Cardinal Health Inc (CAH)

Cardinal Health Board of Directors Approves Quarterly DividendMay 5, 2026 4:40 PM
PR Newswire (US) DUBLIN, Ohio, May 5, 2026  /PRNewswire/ -- Cardinal Health (NYSE: CAH) announced today that its Board of Directors approved an increase to its quarterly dividend to $0.5158 per share, out of the Company's capital surplus. The dividend will be payable on July 15, 2026 to shareholders of record at the close of business on July 1, 2026. About Cardinal Health
Cardinal?Health is a distributor of pharmaceuticals and specialty products; a global manufacturer and distributor of medical and laboratory products; a supplier of home-health and direct-to-patient products and services;?an operator of nuclear pharmacies and manufacturing facilities; and a provider of performance and data solutions. Our company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day. Learn more about Cardinal Health at?cardinalhealth.com?and in our?Newsroom. Contacts
Media: Erich Timmerman, erich.timmerman@cardinalhealth.com and 614.757.8231
Investors: Matt Sims, matt.sims@cardinalhealth.com and 614.553.3661  View original content to download multimedia:https://www.prnewswire.com/news-releases/cardinal-health-board-of-directors-approves-quarterly-dividend-302763033.htmlSOURCE Cardinal Health Original: Cardinal Health Board of Directors Approves Quarterly Dividend

Cardinal Health Reports Third Quarter Fiscal Year 2026 Results and Raises OutlookApril 30, 2026 6:45 AM
PR Newswire (US)

Revenue increased 11% to $60.9 billionGAAP1 operating earnings decreased 30% to $509 million; GAAP diluted EPS decreased 20% to $1.69Non-GAAP operating earnings increased 18% to $956 million; non-GAAP diluted EPS increased 35% to $3.17Cardinal Health raises and narrows fiscal year 2026 non-GAAP EPS guidance2 to $10.70 to $10.80Cardinal Health reduces debt and completes additional $250 million share repurchase, bringing FY26 repurchase total to $1.0 billionDUBLIN, Ohio, April 30, 2026 /PRNewswire/ -- Cardinal Health (NYSE: CAH) today reported third quarter fiscal year 2026 revenues of $60.9 billion, an increase of 11% from the third quarter of fiscal year 2025.Third quarter GAAP operating earnings decreased 30% to $509 million and GAAP diluted earnings per share (EPS) decreased 20% to $1.69, reflecting a $184 million pre-tax goodwill impairment in the company's Navista & ION reporting unit primarily due to changes in the risk profile of the business plans resulting in an increase in the discount rate. These changes reflect business model updates and base operational performance.Third quarter non-GAAP operating earnings increased 18% to $956 million. Non-GAAP diluted EPS increased 35% to $3.17, reflecting the increase in non-GAAP operating earnings, a lower non-GAAP effective tax rate and a lower share count, partially offset by an increase in interest and other expense."An excellent third quarter extends our FY26 momentum, due to the durability and resilience of our business," said Jason Hollar, CEO of Cardinal Health. "We were pleased to see strong operating performance led by Pharmaceutical and Specialty Solutions and our three growth businesses, positioning us for long-term value creation and giving us the confidence to again raise our fiscal 2026 outlook."Q3 FY26 summary
Q3 FY26
Q3 FY25
Y/YRevenue$60.9 billion
$54.9 billion
11 %Operating earnings$509 million
$730 million
(30) %Non-GAAP operating earnings$956 million
$807 million
18 %Net earnings attributable to Cardinal Health, Inc.$399 million
$506 million
(21) %Non-GAAP net earnings attributable to Cardinal Health, Inc.     $750 million
$568 million
32 %Effective Tax Rate3 3.1 %
23.6 %

