08:46 AM EDT, 08/14/2024 (MT Newswires) -- Cardinal Health ( CAH ) lifted its full-year earnings outlook on Wednesday as the drug distributor delivered higher fiscal fourth-quarter results that exceeded market estimates.

The company now expects adjusted earnings to be in a range of $7.55 to $7.70 a share for fiscal 2025, up from its previous projection of at least $7.50. The consensus on Capital IQ is for normalized EPS of $7.58. In fiscal 2024, Cardinal Health's ( CAH ) adjusted EPS climbed 29% to $7.53.

"Fiscal 2024 marked a year of strong operational execution and record financial results, delivered in tandem with key strategic progress in the portfolio," Chief Executive Jason Hollar said in a statement. "We enter the new fiscal year with momentum and confidence, evidenced by our raised fiscal year 2025 guidance."

Revenue in the company's pharmaceutical and specialty solutions division is anticipated to decline 4% to 6% for the ongoing fiscal year, while segment profit is now pegged to increase 1% to 3% versus the prior guidance for at least 1% growth. Global medical products and distribution sales are forecast to rise 3% to 5%.

For the June quarter, adjusted EPS jumped to $1.84 from $1.43 in the 2023 quarter, topping the Street's view for $1.73. Revenue advanced 12% to $59.87 billion, ahead of analysts' $58.63 billion estimate. The stock was up 6.5% in premarket activity.

Pharmaceutical and specialty solutions revenue rose 13% to $55.61 billion, buoyed by brand and specialty pharmaceutical sales growth from existing customers, Cardinal said. Segment profit climbed 8%, boosted by the firm's generics program.

Revenue in the global medical products and distribution ticked up 2% to $3.11 billion aided by volume growth. Other revenue inclined 15% to $1.17 billion driven by gains in the at-home solutions, nuclear and precision health and OptiFreight Logistics.

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