Cardinal Health

Cardinal Health (CAH) Q3 2026 Earnings

Reported Apr 30, 2026 at 6:47 AM ET · SEC Source

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).

24/7 Wall St

CAH YoY Financials

Q3 2026 vs Q3 2025, source: SEC Filings

24/7 Wall St

CAH Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q3 26

“An excellent third quarter extends our FY26 momentum, due to the durability and resilience of our business.”

— Jason Hollar, Q3 2026 Earnings Press Release