Non-GAAP Effective Tax Rate310.2 %
22.4 %

Diluted EPS attributable to Cardinal Health, Inc.$1.69
$2.10
(20) %Non-GAAP diluted EPS attributable to Cardinal Health, Inc.$3.17
$2.35
35 %Segment resultsPharmaceutical and Specialty Solutions segment
Q3 FY26
Q3 FY25
Y/YRevenue$          56.1  billion
$         50.4  billion
11 %Segment profit     $          784  million
$         662  million
18 %Third quarter revenue for the Pharmaceutical and Specialty Solutions segment increased 11% to $56.1 billion, driven by brand and specialty pharmaceutical sales growth from existing customers.Pharmaceutical and Specialty Solutions segment profit increased 18% to $784 million in the third quarter, driven by contributions from brand and specialty products and positive generics program performance.Global Medical Products and Distribution segment
Q3 FY26
Q3 FY25
Y/YRevenue$          3.1  billion
$           3.2  billion
— %Segment profit     $          25  million
$           39  million
(36) %Third quarter revenue for the Global Medical Products and Distribution segment was generally flat to the prior year. This reflected lower distribution volumes, offset by Cardinal Health brand growth.Global Medical Products and Distribution segment profit decreased 36% to $25 million in the third quarter, primarily due to the adverse net impact of tariffs.Other4
Q3 FY26
Q3 FY25
Y/YRevenue$           1.7  billion
$            1.3  billion
31 %Segment profit     $         179  million
$          134  million
34 %Third quarter revenue for Other increased 31% to $1.7 billion, driven by growth across the three operating segments: at-Home Solutions (including the acquisition of Advanced Diabetes Supply), Nuclear and Precision Health Solutions and OptiFreight Logistics.Other segment profit increased 34% to $179 million in the third quarter, driven by growth across the three operating segments: at-Home Solutions (including the acquisition of Advanced Diabetes Supply), OptiFreight Logistics and Nuclear and Precision Health Solutions.Fiscal year 2026 outlook2 Cardinal Health is raising and narrowing its fiscal year 2026 guidance for non-GAAP diluted EPS attributable to Cardinal Health, Inc. to a range of $10.70 to $10.80 (+30% to +31% growth). This updated guidance reflects:Improved operating segment performance:Pharmaceutical and Specialty Solutions segment profit growth of 22% to 23%, from the prior range of 20% to 22%Other segment profit growth of 36% to 38%, from the prior range of 33% to 35%Net below-the-line improvements:Non-GAAP effective tax rate decreased to approximately 19%, from the prior range of 21% to 23%Diluted weighted average shares outstanding decreased to approximately 237 million, from the prior outlook of 237 million to 238 millionInterest and Other expense updated to approximately $340 million, from the prior guidance of approximately $325 millionImproved free cash flow:Adjusted free cash flow raised and narrowed to $3.3 billion to $3.7 billion, from prior guidance of $3.0 billion to $3.5 billionRecent highlightsCardinal Health announced a significant expansion of its Actinium-225 (Ac-225) production capabilities at its Nuclear and Precision Health Solutions Center for Theranostics Advancement (CTA) in Indianapolis, Indiana, substantially increasing supply for use in investigational therapeutic drug products and future commercial manufacturing novel therapies.Specialty Networks and The Specialty Alliance entered an arrangement to partner in supporting a pharma company on a multi-year study focused on understanding real world outcomes.  Patients will receive care at community gastroenterology clinics across the country with Specialty Networks performing the analysis of the results.Cardinal Health reduced debt, completing $100M term loan payment ahead of schedule and lowered its leverage ratio5 to 3.0X, maintaining its targeted range of 2.75 – 3.25X and its investment grade rating.Cardinal Health recently completed an additional $250 million accelerated share repurchase program, bringing year-to-date share repurchases in fiscal year 2026 to $1.0 billion.WebcastCardinal Health will host a webcast today at 8:30 a.m. ET to discuss third quarter results. To access the webcast and corresponding slide presentation, go to the Investor Relations page at ir.cardinalhealth.com. No access code is required. Presentation slides and a webcast replay will be available on the Investor Relations page for 12 months.About Cardinal Health Cardinal Health is a distributor of pharmaceuticals and specialty products; a global manufacturer and distributor of medical and laboratory products; a supplier of home-health and direct-to-patient products and services; an operator of nuclear pharmacies and manufacturing facilities; and a provider of performance and data solutions. Our company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day. Learn more about Cardinal Health at cardinalhealth.com and in our Newsroom.ContactsMedia: Erich Timmerman, Erich.Timmerman@cardinalhealth.com and 614.757.8231
Investors: Matt Sims, Matt.Sims@cardinalhealth.com and 614.553.36611GAAP refers to U.S. generally accepted accounting principles. This news release includes GAAP financial measures as well as non-GAAP financial measures, which are financial measures not calculated in accordance with GAAP. See "Use of Non-GAAP Measures" following the attached schedules for definitions of the non-GAAP financial measures presented in this news release and see the attached schedules for reconciliations of the differences between the non-GAAP financial measures and their most directly comparable GAAP financial measures.
2The company does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. See "Use of Non-GAAP Measures" following the attached schedules for additional explanation.
3The company achieved a GAAP effective tax rate of 3.1% and non-GAAP effective tax rate of 10.2% during the third quarter primarily as a result of discrete planning benefits.
4Other includes the following three operating segments: Nuclear and Precision Health Solutions (NPHS), at-Home Solutions and OptiFreight Logistics, which are not significant enough individually to require reportable segment disclosure.
5The company maintains a targeted leverage range of 2.75x to 3.25x Adjusted Debt to EBITDA as defined by Moody's Ratings. The company achieved 3.0x leverage as of March 31, 2026 per internal estimates.Cardinal Health uses its website as a channel of distribution for material company information. Important information, including news releases, financial information, earnings and analyst presentations, and information about upcoming presentations and events is routinely posted and accessible on the Investor Relations page at ir.cardinalhealth.com. In addition, the website allows investors and other interested persons to sign up automatically to receive email alerts when the company posts news releases, SEC filings and certain other information on its website.Cautions Concerning Forward-Looking Statements This release contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook and various accruals and estimates. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties include our ability to manage uncertainties associated with the pricing of branded pharmaceuticals including those arising from proposed or final regulatory changes,  the risk that we may fail to achieve our strategic objectives, including the operation of recently acquired entities and the continued execution of the GMPD Improvement Plan initiatives; risks and uncertainties related to tariffs, including the risk that we may not be able to offset increased costs or that we will lose customers if our competitors do not increase price on impacted products to the same extent that we do, competitive pressures in Cardinal Health's various lines of business, including the risk that customers may reduce purchases made under their contracts with us or terminate or not renew their contracts, whether due to price increases or otherwise; risks associated with litigation matters, including Department of Justice investigations focused on potential violations of the Anti-Kickback Statute and False Claims Act; the risk that events outside of our control, such as weather or geopolitical events, including the recent conflict with Iran, may impact costs for our products or may cause supply delays or shortages or manufacturing delays that impact our cost and ability to fulfill customer demand; and the performance of our generics program, including the amount or rate of generic deflation and our ability to offset generic deflation and maintain other financial and strategic benefits through our generic sourcing venture or other components of our generics programs. Cardinal Health is subject to additional risks and uncertainties described in Cardinal Health's Form 10-K, Form 10-Q and Form 8K reports and exhibits to those reports. This release reflects management's views as of April 30, 2026. Except to the extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward-looking statement. Forward-looking statements are aspirational and not guarantees or promises that goals, targets or projections will be met, and no assurance can be given that any commitment, expectation, initiative or plan in this report can or will be achieved or completed. Cardinal Health provides definitions and reconciliations of non-GAAP financial measures and their most directly comparable GAAP financial measures at ir.cardinalhealth.comSchedule 1
Cardinal Health, Inc. and Subsidiaries
Condensed Consolidated Statements of Earnings (Unaudited)

Third  Quarter
Year-to-Date(in millions, except per common share amounts)2026
2025
% Change
2026
2025
% ChangeRevenue$     60,940
$     54,878
11 %
$    190,576
$    162,419
17 %Cost of products sold58,442
52,755
11 %
183,362
156,453
17 %Gross margin2,498
2,123
18 %
7,214
5,966
21 %











Operating expenses:










Distribution, selling, general and administrative expenses1,542
1,315
17 %
4,507
3,898
16 %Restructuring and employee severance25
28


66
61

Amortization and other acquisition-related costs114
152


348
331

Acquisition-related cash and share-based compensation costs112
20


243
20

Impairments and (gain)/loss on disposal of assets, net185
(17)


173
(15)

Litigation (recoveries)/charges, net 11
(105)


(7)
(176)

Operating earnings509
730
(30) %
1,884
1,847
2 %











Other (income)/expense, net16
(9)


(5)
(11)

Interest expense, net101
74
36 %
269
141
91 %Earnings before income taxes392
665
(41) %
1,620
1,717
(6) %











Provision for income taxes12
157
(92) %
315
391
(19) %Net earnings380
508
(25) %
1,305
1,326
(2) %











Less: Net (earnings)/loss attributable to noncontrolling interests19
(2)


11
(4)

Net earnings attributable to Cardinal Health, Inc. $          399
$          506
(21) %
$        1,316
$        1,322
— %











Earnings per common share attributable to Cardinal Health, Inc.:     










Basic$         1.69
$         2.11
(20) %
$          5.56
$          5.47
2 %Diluted1.69
2.10
(20) %
5.54
5.44
2 %











Weighted-average number of common shares outstanding:










Basic235
240


237
242

Diluted236
241


238
243

 Schedule 2
Cardinal Health, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in millions)March 31, 2026
June 30, 2025Assets(Unaudited)

Current assets:


Cash and equivalents$          3,937
$          3,874Trade receivables, net13,648
13,242Inventories, net18,007
16,831Prepaid expenses and other2,472
2,414Assets held for sale—
12Total current assets38,064
36,373



Property and equipment, net2,928
2,858Goodwill and other intangibles, net13,698
12,177Other assets1,999
1,714Total assets$         56,689
$         53,122



Liabilities and Shareholders' Deficit


Current liabilities:


