Cardinal Health misses by $0.12, reports revs in-line; slashes FY18 EPS guidance
- Reports Q3 (Mar) earnings of $1.39 per share, excluding non-recurring items, $0.12 worse than the Capital IQ Consensus of $1.51; revenues rose 5.7% year/year to $33.63 bln vs the $33.48 bln Capital IQ Consensus.
- Co lowers guidance for FY18, sees EPS of $4.85-4.95 (Prior $5.25-5.50), excluding non-recurring items, vs. $5.42 Capital IQ Consensus Estimate.
- This new guidance reflects the company's updated view on the performance of Cordis and its negative effect on the tax rate. The company will offer commentary for fiscal year 2019 during its earnings call today and expects to provide specific guidance when it reports year-end results in August.
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