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FOR IMMEDIATE RELEASE Cardinal Health Reports Second - Quarter Results for Fiscal Year 2021 • Revenue increased 5 % to $ 41.5 billion • GAAP¹ operating earnings were $ 461 million , GAAP diluted EPS were $ 2.13 Exhibit 99.1 CardinalHealth Essential to care • Non - GAAP operating earnings decreased 3 % to $ 628 million , non - GAAP diluted EPS increased 14 % to $ 1.74 Company raised FY21 earnings guidance DUBLIN , Ohio , February 5 , 2021 – Cardinal Health ( NYSE : CAH ) today reported second - quarter fiscal year 2021 revenue of $ 41.5 billion , an increase of 5 % from the second quarter of last year . Second - quarter GAAP operating earnings increased 38 % to $ 461 million , primarily due to the beneficial comparison to the prior - year charge related to voluntary surgical gown recalls . GAAP diluted earnings per share ( EPS ) increased to $ 2.13 , primarily due to the tax effect of a self - insurance loss . Non - GAAP operating earnings decreased 3 % to $ 628 million in the quarter , and this decrease included a modest net negative impact from COVID - 19 . The Pharmaceutical segment was adversely affected by COVID - 19 , while the Medical segment experienced a net positive impact . Non - GAAP diluted EPS increased 14 % to $ 1.74 in the quarter , benefiting from a lower non- GAAP effective tax rate . " As we collectively navigate the pandemic , we remain committed to supporting customers , patients , and communities around the world , " said Mike Kaufmann , CEO of Cardinal Health . “ Our second - quarter results demonstrate our resilient business model , strong fundamentals , and the adaptability of our dedicated employees . We remain focused on optimizing our core businesses , investing in key areas , and efficiently deploying capital to drive long - term , sustainable growth . " Q2 FY21 summary Q2 FY21 Q2 FY20 Y / Y Revenue $ 41.5 billion $ 39.7 billion 5 % Operating earnings $ 461 million $ 334 million 38 % Non - GAAP operating earnings $ 628 million $ 646 million ( 3 ) % Net earnings attributable to Cardinal Health , Inc. $ 629 million $ 220 million N.M. Non - GAAP net earnings attributable to Cardinal Health , Inc. Effective Tax Rate $ 514 million $ 448 million 15 % ( 47.6 ) % 21.0 % Non - GAAP Effective Tax Rate 13.2 % 24.8 % Diluted EPS attributable to Cardinal Health , Inc. $ 2.13 $ 0.75 N.M. Non - GAAP diluted EPS attributable to Cardinal Health , Inc. $ 1.74 $ 1.52 14 %