Accounts payable$         37,834
$         34,713Current portion of long-term obligations and other short-term borrowings     671
550Other accrued liabilities3,484
3,634Total current liabilities41,989
38,897



Long-term obligations, less current portion8,245
7,977Deferred income taxes and other liabilities9,127
8,882



Total shareholders' deficit(2,672)
(2,634)Total liabilities and shareholders' deficit$         56,689
$         53,122 Schedule 3
Cardinal Health, Inc. and Subsidiaries
Consolidated Statements of Cash Flows (Unaudited)

Third  Quarter
Year-to-Date(in millions)2026
2025
2026
2025Cash flows from operating activities:






Net earnings$          380
$          508
$         1,305
$         1,326







Adjustments to reconcile net earnings to net cash provided by operating activities:






Depreciation and amortization248
207
715
581Impairments and loss on sale of other investments15
—
20
2Impairments and (gain)/loss on disposal of assets, net185
(17)
173
(15)Share-based compensation129
31
309
91Provision for bad debts20
13
47
41Change in operating assets and liabilities, net of effects from acquisitions and divestitures:     






Increase in trade receivables(17)
(114)
(215)
(367)(Increase)/decrease in inventories2,094
758
(1,185)
(1,209)Increase/(decrease) in accounts payable(1,163)
1,424
3,013
954Repurchases of liability-classified Specialty Alliance Units(5)
—
(27)
—Other accrued liabilities and operating items, net(63)
114
(673)
(527)Net cash provided by operating activities1,823
2,924
3,482
877







Cash flows from investing activities:






Acquisition of subsidiaries, net of cash acquired(42)
(2,779)
(1,967)
(3,855)Additions to property and equipment(146)
(126)
(385)
(315)Proceeds from the disposal of property and equipment—
3
31
3Proceeds from investments27
5
27
7Proceeds from short-term investment in time deposit—
—
—
200Other investing items, net(20)
(2)
(9)
(2)Net cash used in investing activities(181)
(2,898)
(2,303)
(3,962)







Cash flows from financing activities:






Proceeds from long-term obligations, net of issuance costs2
—
991
2,869Reduction of long-term obligations(113)
(11)
(637)
(434)Payments of noncontrolling interests, net(4)
(7)
(8)
(7)Net tax proceeds/(withholding) from share-based compensation2
3
(79)
(12)Dividends on common shares(120)
(124)
(371)
(374)Purchase of treasury shares, net(250)
(375)
(1,008)
(765)Net cash provided by/(used in) financing activities(483)
(514)
(1,112)
1,277







Effect of exchange rate changes on cash and equivalents1
4
(4)
1







Net increase/(decrease) in cash and equivalents1,160
(484)
63
(1,807)Cash and equivalents at beginning of period2,777
3,810
3,874
5,133Cash and equivalents at end of period$         3,937
$         3,326
$         3,937
$         3,326 Schedule 4
Cardinal Health, Inc. and Subsidiaries
Segment Information

Third Quarter












Pharmaceutical and Specialty Solutions
Global Medical Products and Distribution
Other(in millions)2026
2025
2026
2025
2026
2025Revenue










Amount$         56,111
$         50,433
$          3,148
$          3,160
$          1,706
$          1,304Growth rate11 %
— %
— %
2 %
31 %
13 %











Segment profit










Amount$              784
$              662
$               25
$               39
$             179
$             134Growth rate18 %
14 %
(36) %
77 %
34 %
22 %Segment profit margin     1.40 %
1.31 %
0.79 %
1.23 %
10.49 %
10.28 %




Year-to-Date












Pharmaceutical and Specialty Solutions
Global Medical Products and Distribution
Other(in millions)2026
2025
2026
2025
2026
2025Revenue










Amount$       175,985
$       149,272
$          9,591
$         9,437
$         5,071
$         3,773Growth rate18 %
(3) %
2 %
2 %
34 %
13 %











Segment profit










Amount$           2,138
$           1,723
$             108
$              65
$            524
$            356Growth rate24 %
12 %
66 %
44 %
47 %
14 %Segment profit margin1.21 %
1.15 %
1.13 %
0.69 %
10.33 %
9.44 %
The sum of the components and certain computations may reflect rounding adjustments. Schedule 5
Cardinal Health, Inc. and Subsidiaries
GAAP / Non-GAAP Reconciliation1









Net













(Earnings)/
Loss






Gross


OperatingEarningsProvisionAttributable
Net

Diluted

Margin
SG&A2
EarningsBeforeforto Non-
Earnings3Effective
EPS 3(in millions, except per common share amounts)GrossGrowth
GrowthOperatingGrowthIncomeIncomecontrollingNetGrowthTaxDilutedGrowthMarginRateSG&A2RateEarningsRateTaxesTaxesInterestsEarnings3RateRateEPS 3RateThird Quarter 2026GAAP$ 2,49818 %$ 1,54217 %$     509(30) %$    392$       12$       19$     399(21) %3.1 %$  1.69(20) %Restructuring and employee severance—
—
25
256—19

0.08
Amortization and other acquisition-related costs—
—
114
11443—71

0.30
Acquisition-related cash & share-based compensation costs—
—
112
1124—108

0.46
Impairments and (gain)/loss on disposal of assets, net 4—
—
185
18522(23)140

0.59
Litigation (recoveries)/charges, net—
—
11
11(2)—13

0.06
Non-GAAP$ 2,49818 %$ 1,54217 %$     95618 %$    840$       86$       (4)$     75032 %10.2 %$  3.1735 %















Third Quarter 2025GAAP$ 2,12310 %$ 1,3154 %$     73098 %$    665$     157$       (2)$     50694 %23.6 %$  2.1096 %Restructuring and employee severance—
—
28
287—21

0.09
Amortization and other acquisition-related costs—
—
152
15234(2)116

0.48
Acquisition-related cash & share-based compensation costs—
—
20
201(4)15

0.06
Impairments and (gain)/loss on disposal of assets, net—
—
(17)
(17)(4)—(13)

(0.06)
Litigation (recoveries)/charges, net     —
—
(105)
(105)(27)—(78)

(0.32)
Non-GAAP$ 2,12210 %$ 1,3154 %$     80721 %$    741$     166$       (7)$     56811 %22.4 %$  2.3513 %
1 For more information on these measures, refer to the Use of Non-GAAP Measures and Definitions schedules.2 Distribution, selling, general and administrative expenses.  3 Attributable to Cardinal Health, Inc.4 For the three months ended March 31, 2026, impairments and (gain)/loss on disposals of assets, net includes pre-tax goodwill impairment charges of $184 million related to the Navista & ION reporting unit within the Pharma segment. For fiscal 2026, the estimated net tax benefit related to the impairments is $23 million and is included in the annual effective tax rate. The portion of the goodwill impairment charge attributable to noncontrolling interests is $23 million.The sum of the components and certain computations may reflect rounding adjustments.We generally apply varying tax rates depending on the item's nature and tax jurisdiction where it is incurred. Schedule 5
Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation1























