Cardinal Health (NYSE: CAH), Dublin, Ohio, distributor of pharmaceuticals and medical and laboratory products, reported sales for its fiscal 2022 fourth quarter ended June 30, 2022, were $47.1 billion, up 11% from the prior-year period.
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Net profit for the fourth quarter was $138 million, up 19% from the prior-year period. Cardinal also reported its total-year sales for 2022 were $181.4 billion, up 12% from 2021. Net loss for the total year was $933 million.
“In fiscal year 2022, Medical segment performance was significantly impacted by inflation and supply chain constraints,” said Mike Kauffman, CEO. “In addition, the Pharmaceutical segment grew 5% and we generated strong cash flow, returning $1.6 billion to our shareholders through share repurchases and dividends.”
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.