Companies

Cardinal Health Inc

NYSE: CAH
$247.18
▼ $1.43 (−0.58%) today
Markets closed · 10:44pm ET

Q3 2026 Earnings

Reported Apr 30, 2026, 6:47am ET · SEC source
$3.17
Beat +13.70%
EPS · est. $2.79
$60.9B
Miss −2.19%
Revenue · est. $62.3B
−4.7%
Trailing market
CAH vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−9%−6%−3%0Apr 30May 1report 6:47am ETearnings+1.4%−4.8%
−9%−6%−3%0Apr 30May 1earnings+1.4%−4.8%
CAH −4.8%S&P 500 +1.4%
−9%−6%−3%0Apr 30May 1report 6:47am ETearnings+1.7%−4.8%
−9%−6%−3%0Apr 30May 1earnings+1.7%−4.8%
CAH −4.8%NASDAQ +1.7%
−8%−4%0+4%Apr 29May 7report 6:47am ETearnings+2.5%−9.6%
−8%−4%0+4%Apr 29May 7earnings+2.5%−9.6%
CAH −9.6%S&P 500 +2.5%
−10%−5%0+5%Apr 29May 7report 6:47am ETearnings+4.7%−9.6%
−10%−5%0+5%Apr 29May 7earnings+4.7%−9.6%
CAH −9.6%NASDAQ +4.7%
−4.90%
Day of report
+1.22%
Next session
−3.94%
One week
+1.04%
30 days

S&P 500 over the same 30 days: +5.69%.

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 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

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

Cardinal Health CEO, on the earnings call

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 · SEC filings Q3 2025 Q3 2026
$0$20.0B$40.0B$60.0B$54.9B$60.9BRevenue$2.1B$2.5BGross Profit$730.0M$509.0MOperating Income$506.0M$399.0MNet Income
$0$20.0B$40.0B$60.0BRevenueGross ProfitOperating IncomeNet Income

CAH Revenue by Segment

Pharmaceutical and Specialty Solutions$56.1B+11.0%
Global Medical Products and Distribution$3.1B+0.0%
Other$1.7B+31.0%

Figures from SEC filings and company reports. Not investment advice.