Cardinal Health cuts Medical segment Q1 FY23 guidance to $55M-$25M loss on glove inventory charges

CARDINAL HEALTH INC

Medical segment loss expected $55M-$25M for Q1 FY23, down from prior range of $20M loss to $20M profit.
Inventory charges of ~$25M from gloves portfolio simplification, including sale of disposable gloves for non-healthcare industries.
Reaffirmed FY2023 non-GAAP diluted EPS guidance of $5.05-$5.40.
Presentation at Morgan Stanley conference scheduled for Sept 13, 2022.

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