Net













(Earnings)/
Loss






Gross


OperatingEarningsProvisionAttributable
Net

Diluted

Margin
SG&A2
EarningsBefore forto Non-
Earnings3Effective
EPS 3(in millions, except per common share amounts)GrossGrowth
GrowthOperatingGrowthIncomeIncomecontrollingNetGrowthTaxDilutedGrowthMarginRateSG&A2RateEarningsRateTaxesTaxesInterestsEarnings3RateRateEPS 3RateYear-to-Date 2026GAAP$ 7,21421 %$ 4,50716 %$   1,8842 %$  1,620$     315$       11$   1,316— %19.4 %$  5.542 %State opioid assessments related to prior fiscal years—
17
(17)
(17)(4)—(13)

(0.05)
Restructuring and employee severance—
—
66
6615—51

0.21
Amortization and other acquisition-related costs—
—
348
34892—256

1.08
Acquisition-related cash & share-based compensation costs—
—
243
2439—234

0.98
Impairments and (gain)/loss on disposal of assets, net 4—
—
173
17319(23)131

0.56
Litigation (recoveries)/charges, net—
—
(7)
(7)(16)—9

0.04
Non-GAAP$ 7,21421 %$ 4,52416 %$   2,69030 %$  2,426$     430$      (12)$   1,98433 %17.7 %$  8.3536 %















Year-to-Date 2025GAAP$ 5,9668 %$ 3,8985 %$   1,847N.M.$  1,717$     391$        (4)$   1,322N.M.22.8 %$  5.44N.M.Restructuring and employee severance—
—
61
6115—46

0.19
Amortization and other acquisition-related costs—
—
331
33181(2)248

1.02
Acquisition-related cash & share-based compensation costs—
—
20
201(4)15

0.06
Impairments and (gain)/loss on disposal of assets, net—
—
(15)
(15)(4)—(11)

(0.04)
Litigation (recoveries)/charges, net     —
—
(176)
(176)(51)—(125)

(0.51)
Non-GAAP$ 5,9668 %$ 3,8985 %$   2,06714 %$  1,937$     431$      (10)$   1,4956 %22.3 %$  6.168 %
1 For more information on these measures, refer to the Use of Non-GAAP Measures and Definitions schedules.2 Distribution, selling, general and administrative expenses.  3 Attributable to Cardinal Health, Inc. 4 For  the nine months ended March 31, 2026, impairments and (gain)/loss on disposals of assets, net includes pre-tax goodwill impairment charges of $184 million related to the Navista & ION reporting unit within the Pharma segment. For fiscal 2026, the estimated net tax benefit related to the impairments is $23 million and is included in the annual effective tax rate. The portion of the goodwill impairment charge attributable to noncontrolling interests is $23 million.The sum of the components and certain computations may reflect rounding adjustments.We generally apply varying tax rates depending on the item's nature and tax jurisdiction where it is incurred. Schedule 6
Cardinal Health, Inc. and Subsidiaries
GAAP / Non-GAAP Reconciliation - GAAP Cash Flow to Non-GAAP Adjusted Free Cash Flow








Third Quarter
Year-to-Date(in millions)2026
2025
2026
2025GAAP - Cash Flow Categories






Net cash provided by operating activities$        1,823
$        2,924
$        3,482
$            877Net cash used in investing activities(181)
(2,898)
(2,303)
(3,962)Net cash provided by/(used in) financing activities(483)
(514)
(1,112)
1,277Effect of exchange rates changes on cash and equivalents1
4
(4)
1Net increase/(decrease) in cash and equivalents$        1,160
$         (484)
$             63
$        (1,807)







Non-GAAP Adjusted Free Cash Flow






Net cash provided by operating activities$        1,823
$        2,924
$        3,482
$            877Repurchases of liability-classified Specialty Alliance Units5
—
27
—Additions to property and equipment(146)
(126)
(385)
(315)Payments related to matters included in litigation (recoveries)/charges, net     15
1
401
622Non-GAAP Adjusted Free Cash Flow$        1,697
$        2,799
$        3,525
$         1,184
For more information on these measures, refer to the Use of Non-GAAP Measures and Definitions schedules.  Schedule 7
Cardinal Health, Inc. and Subsidiaries Distribution, Selling, General and Administrative ("SG&A") Expenses, excluding Acquisitions
Third Quarter
Year-to-Date













