
| Robert W. Baird | Eric Coldwell | $140 | $112.3 | -43.9% | Sep 23, 2024 |
| Argus Research | David Toung | $125 | $112.36 | -49.9% | Sep 11, 2024 |
| Deutsche Bank | George Hill | $119 | $107.91 | -52.3% | Aug 16, 2024 |
| Evercore ISI | Elizabeth Anderson | $115 | $107.71 | -53.9% | Aug 15, 2024 |
| Morgan Stanley | Erin Wright | $119 | $106.36 | -52.3% | Aug 15, 2024 |
| Mizuho Securities | Ann Hynes | $110 | $107.39 | -55.9% | Aug 15, 2024 |
| Robert W. Baird | Eric Coldwell | $137 | $107.33 | -45.1% | Aug 15, 2024 |
| Wells Fargo | Stephen Baxter | $101 | $106.36 | -59.5% | Aug 15, 2024 |
| CFRA | Garrett Nelson | $111 | $99.01 | -55.5% | Jun 11, 2024 |
| Robert W. Baird | Eric Coldwell | $129 | $94.75 | -48.3% | May 29, 2024 |
| Argus Research | David Toung | $115 | $97.43 | -53.9% | May 15, 2024 |
| Robert W. Baird | Eric Coldwell | $128 | $102.98 | -48.7% | May 3, 2024 |
| Robert W. Baird | Eric Coldwell | $134 | $110.12 | -46.3% | Apr 5, 2024 |
| Morgan Stanley | Erin Wright | $90 | $92.99 | -63.9% | Aug 15, 2023 |
| Wolfe Research | Tim Anderson | $127 | $79.18 | -49.1% | Apr 12, 2023 |
| Robert W. Baird | Baird Baird | $94 | $78.61 | -62.3% | Feb 8, 2023 |
| Credit Suisse | Analyst unavailable | $92 | $80.14 | -63.1% | Feb 3, 2023 |
| Morgan Stanley | Analyst unavailable | $86 | $78.12 | -65.5% | Jan 6, 2023 |
| Credit Suisse | Analyst unavailable | $79 | $79.22 | -68.3% | Nov 22, 2022 |
| UBS | Analyst unavailable | $78 | $68.51 | -68.7% | Aug 29, 2022 |
| Evercore ISI | Elizabeth Anderson | $68 | $55.83 | -72.8% | May 20, 2022 |
| Deutsche Bank | George Hill | $51 | $58.27 | -79.6% | May 8, 2022 |
| Morgan Stanley | Ricky Goldwasser | $74 | $62.96 | -70.3% | Apr 16, 2022 |
| Barclays | Steve Valiquette | $63 | $53.09 | -74.8% | Jan 17, 2022 |
| UBS | Kevin Caliendo | $61 | $48.84 | -75.6% | Nov 17, 2021 |
| Cowen & Co. | Charles Rhyee | $53 | $50.28 | -78.8% | Aug 11, 2021 |
| Bank of America Securities | Michael Cherny | $56 | $49.2 | -77.6% | Aug 5, 2021 |
Track every rating change on CAH the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCardinal Health, Inc. operates as a global, integrated provider of healthcare services and products, with its reach spanning the United States, Canada, Europe, Asia, and other international markets. The company delivers bespoke support to a diverse clientele, including hospitals, healthcare networks, pharmacies, outpatient surgical centers, clinical labs, physician practices, and individuals receiving care at home. It is structured into two core divisions: Pharmaceutical and Medical. The Pharmaceutical division oversees the distribution of a wide array of products, encompassing branded, generic, and specialty pharmaceuticals, along with over-the-counter health and consumer goods. This segment additionally offers specialized services to pharmaceutical manufacturers and healthcare providers, particularly for specialty pharmaceutical products. Its operations extend to managing nuclear pharmacies and facilities that produce radiopharmaceuticals. It also performs repackaging of generic drugs and OTC items.…
Historical context
All CAH earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| RDY Dr. Reddy's Laboratories Limited | FY2027 Q2 · Calendar Q4 2026 | +24.0% | -0.2% | Dr. Reddy’s: margins improve as semaglutide rollout advances |
| DGX Quest Diagnostics Incorporated | FY2026 Q3 · Calendar Q4 2026 | +4.5% | +1.8% | Quest Diagnostics: growth broadens, but PAMA remains a headwind |
| ARGX argenx SE | FY2026 Q3 · Calendar Q4 2026 | — | -1.6% | argenx: VYVGART momentum and a broader late-stage pipeline |
| MEDP Medpace Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | +9.0% | -1.3% | Medpace: Record awards lift backlog as 2026 outlook improves |
| MOH Molina Healthcare, Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.7% | +0.8% | Molina reaffirms 2026 outlook as Florida contract scales |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the CAH recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-25T02:20:41.846434+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T02:20:41.843417+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.