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Shares of
Cardinal Well being
slumped Thursday immediately after the drug distributor shipped disappointing quarterly earnings and stated its CEO is stepping down.
The firm (ticker: CAH) documented an modified revenue of $1.05 a share for its fiscal fourth quarter, which ended in June, although the consensus simply call amid analysts tracked by
FactSet
was for $1.17. Income was $47.1 billion, beating the $44.7 billion analysts predicted.
Cardinal Well being
also mentioned that CEO Mike Kaufmann, who has been at the corporation for 30 yrs, is stepping down. He will be succeeded by Main Economic Officer Jason Hollar, powerful in September. Hollar has been CFO because Could 2020.
Shares (ticker: CAH) fell 4% to $60.28 in premarket buying and selling. Create to Karishma Vanjani at karishma.vanjani@dowjones.com