Consolidated

Consolidated(in millions)2026
2025
% Change
(in millions)2026
2025
% ChangeSG&A expenses$    1,542
$    1,315
17 %
SG&A expenses$    4,507
$    3,898
16 %Less: Recent acquisitions1216
80
N.M.
Less: Recent acquisitions1569
97
N.M.SG&A expenses, excluding recent     
acquisitions$    1,326
$    1,235
7 %
SG&A expenses, excluding recent     
acquisitions$    3,938
$    3,801
4 %
1Recent acquisitions include Integrated Oncology Network (December 2024), GI Alliance (January 2025), Advanced Diabetes Supply Group (April 2025), Urology America (May 2025), and Solaris Health (November 2025). Cardinal Health, Inc. and SubsidiariesUse of Non-GAAP Measures
This earnings release contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP").In addition to analyzing our business based on financial information prepared in accordance with GAAP, we use these non-GAAP financial measures internally to evaluate our performance, engage in financial and operational planning, and determine incentive compensation because we believe that these measures provide additional perspective on and, in some circumstances are more closely correlated to, the performance of our underlying, ongoing business. We provide these non-GAAP financial measures to investors as supplemental metrics to assist readers in assessing the effects of items and events on our financial and operating results on a year-over-year basis and in comparing our performance to that of our competitors. However, the non-GAAP financial measures that we use may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. The non-GAAP financial measures disclosed by us should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements set forth below should be carefully evaluated. Exclusions from Non-GAAP Financial Measures
Management believes it is useful to exclude the following items from the non-GAAP measures presented in this report for its own and for investors' assessment of the business for the reasons identified below:LIFO charges and credits are excluded because the factors that drive last-in first-out ("LIFO") inventory charges or credits, such as pharmaceutical manufacturer price appreciation or deflation and year-end inventory levels (which can be meaningfully influenced by customer buying behavior immediately preceding our fiscal year-end), are largely out of our control and cannot be accurately predicted. The exclusion of LIFO charges and credits from non-GAAP metrics facilitates comparison of our current financial results to our historical financial results and to our peer group companies' financial results. We did not recognize any LIFO charges or credits during the periods presented.State opioid assessments related to prior fiscal years is the portion of state assessments for prescription opioid medications that were sold or distributed in periods prior to the period in which the expense is incurred. This portion is excluded from non-GAAP financial measures because it is retrospectively applied to sales in prior fiscal years and inclusion would obscure analysis of the current fiscal year results of our underlying, ongoing business. Additionally, while states' laws may require us to make payments on an ongoing basis, the portion of the assessment related to sales in prior periods are contemplated to be one-time, nonrecurring items. Income from state opioid assessments related to prior fiscal years represents reversals of accruals due to changes in estimates or when the underlying assessments were invalidated by a Court or reimbursed by manufacturers.Restructuring and employee severance costs are excluded because they are not part of the ongoing operations of our underlying business and include, but are not limited to, costs related to divestitures, closing and consolidating facilities, changing the way we manufacture or distribute our products, moving manufacturing of a product to another location, changes in production or business process outsourcing or insourcing, employee severance, and realigning operations.Amortization and other acquisition-related costs, which include transaction costs, integration costs, and changes in the fair value of contingent consideration obligations, are excluded because they are not part of the ongoing operations of our underlying business and to facilitate comparison of our current financial results to our historical financial results and to our peer group companies' financial results. Additionally, costs for amortization of acquisition-related intangible assets and amortization as a result of basis differences in equity method investments are non-cash amounts, which are variable in amount and frequency and are significantly impacted by the timing and size of acquisitions, so their exclusion facilitates comparison of historical, current, and forecasted financial results. We also exclude other acquisition-related costs, which are directly related to an acquisition but do not meet the criteria to be recognized on the acquired entity's initial balance sheet as part of the purchase price allocation. These costs are also significantly impacted by the timing, complexity, and size of acquisitions. Acquisition-related cash and share-based compensation costs are incurred in connection with contingent cash payments or the issuance of share-based payment awards, which include service requirements, as a part of certain physician practice acquisitions. These costs include fair value adjustments for liability-classified awards. These costs are excluded because they are unrelated to the underlying operating results of our business and to facilitate comparison of our current financial results to our historical financial results and to our peer group companies' financial results. In addition, the magnitude of these expenses is significantly impacted by the timing and size of the acquisitions of physician practices.Impairments and gain or loss on disposal of assets, net are excluded because they do not occur in or reflect the ordinary course of our ongoing business operations and are inherently unpredictable in timing and amount, and in the case of impairments, are non-cash amounts, so their exclusion facilitates comparison of historical, current, and forecasted financial results.Litigation recoveries or charges, net are excluded because they often relate to events that may have occurred in prior or multiple periods, do not occur in or reflect the ordinary course of our business and are inherently unpredictable in timing and amount.The tax effect for each of the items listed above is determined using the tax rate and other tax attributes applicable to the item and the jurisdiction(s) in which the item is recorded. The gross, tax and net impact of each item are presented with our GAAP to non-GAAP reconciliations.Non-GAAP adjusted free cash flow: We provide this non-GAAP financial measure as a supplemental metric to assist readers in assessing the effects of items and events on our cash flow on a year-over-year basis and in comparing our performance to that of our peer group companies. In calculating this non-GAAP metric, certain items are excluded from net cash provided by operating activities because they relate to significant and unusual or non-recurring events and are inherently unpredictable in timing and amount. We believe adjusted free cash flow is important to management and useful to investors as a supplemental measure as it indicates the cash flow available for working capital needs, debt repayments, dividend payments, share repurchases, strategic acquisitions, or other strategic uses of cash. A reconciliation of our GAAP financial results to Non-GAAP adjusted free cash flow is provided in Schedule 6 of the financial statement tables included with this release.Forward Looking Non-GAAP Measures
In this document, the Company presents certain forward-looking non-GAAP metrics. The Company does not provide outlook on a GAAP basis because the items that the Company excludes from GAAP to calculate the comparable non-GAAP measure can be dependent on future events that are less capable of being controlled or reliably predicted by management and are not part of the Company's routine operating activities. Additionally, management does not forecast many of the excluded items for internal use and therefore cannot create or rely on outlook done on a GAAP basis.The occurrence, timing and amount of any of the items excluded from GAAP to calculate non-GAAP could significantly impact the Company's fiscal 2026 GAAP results. Over the past five fiscal years, the excluded items have impacted the Company's EPS from $1.79 to $8.44, which includes a $6.97 charge related to the goodwill impairment charge for the GMPD segment in fiscal 2022.DefinitionsGrowth rate calculation: growth rates in this report are determined by dividing the difference between current-period results and prior-period results by prior-period results.Interest and Other, net: other (income)/expense, net plus interest expense, net.Segment Profit: segment revenue minus (segment cost of products sold and segment distribution, selling, general and administrative expenses).Segment Profit margin: segment profit divided by segment revenue. Non-GAAP gross margin: gross margin, excluding LIFO charges/(credits).Non-GAAP distribution, selling, general and administrative expenses or Non-GAAP SG&A: distribution, selling, general and administrative expenses, excluding state opioid assessment related to prior fiscal years and shareholder cooperation agreement costs.Non-GAAP operating earnings: operating earnings excluding (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net.  Non-GAAP earnings before income taxes: earnings before income taxes excluding (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net.Non-GAAP net earnings attributable to non-controlling interests: net earnings attributable to non-controlling interests excluding (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net, each net of tax.Non-GAAP net earnings attributable to Cardinal Health, Inc.: net earnings attributable to Cardinal Health, Inc. excluding (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net, each net of tax.Non-GAAP effective tax rate: provision for income taxes adjusted for the tax impacts of (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net, divided by (earnings before income taxes adjusted for the items above).Non-GAAP diluted earnings per share attributable to Cardinal Health, Inc.: non-GAAP net earnings attributable to Cardinal Health, Inc. divided by diluted weighted-average shares outstanding.Non-GAAP adjusted free cash flow: net cash provided by operating activities plus repurchases of liability-classified Specialty Alliance Units, less payments related to additions to property and equipment, excluding settlement payments and receipts related to matters included in litigation (recoveries)/charges, net, as defined above, or other significant and unusual or non-recurring cash payments or receipts. 





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Original: Cardinal Health Reports Third Quarter Fiscal Year 2026 Results and Raises Outlook

Cardinal Health report highlights growing momentum to expand advanced therapies into community care settingsApril 14, 2026 7:00 AM
PR Newswire (US)

Research confirms advanced therapies are moving beyond inpatient hospitals, with providers increasingly supporting partnerships that bring life-changing treatments closer to patients' homes.DUBLIN, Ohio, April 14, 2026 /PRNewswire/ -- Today, Cardinal Health (NYSE: CAH) released its 2026 Advanced Therapies Report: Perspectives on Community Expansion, offering new insights into how the expanding advanced therapy pipeline is reshaping sites of care. Advanced therapies are innovative gene-, cell- and tissue-based treatments that target the root cause of disease by repairing, replacing or regenerating damaged cells, offering long-term benefits for many conditions. As more therapies shift to outpatient and community-based settings, the report underscores strong provider momentum to improve access, flexibility and the overall patient experience.







