Cardinal Health backs FY24 EPS view $7.20-$7.35, consensus $7.29

The company reaffirmed its fiscal 2024 non-GAAP diluted EPS guidance of $7.20 to $7.35. Despite the nonrenewal of the OptumRx contracts, the company also reiterated both its Pharmaceutical and Specialty Solutions long-term segment profit CAGR target of 4% to 6% and its consolidated non-GAAP EPS CAGR target of 12% to 14% for fiscal years 2024 to 2026, relative to a fiscal 2023 baseline. Affirming these targets reflects the company’s ability to achieve sustained growth over the long term and deliver attractive returns for shareholders through an ongoing focus on value creation.