RTTNews | Jan 10, 2022 07:12AM EST

07:11 Monday, January 10, 2022 (RTTNews.com) - Ahead of the presentation at the 40th Annual J.P. Morgan Healthcare Conference on Monday, Cardinal Health (CAH) provided a fiscal year 2022 financial update for the Medical segment.

The company now expects additional inflationary impacts and lower volumes resulting primarily from global supply chain constraints, and a lower-than-expected offset from pricing actions.

The company estimates this incremental impact will be approximately $150 million to $175 million to fiscal year 2022 Medical segment profit and approximately $0.40 to $0.45 per share to adjusted earnings per share. Excluding this impact, the company's other financial expectations for fiscal year 2022 remain unchanged.

Cardinal Health said it continues to take actions to drive performance in the Medical segment, including: simplifying its operating model, evolving its commercial contracting strategies and driving mix, and making investments in its growth businesses.

Additionally, the company reaffirms its previously announced long-term financial targets, expense reduction initiatives, and capital deployment priorities.

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