The report draws on perspectives from more than 160 physicians and administrators across community practices and health systems, alongside expert commentary and a patient case study illustrating the real-world impact of outpatient advanced therapy administration.Key findings include:Strong provider support for expanding advanced therapy administration into outpatient and community-based settings.Broad agreement that partnerships between health systems and community practices are critical to ensuring safe, high-quality care.Significant operational, clinical and economic planning is required to establish advanced therapy programs, particularly in community settings.Growing opportunity to improve patient access and experience by delivering life-changing therapies closer to home."Advanced therapies are transforming care for patients with complex and serious diseases, often delivering outcomes that were not possible just a decade ago," said Fran Gregory, PharmD, MBA, vice president of Emerging Therapies at Cardinal Health. "As these therapies evolve, access must also expand. Our report encouragingly underscores the growing momentum to move treatment closer to patients' homes — while emphasizing the partnerships, infrastructure and planning required to do so safely and sustainably."There are currently 61 advanced therapies approved in the U.S., with that number expected to nearly triple by 2030, according to Cardinal Health's pipeline analysis. Oncology remains the dominant therapeutic area, though innovation is accelerating across additional disease states such as neurology, rheumatology, ophthalmology and cardiology, among others. Today, most oncology advanced therapies are still administered in inpatient academic or health system settings, but providers across the ecosystem are actively working to expand care to community-based sites of care to increase patient access.Our survey findings show broad alignment around the benefits of shifting advanced therapies into community settings and demonstrate the need for collaboration to make the shift possible.Nearly all health system respondents strongly agreed (54%) or agreed (43%) that partnerships between community practices and health systems are essential to ensure optimal outcomes.Nearly all health system respondents agreed (63%) or strongly agreed (33%) that moving advanced therapies into the community would increase health system capacity for emerging innovative treatments.Establishing advanced therapy programs requires deliberate planning, infrastructure investment and cross-organizational coordination. Nearly half of community respondents (48%) reported that preparing to administer advanced therapies took one to two years, reflecting the operational and clinical complexity involved. Health systems pointed to investments in technology to support care coordination, while community practices emphasized expanding specialized staff and building new workflows. Community providers also highlighted that partnership models offering after-hours triage support, clinical training and expedited referral pathways are critical enablers of safe, scalable advanced therapy delivery.To read the full 2026 Advanced Therapies Industry Report, visit cardinalhealth.com/cellandgene.About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals and specialty products; a global manufacturer and distributor of medical and laboratory products; a supplier of home-health and direct-to-patient products and services; an operator of nuclear pharmacies and manufacturing facilities; and a provider of performance and data solutions. Learn more at cardinalhealth.com and in our Newsroom.Contacts
Media: Casey Sudzina, Casey.Sudzina @JRH and
Investors: Matt Sims, Matt.Sims @jackhartmann  



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Original: Cardinal Health report highlights growing momentum to expand advanced therapies into community care settings

Cardinal Health expands Actinium-225 production capacity to support growing demand for novel cancer therapiesApril 1, 2026 7:00 AM
PR Newswire (US)

DUBLIN, Ohio, April 1, 2026 /PRNewswire/ -- Cardinal Health (NYSE:CAH) today announced a significant expansion of its Actinium-225 (Ac-225) production capabilities at the company's Center for Theranostics Advancement (CTA) in Indianapolis, Indiana. The addition of a high-capacity production line to its Drug Master File (DMF) will substantially increase Cardinal Health's supply of cGMP-compliant Ac-225 for use in investigational therapeutic drug products and future commercial manufacturing novel therapies.







Ac-225 is an alpha-emitting radionuclide that can be linked to molecules like those designed to selectively target cancer cells. New, cutting-edge Ac-225 drug products are being developed and are becoming an increasingly promising new class of therapies for cancers including prostate, neuroendocrine, breast, colon, melanoma, and lymphoma. Despite growing demand, worldwide clinical progress has been slowed by limited availability.Since announcing routine Ac-225 production globally at scale at the end of 2024, Cardinal Health has quadrupled its weekly output. The company expects to continue increasing production capacity in 2026, supporting the rapidly growing global demand for targeted alpha therapies."Expanding our Ac-225 production capacity is a critical step forward for the industry and for patients," said Shane Thrasher, Vice President of Radiopharmaceutical Manufacturing, Cardinal Health Nuclear & Precision Health Solutions. "As targeted alpha therapies progress through clinical trials, reliable access to Ac-225 remains essential. This expanded capacity strengthens our ability to meet customer needs today while preparing for significantly larger commercial volumes that may occur in the coming years."Cardinal Health's expanded production increases access to material for research and clinical development. To date, Cardinal Health's Ac-225 has supported more than 15 clinical trials worldwide, reflecting broad engagement with pharmaceutical innovators advancing targeted alpha therapies."The reliable availability of Ac-225 is essential for advancing targeted alpha therapies and enabling innovation in clinical research," said Eric Bischoff, Chief of Product Development and Operations at RayzeBio (a Bristol Myers Squibb Company). "Cardinal Health's commitment to expanding production capacity helps ensure a more robust supply chain, accelerating our ability to drive progress and deliver new treatment options to patients."Cardinal Health has supported regulatory applications for cGMP-compliant Ac-225 for customers across multiple regions worldwide.For more information, or to secure cGMP-compliant Ac-225 supply, please visit us here. About Cardinal Health
Cardinal?Health is a distributor of pharmaceuticals and specialty products; a global manufacturer and distributor of medical and laboratory products; a supplier of home-health and direct-to-patient products and services;?an operator of nuclear pharmacies and manufacturing facilities; and a provider of performance and data solutions. Our company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day. Learn more about Cardinal Health at?cardinalhealth.com?and in our?Newsroom. Contacts
Media: Reggie Dotson, Reggie.dotson @dmarie
Investors: Matt Sims, Matt.Sims @jackhartmann 



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Original: Cardinal Health expands Actinium-225 production capacity to support growing demand for novel cancer therapies

Cardinal Health to Announce Third-Quarter Results for Fiscal Year 2026 on April 30March 24, 2026 6:45 AM
PR Newswire (US)

DUBLIN, Ohio, March 24, 2026 /PRNewswire/ -- Cardinal Health (NYSE: CAH) plans to release third-quarter financial results for its fiscal year 2026 on April 30 as previously indicated, prior to the opening of trading on the New York Stock Exchange. The company will webcast a discussion of these results beginning at 8:30 a.m. Eastern.







To access the webcast and corresponding slide presentation, visit Cardinal Health's Investor Relations page. No access code is required. Presentation slides and a webcast replay will be available on the Investor Relations page for 12 months.About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals and specialty products; a supplier of home-health and direct-to-patient products and services; an operator of nuclear pharmacies and manufacturing facilities; a provider of performance and data solutions; and a global manufacturer and distributor of medical and laboratory products. Our company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day. Learn more about Cardinal Health at cardinalhealth.com and in our Newsroom.Media: Erich Timmerman
(614) 757-8231
Erich.Timmerman@cardinalhealth.com

Investors:Matt Sims
(614) 553-3661
Matt.Sims@cardinalhealth.com  



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Original: Cardinal Health to Announce Third-Quarter Results for Fiscal Year 2026 on April 30

Cardinal Health Appoints Patricia A. Hemingway Hall as Board ChairMarch 23, 2026 6:45 AM
PR Newswire (US)

DUBLIN, Ohio, March 23, 2026 /PRNewswire/ -- Cardinal Health (NYSE: CAH) today announced that its Board of Directors has appointed Patricia A. Hemingway Hall to succeed Gregory B. Kenny as Chair of the Board following Mr. Kenny's retirement, effective immediately.







