Q3 26 EPS
$3.17
BEAT +13.70%
Est. $2.79
Q3 26 Revenue
$60.94B
MISS 2.19%
Est. $62.30B
vs S&P Since Q3 26
+13.0%
BEATING MARKET
CAH +16.8% vs S&P +3.8%
Market Reaction
Did CAH Beat Earnings? Q3 2026 Results
Cardinal Health delivered a standout fiscal third quarter for 2026, posting non-GAAP diluted EPS of $3.17 and beating the $2.79 consensus estimate by 13.69%, extending the company's streak of consensus EPS beats to four consecutive quarters. Revenue … Read more Cardinal Health delivered a standout fiscal third quarter for 2026, posting non-GAAP diluted EPS of $3.17 and beating the $2.79 consensus estimate by 13.69%, extending the company's streak of consensus EPS beats to four consecutive quarters. Revenue climbed 11.1% year-over-year to $60.94 billion, though it fell short of the $62.24 billion analyst estimate by 2.09%, as broad-based pharmaceutical distribution strength was partially offset by segment-level headwinds. The primary engine behind the earnings outperformance was a sharply lower non-GAAP effective tax rate of 10.2%, down from 22.4% a year ago, driven by discrete tax planning benefits, alongside robust profit growth in the Pharmaceutical and Specialty Solutions segment, which expanded segment profit 18% to $784.00 million. On the GAAP side, a $184.00 million goodwill impairment charge weighed on results, pulling GAAP diluted EPS down 20% to $1.69. Looking ahead, Cardinal Health raised its full-year non-GAAP EPS guidance to $10.70-$10.80, reflecting 30%-31% growth, and lifted adjusted free cash flow guidance to $3.30 billion-$3.70 billion.
Key Takeaways
- • Brand and specialty pharmaceutical sales growth from existing customers drove Pharmaceutical and Specialty Solutions revenue growth
- • Positive generics program performance contributed to Pharma segment profit growth
- • Lower non-GAAP effective tax rate of 10.2% (from 22.4%) due to discrete planning benefits boosted non-GAAP EPS
- • Lower share count from repurchase activity contributed to EPS growth
- • Growth across at-Home Solutions, Nuclear and Precision Health Solutions, and OptiFreight Logistics drove Other segment results
- • Advanced Diabetes Supply acquisition contributed to Other segment growth
CAH Forward Guidance & Outlook
Cardinal Health raised and narrowed FY2026 non-GAAP diluted EPS guidance to $10.70–$10.80, representing 30%–31% growth. Pharmaceutical and Specialty Solutions segment profit growth raised to 22%–23% (from 20%–22%). Other segment profit growth raised to 36%–38% (from 33%–35%). Non-GAAP effective tax rate lowered to approximately 19% (from 21%–23%). Diluted weighted average shares outstanding decreased to approximately 237 million. Interest and Other expense updated to approximately $340 million (from $325 million). Adjusted free cash flow raised and narrowed to $3.3 billion–$3.7 billion (from $3.0 billion–$3.5 billion).
CAH YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
CAH Revenue by Segment
With YoY comparisons, source: SEC Filings
“An excellent third quarter extends our FY26 momentum, due to the durability and resilience of our business.”
— Jason Hollar, Q3 2026 Earnings Press Release
CAH Earnings Trends
CAH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CAH EPS Trend
Earnings per share: estimate vs actual
CAH Revenue Trend
Quarterly revenue: estimate vs actual
CAH Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $2.79 | $3.17 | +13.70% | $60.94B | -2.19% |
| Q2 26 BEAT | $2.37 | $2.63 | +11.17% | $65.63B | +0.60% |
| Q1 26 BEAT | $2.17 | $2.55 | +17.33% | $64.01B | +8.00% |
| Q4 25 MISS FY | $2.18 | $2.08 | -4.70% | $60.16B | +1.26% |
| FY Full Year | $9.43 | $8.24 | -12.65% | $222.58B | -0.33% |
| Q3 25 BEAT | $2.15 | $2.35 | +9.36% | $54.88B | -0.78% |