NEW YORK (TheStreet) -- Shares of Cardinal Health (CAH) - Get Report were climbing in pre-market trading on Monday as the company posted higher-than-anticipated results for the fiscal 2017 first quarter.
Before today's market open, the Dublin, OH-based healthcare services provider reported adjusted earnings of $1.24 per share, topping analysts' estimates of $1.21 per share.
Revenue rose 14% year-over-year to $32.0 billion and beat Wall Street projections of $31.1 billion.
"While short-term headwinds, particularly around pharmaceuticals, are quite challenging, our medical segment had an excellent quarter building on momentum coming out of fiscal year 2016," CEO George Barrett said in a statement.
For fiscal 2017, Cardinal expects adjusted earnings per share of $5.40 to $5.60, lower than its prior view of earnings per share between $5.48 and $5.73. Analysts are looking for earnings of $5.59 per share for the year.
Cardinal projects full-year revenue to grow year-over-year in the high single digit percent range.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, notable return on equity, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: CAH