Mr. Kenny has served on the Board since 2007 and as Chairman since 2018. During his tenure on the Board, Mr. Kenny supported the Company through periods of significant transformation, including strategic portfolio evolution and operational improvement initiatives."On behalf of the Board and our management team, we are deeply grateful to Greg for his leadership and lasting contributions to the Company," said Jason Hollar, Chief Executive Officer of Cardinal Health. "We look forward to Pat's continuation of Greg's legacy as a steady, principled leader as we execute our strategic priorities with a focus on strong governance and long-term value creation."Ms. Hemingway Hall has served on the Cardinal Health Board since 2013, including as Chair of the Governance and Sustainability Committee for nearly seven years. In addition to her strong institutional knowledge of the Company's business, governance framework and strategic priorities, Ms. Hemingway Hall brings deep healthcare leadership experience as the former President and Chief Executive Officer of Health Care Service Corporation, the nation's largest mutual health insurer.The Company will release third quarter fiscal 2026 earnings on April 30 and remains confident in its outlook for fiscal 2026.About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals and specialty products; a global manufacturer and distributor of medical and laboratory products; a supplier of home-health and direct-to-patient products and services; an operator of nuclear pharmacies and manufacturing facilities; and a provider of performance and data solutions. Our company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day. Learn more about Cardinal Health at cardinalhealth.com and in our Newsroom.Contacts
Media: Erich Timmerman, Erich.Timmerman@cardinalhealth.com and 614.757.8231
Investors: Matt Sims, Matt.Sims@cardinalhealth.com and 614.553.3661Cautions Concerning Forward-Looking Statements
This release contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook and various accruals and estimates. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties include our ability to navigate uncertainties arising from proposed or final regulatory changes, including those related to pharmaceutical pricing and tariffs; manage uncertainties associated with the pricing of branded pharmaceuticals,  the risk that we may fail to achieve our strategic objectives, including the continued execution of the GMPD Improvement Plan initiatives ; risks associated with recent acquisitions, including as a result of entry into new lines of businesses and risks associated with the integration of such businesses; competitive pressures in Cardinal Health's various lines of business, including the risk that customers may reduce purchases made under their contracts with us or terminate or not renew their contracts, whether due to price increases or otherwise; risks associated with litigation matters, including a Department of Justice investigations focused on potential violations of the Anti-Kickback Statute and False Claims Act; the risk that events outside of our control, such as weather or geopolitical events, may impact demand for our products or may cause supply shortages that impact our cost and ability to fulfill customer demand; and the performance of our generics program, including the amount or rate of generic deflation and our ability to offset generic deflation and maintain other financial and strategic benefits through our generic sourcing venture or other components of our generics programs. Cardinal Health is subject to additional risks and uncertainties described in Cardinal Health's Form 10-K, Form 10-Q and Form 8K reports and exhibits to those reports. This release reflects management's views as of March 23, 2026. Except to the extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward-looking statement. Forward-looking statements are aspirational and not guarantees or promises that goals, targets or projections will be met, and no assurance can be given that any commitment, expectation, initiative or plan in this report can or will be achieved or completed. Cardinal Health provides definitions and reconciliations of non-GAAP financial measures and their most directly comparable GAAP financial measures at ir.cardinalhealth.com.



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Original: Cardinal Health Appoints Patricia A. Hemingway Hall as Board Chair

Cardinal Health report highlights cost savings and provider confidence in biosimilarsFebruary 24, 2026 7:00 AM
PR Newswire (US)

New analysis shows biosimilars are projected to strengthen cost savings and provider confidence across the healthcare ecosystem, with oncology leading in adoption and accessibility gains.DUBLIN, Ohio, Feb. 24, 2026 /PRNewswire/ -- Cardinal Health (NYSE: CAH) today released its 2026 Biosimilars Report: Driving access and patient outcomes in physician practices, which highlights the substantial savings biosimilars have delivered to the U.S. healthcare system and the strong confidence providers have in these treatments.







"Since 2015, biosimilars have generated more than $56 billion in healthcare savings and have expanded access to high-quality therapies while generating significant value for the healthcare system," said Fran Gregory, PharmD, MBA, vice president of Emerging Therapies at Cardinal Health. "As physician practices continue to adopt these products, we remain focused on helping providers navigate reimbursement, streamline product launches and ensure patients have access to effective treatment options."The report draws from insights gathered from 101 physician practices nationwide. Nearly 99% of providers surveyed said they feel comfortable explaining biosimilars to patients, underscoring the strong clinical confidence supporting these therapies. Predictable reimbursement remains essential for sustained adoption: 68% of practices rated consistent reimbursement as "very important," while 59% favored set discount models over incremental price reductions that can disrupt reimbursement stability.The report also explores a major advancement in biosimilar's trajectory: the acceleration of oncology biosimilars, which now reach an average 81% market share within five years of launch. Over the next two years, we expect FDA approval of nearly 25 new biosimilars in therapeutic areas including immunology, oncology and retina.Key findings from the 2026 Biosimilars Report include:Strong provider confidence and continued willingness to adopt biosimilars in clinical practice.Oncology leads in biosimilar advancement, delivering rapid adoption and substantial cost savings, with additional cancer biosimilars expected to expand accessibility.Reimbursement stability as a defining factor in provider uptake and the potential of a "biosimilar void."The opportunity to generate up to $181 billion in future savings with the right market and policy conditions.Read the full 2026 Biosimilars Report.About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals and specialty products; a global manufacturer and distributor of medical and laboratory products; a supplier of home-health and direct-to-patient products and services; an operator of nuclear pharmacies and manufacturing facilities; and a provider of performance and data solutions. Learn more at cardinalhealth.com and in our Newsroom.Contacts
Media: Casey Sudzina, Casey.Sudzina @JRH and
Investors: Matt Sims, Matt.Sims @jackhartmann  



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Original: Cardinal Health report highlights cost savings and provider confidence in biosimilars

Cardinal Health Board of Directors Approves Quarterly DividendFebruary 12, 2026 4:45 PM
PR Newswire (US)

DUBLIN, Ohio, Feb. 12, 2026 /PRNewswire/ -- Cardinal Health (NYSE: CAH) announced today that its Board of Directors approved its quarterly dividend of $0.5107 per share, out of the Company's capital surplus. The dividend will be payable on April 15, 2026 to shareholders of record at the close of business on April 1, 2026.







