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FOR IMMEDIATE RELEASE Cardinal Health Reports First Quarter Fiscal 2022 Results • Revenue increased 13 % to $ 44.0 billion Exhibit 99.1 Cardinal Health Essential to care " • • • • GAAP¹ operating earnings were $ 415 million , GAAP diluted EPS were $ 0.94 Non - GAAP operating earnings decreased 15 % to $ 527 million , non - GAAP diluted EPS decreased 15 % to $ 1.29 Board of Directors approved a 3 - year authorization to repurchase up to an additional $ 3 billion of Cardinal Health common shares FY22 non - GAAP EPS guidance reaffirmed , long - term financial targets announced DUBLIN , Ohio , November 9 , 2021 - Cardinal Health ( NYSE : CAH ) today reported first quarter fiscal year 2022 revenues of $ 44.0 billion , an increase of 13 % from the first quarter of last year . First quarter GAAP operating earnings were $ 415 million and GAAP diluted earnings per share ( EPS ) were $ 0.94 . Prior year first quarter GAAP results included an operating loss of $ 624 million due to a $ 1.0 billion pretax accrual related to opioid litigation . Non - GAAP operating earnings decreased 15 % to $ 527 million in the quarter , primarily due to a decline in Medical segment profit . Non - GAAP diluted earnings per share decreased 15 % to $ 1.29 . “ Our first quarter results were in line with our expectations , ” said Mike Kaufmann , CEO of Cardinal Health . " We are reaffirming our full- year non - GAAP EPS guidance , despite our expectation that we will see greater inflationary pressures in the Medical segment for the remainder of the year , which we are taking action to mitigate . With an additional $ 3 billion share repurchase authorization and our commitment to our dividend , we are positioned to return capital to shareholders , while prioritizing investment in our growth businesses , technology and digital transformation , simplifying our operating model , and strengthening our core businesses , " Kaufmann concluded . Q1 FY22 summary Q1 FY22 Q1 FY21 Y / Y Revenue $ 44.0 billion $ Operating earnings / ( loss ) $ 415 million $ 39.1 billion ( 624 ) million 13 % N.M. Non - GAAP operating earnings $ 527 million $ 618 million ( 15 ) % Net earnings / ( loss ) attributable to Cardinal Health , Inc. Non - GAAP net earnings attributable to Cardinal Health , Inc. Effective Tax Rate $ 271 million $ ( 253 ) million N.M. $ 372 million $ 445 million ( 17 ) % 26.3 % 61.8 % ² Non - GAAP Effective Tax Rate 24.2 % 23.1 % Diluted EPS attributable to Cardinal Health , Inc. $ 0.94 $ ( 0.86 ) N.M. Non - GAAP diluted EPS attributable to Cardinal Health , Inc. $ 1.29 $ 1.51 ( 15 ) %