Cardinal Health (NYSE:CAH) is an Ohio-based multinational health-care services company. It is one of the 15 largest revenue generating companies in the United States. Shares have climbed 14% year-over-year as of close on January 14.
Investors can expect to see the company’s second quarter fiscal 2020 results in early February. In the first quarter, Cardinal Health reported revenue of $37.3 billion which was up 6% from the prior year.
Segment profit in its Medical segment climbed 26% from the prior year to $170 million. This was fueled by organic growth in products and distribution and Cardinal Health Home. It received a big boost from cost savings initiatives.
The company reaffirmed its fiscal 2020 outlook in the quarterly report. It is projecting non-GAAP diluted earnings per share between $4.85 and $5.10 for the full year.
Health-care was one of the most reliable sectors for growth in the 2010s, and this will most certainly continue in 2020 and beyond as the United States wrestles with an aging and growing population.
Not only is Cardinal Health a dominant player in this sector, but it is also a dividend aristocrat. This means that it has increased its dividend for at least 25 consecutive years.
It last hiked its quarterly dividend to $0.4811 per share. This represents a 3.5% yield. Cardinal Health has increased its dividend for exactly 25 consecutive years after another increase in 2019.
