Cardinal Health Inc. surpassed $200 billion in revenue for the first time in its 52-year history, and had a more than $1 billion turnaround to profit from loss, in a year that brought a CEO change and activist investor review.

The Dublin healthcare distribution giant posted a $261 million profit in fiscal 2023, swinging dramatically from the prior year’s $932 million loss, which was mostly due to non-cash accounting charges in the medical division.

Cardinal’s (NYSE: CAH) revenue of $205 billion for the year ended June 30 represented a 13% increase from 2022’s record $181 billion in sales.

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