Cardinal Health earnings: guidance and results
Cardinal Health's next results are expected on November 5, 2026. The key thing to watch is whether management changes its outlook or provides more detail on the CVS agreement.
What has Cardinal Health guided for fiscal 2027?
For the year ending June 2027, management guides to $12.40–$12.60 per share. It describes that as 13%–15% growth from tariff-adjusted FY26 EPS of $10.95. The reported FY26 non-GAAP figure was $11.26, including a $0.31 one-time tariff refund, so the comparison deliberately removes that windfall.
Pharmaceutical and Specialty Solutions is guided to 3%–5% revenue growth and 8%–11% segment-profit growth. Global Medical Products and Distribution is guided to 2%–4% revenue growth and $200 million–$220 million of segment profit. The smaller “Other” group is expected to grow faster, but its scale is different: the main pharmaceutical segment generated $234.8 billion of FY26 revenue, while Other generated $6.8 billion.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Non-GAAP earnings per share | Year to Jun 2027 | 12.40 | 12.60 | Oct 1, 2026 |
| Non-GAAP diluted EPS growth (%) | Year to Jun 2027 | 13.0% | 15.0% | Aug 11, 2026 |
| Pharmaceutical and Specialty Solutions segment: Revenue growth (%) | Year to Jun 2027 | 3.0% | 5.0% | Aug 11, 2026 |
| Pharmaceutical and Specialty Solutions segment: Segment profit growth (%) | Year to Jun 2027 | 8.0% | 11.0% | Aug 11, 2026 |
| Global Medical Products and Distribution segment: Segment profit | Year to Jun 2027 | 200 | 220 | Aug 11, 2026 |
| Non-GAAP adjusted free cash flow (US$ billions) | Year to Jun 2027 | 3.5 | 4.0 | Aug 11, 2026 |
What were Cardinal Health's last eight quarters?
For the quarter ended June 2026, revenue, gross profit, operating income and diluted EPS all improved from the prior-year quarter. Cash from operations also rose, although quarterly cash remains sensitive to payment timing.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 63,672 | 60,940 | 65,627 | 64,009 | 60,159 | 54,878 | 55,264 | 52,277 |
| Gross margin | 4.0% | 4.1% | 3.7% | 3.6% | 3.7% | 3.9% | 3.5% | 3.6% |
| Operating income | 729 | 509 | 707 | 668 | 428 | 730 | 549 | 568 |
| Net income | 398 | 399 | 467 | 450 | 239 | 506 | 400 | 416 |
| EPS, diluted | 1.70 | 1.69 | 1.97 | 1.88 | 1.00 | 2.10 | 1.65 | 1.70 |
| = Free cash flow | 1,428 | 1,677 | 555 | 865 | 1,288 | 2,794 | -495 | -1,737 |
What this means. These are three-month amounts, even though some descriptions say “year,” so they are not full-year totals.
What should I watch in Cardinal Health's next results?
The renewal preserves volume and reduces the immediate risk of losing a major account, but it does not disclose prices, service requirements or profitability. A large customer can also negotiate from a position of strength, so the specialist still needs the commercial terms.
The next results call should show whether management changes its FY27 outlook or provides more detail on the CVS agreement. The longer test is whether Indianapolis improves the network without consuming the cash the plan depends on.