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CARDINAL HEALTH INC Quarterly Report for Q3 Ended Mar 31, 2026

Filing Date
Filed April 30, 2026
Period End
March 31, 2026
Security
CAH
In the record · 2016–202610-K1110-Q328-K120

CAH filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 120 current reports (8-K) between 2016 and 2026.

  1. Restructuring8-K · Aug ’19Aug ’19
  2. Impairment8-K · Mar ’21Mar ’21
  3. Material agreement8-K · Mar ’23Mar ’23
  4. Leadership change8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 10-Q filed April 30, 2026. Cited figures are marked; the original filing is the authoritative source.

Cardinal Health Inc. reported strong revenue growth in the third quarter of fiscal year 2026, with a 11% increase to $60.9 billiona for the quarter and a 17% increase to $190.6 billion for the nine-month period.

This growth was primarily driven by strong performance in branded and specialty pharmaceutical sales. While GAAP operating earnings saw a decrease of 30% to $509 millionb for the quarter, largely due to a significant goodwill impairment charge related to the Navista & ION reporting unit, non-GAAP operating earnings increased by 18% to $956 million. This highlights the company's underlying operational strength excluding one-time charges.

Despite the GAAP earnings dip, the company demonstrated robust non-GAAP diluted EPS growth of 35% to $3.17c for the quarter and 36% to $8.35 for the nine-month period. Significant strategic acquisitions, including Solaris Health, Advanced Diabetes Supply Group, and GI Alliance, are contributing positively to revenue and profit growth, particularly within the Pharmaceutical and Specialty Solutions segment. The company's liquidity remains strong, with $3.9 billion in cash and equivalents and access to substantial credit facilities.

02—Key points

Key Highlights

  1. Consolidated revenue surged by 11% to $60.9 billion for the third quarter of fiscal 2026, driven by strong performance in the Pharmaceutical and Specialty Solutions segment.
  2. Non-GAAP operating earnings increased by 18% to $956 million for the quarter, showcasing underlying business growth despite a 30% decrease in GAAP operating earnings ($509 million), which was impacted by a $184 million goodwill impairment charge.
  3. Non-GAAP diluted EPS demonstrated substantial growth, rising 35% to $3.17 for the quarter and 36% to $8.35 for the nine-month period.
  4. The Pharmaceutical and Specialty Solutions segment saw revenue increase by 11% to $56.1 billion for the quarter, with segment profit growing 18% to $784 million, boosted by acquisitions and generics program performance.
  5. Strategic acquisitions, including Solaris Health, Advanced Diabetes Supply Group, and GI Alliance, are positively contributing to the company's financial results.
  6. The company maintained a strong liquidity position with $3.9 billion in cash and equivalents and compliance with its net leverage ratio covenant.
  7. Increased interest expense, particularly for the nine-month period (up 91% to $269 million), is noted, primarily due to additional debt financing for recent acquisitions.

03—Questions

Frequently Asked Questions

  1. What is the primary driver of Cardinal Health's revenue growth in Q3 FY2026?

    Cardinal Health's revenue growth in Q3 FY2026 was primarily driven by strong sales of branded and specialty pharmaceutical products from existing and new customers, particularly within the Pharmaceutical and Specialty Solutions segment.

  2. What caused the significant decrease in GAAP operating earnings for the quarter?

    The GAAP operating earnings for the quarter decreased by 30% primarily due to a $184 million pre-tax non-cash goodwill impairment charge related to the Navista & ION reporting unit within the Pharma segment. This was partially offset by strong underlying performance.

  3. How are the recent acquisitions impacting the company's performance?

    Recent acquisitions, such as Solaris Health, Advanced Diabetes Supply Group, and GI Alliance, are positively impacting the company's performance. They are contributing to revenue growth and segment profit, particularly within the Pharmaceutical and Specialty Solutions segment, and are a key reason for increased interest expenses due to associated debt financing.

  4. What is the company's liquidity position, and are there any significant debt concerns?

    The company maintains a strong liquidity position with $3.9 billion in cash and equivalents. It also has access to credit facilities and is in compliance with its net leverage ratio covenant. While long-term obligations have increased due to acquisition financing, the company appears well-positioned to manage its debt.

04—Continue

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