The company said revenue rose 12% and 11% to $57.4 billion and $112.2 billion for the 3-month and 6-month periods ended December 31, 2023, respectively. It cited branded and specialty pharmaceutical sales growth from existing customers as the main factor.

10-QQuarterly reportFiled Feb 1, 2024Period of report Dec 31, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said revenue rose 12% and 11% to $57.4 billion and $112.2 billion for the 3-month and 6-month periods ended December 31, 2023, respectively. It cited branded and specialty pharmaceutical sales growth from existing customers as the main factor.
Cardinal Health said it recognized a pre-tax goodwill impairment charge of $581 million related to the Medical Unit for the 6-month period ended December 31, 2023. It attributed the charge to a 1% increase in the discount rate, from 10% to 11%.
The company said net cash provided by operating activities was $1.7 billion for the 6-month period ended December 31, 2023. It also said it deployed $750 million for share repurchases, $255 million for cash dividends and $206 million for capital expenditures.
The company said on January 31, 2024 that it had entered into a definitive agreement to acquire Specialty Networks for $1.2 billion in cash, subject to certain adjustments. It said it plans to fund the acquisition with available cash.

Key figures

Quarter ended December 31, 2023

Revenue: $57.4B
Operating income: $482M
Net income: $353M
Gross profit: $1.8B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly and Six-Month Revenue

The company said revenue rose 12% and 11% to $57.4 billion and $112.2 billion for the 3-month and 6-month periods ended December 31, 2023, respectively. It cited branded and specialty pharmaceutical sales growth from existing customers as the main factor.

Source · Based on the MD&A text of the filing

Medical Unit Goodwill Impairment Charge

Cardinal Health said it recognized a pre-tax goodwill impairment charge of $581 million related to the Medical Unit for the 6-month period ended December 31, 2023. It attributed the charge to a 1% increase in the discount rate, from 10% to 11%.

Source · Based on the MD&A text of the filing

6-Month Cash Flow and Use of Funds

The company said net cash provided by operating activities was $1.7 billion for the 6-month period ended December 31, 2023. It also said it deployed $750 million for share repurchases, $255 million for cash dividends and $206 million for capital expenditures.

Source · Based on the MD&A text of the filing

Specialty Networks Acquisition Agreement

The company said on January 31, 2024 that it had entered into a definitive agreement to acquire Specialty Networks for $1.2 billion in cash, subject to certain adjustments. It said it plans to fund the acquisition with available cash.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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