About Cardinal Health
Cardinal?Health is a distributor of pharmaceuticals and specialty products; a global manufacturer and distributor of medical and laboratory products; a supplier of home-health and direct-to-patient products and services;?an operator of nuclear pharmacies and manufacturing facilities; and a provider of performance and data solutions. Our company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day. Learn more about Cardinal Health at?cardinalhealth.com?and in our?Newsroom. Contacts
Media: Erich Timmerman, erich.timmerman@cardinalhealth.com and 614.757.8231
Investors: Matt Sims, matt.sims@cardinalhealth.com and 614.553.3661



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Original: Cardinal Health Board of Directors Approves Quarterly Dividend

Cardinal Health Reports Second Quarter Fiscal Year 2026 Results and Raises OutlookFebruary 5, 2026 6:45 AM
PR Newswire (US)

Revenue increased 19% to $65.6 billionGAAP1 operating earnings increased 29% to $707 million; GAAP diluted EPS increased 19% to $1.97Non-GAAP operating earnings increased 38% to $877 million; non-GAAP diluted EPS increased 36% to $2.63Cardinal Health raises fiscal year 2026 non-GAAP EPS guidance2 to $10.15 to $10.35Cardinal Health completes annual baseline share repurchase of $750 millionCardinal Health reaches targeted leverage range3DUBLIN, Ohio, Feb. 5, 2026 /PRNewswire/ -- Cardinal Health (NYSE: CAH) today reported second quarter fiscal year 2026 revenues of $65.6 billion, an increase of 19% from the second quarter of fiscal year 2025. Second quarter GAAP operating earnings increased 29% to $707 million and GAAP diluted earnings per share (EPS) increased 19% to $1.97. Second quarter non-GAAP operating earnings increased 38% to $877 million. Non-GAAP diluted EPS increased 36% to $2.63, reflecting the increase in non-GAAP operating earnings and a lower share count, partially offset by an increase in interest and other expense due to financing costs related to previously announced acquisitions.







"Our strong second-quarter performance reflects at least double-digit segment profit growth across all five of our operating segments," said Jason Hollar, CEO of Cardinal Health. "Our ongoing momentum and the team's consistent execution against our strategic priorities gives us confidence to raise our fiscal 2026 outlook."Q2 FY26 summary
Q2 FY26
Q2 FY25
Y/YRevenue$65.6 billion
$55.3 billion
19 %Operating earnings$707 million
$549 million
29 %Non-GAAP operating earnings$877 million
$635 million
38 %Net earnings attributable to Cardinal Health, Inc.$467 million
$400 million
17 %Non-GAAP net earnings attributable to Cardinal Health, Inc.$624 million
$468 million
33 %Effective Tax Rate 25.2 %
21.4 %

Non-GAAP Effective Tax Rate21.4 %
21.4 %

Diluted EPS attributable to Cardinal Health, Inc.$1.97
$1.65
19 %Non-GAAP diluted EPS attributable to Cardinal Health, Inc.$2.63
$1.93
36 %Segment resultsPharmaceutical and Specialty Solutions segment
Q2 FY26
Q2 FY25
Y/YRevenue$              60.7  billion
$             50.8 billion
19 %Segment profit$               687 million
$              531 million
29 %Second quarter revenue for the Pharmaceutical and Specialty Solutions segment increased 19% to $60.7 billion, driven by brand and specialty pharmaceutical sales growth from existing and new customers.Pharmaceutical and Specialty Solutions segment profit increased 29% to $687 million in the second quarter, driven by contributions from brand and specialty products, the acquisition of MSO platforms and positive generics program performance.Global Medical Products and Distribution segment
Q2 FY26
Q2 FY25
Y/YRevenue$               3.3  billion
$                3.2  billion
3 %Segment profit$               37 million
$                 18 million
106 %Second quarter revenue for the Global Medical Products and Distribution segment increased 3% to $3.3 billion, driven by volume growth from existing customers.Global Medical Products and Distribution segment profit increased 106% to $37 million in the second quarter, driven by growth from existing customers and the beneficial net impact of cost optimization initiatives, partially offset by an adverse net impact of tariffs.Other4
Q2 FY26
Q2 FY25
Y/YRevenue$               1.7  billion
$                1.3  billion
34 %Segment profit$              179 million
$               118 million
52 %Second quarter revenue for Other increased 34% to $1.7 billion, driven by growth across the three operating segments: at-Home Solutions (including the acquisition of Advanced Diabetes Supply), Nuclear and Precision Health Solutions and OptiFreight Logistics.Other segment profit increased 52% to $179 million in the second quarter, driven by growth across the three operating segments: at-Home Solutions (including the acquisition of Advanced Diabetes Supply), OptiFreight Logistics and Nuclear and Precision Health Solutions.Fiscal year 2026 outlook2Cardinal Health is raising its fiscal year 2026 guidance for non-GAAP diluted EPS attributable to Cardinal Health, Inc. to a range of $10.15 to $10.35 (+23% to +26% growth). This updated guidance reflects:Pharmaceutical and Specialty Solutions segment profit growth raised and narrowed to 20% to 22%, from the prior range of 16% to 19%Global Medical Products and Distribution segment profit raised to approximately $150 million, from the prior guidance of at least $140 millionOther segment profit growth raised to 33% to 35%, from the prior range of 29% to 31%Non-GAAP effective tax rate decreased to a range of 21% to 23%, from the prior range of 22% to 24%Diluted weighted average shares outstanding decreased to a range of 237 million to 238 million, from the prior outlook of ~238 millionRecent highlightsCardinal Health completed an additional $375 million accelerated share repurchase program in the second quarter, bringing year-to-date share repurchases in fiscal year 2026 to $750 million.Cardinal Health's The Specialty Alliance leading multi-specialty MSO platform completed the acquisition of Solaris Health, the country's leading Urology MSO with over 750 providers, on November 3rd.Cardinal Health's direct-to-patient at-Home Solutions business recently introduced the ContinuCare™ Pathway program, which leverages the full Cardinal Health portfolio to simplify diabetes supply management for partner pharmacies and patients, and announced a key partnership with Publix Super Markets Inc.Reinforcing its commitment to a world-class culture, Cardinal Health earned Great Place to Work Certification in six countries, including the U.S.Webcast
Cardinal Health will host a webcast today at 8:30 a.m. ET to discuss second quarter results. To access the webcast and corresponding slide presentation, go to the Investor Relations page at ir.cardinalhealth.com. No access code is required.Presentation slides and a webcast replay will be available on the Investor Relations page for 12 months.About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals and specialty products; a global manufacturer and distributor of medical and laboratory products; a supplier of home-health and direct-to-patient products and services; an operator of nuclear pharmacies and manufacturing facilities; and a provider of performance and data solutions. Our company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day. Learn more about Cardinal Health at cardinalhealth.com and in our Newsroom.Contacts
Media: Erich Timmerman, Erich.Timmerman@cardinalhealth.com and 614.757.8231
Investors: Matt Sims, Matt.Sims@cardinalhealth.com and 614.553.36611GAAP refers to U.S. generally accepted accounting principles. This news release includes GAAP financial measures as well as non-GAAP financial measures, which are financial measures not calculated in accordance with GAAP. See "Use of Non-GAAP Measures" following the attached schedules for definitions of the non-GAAP financial measures presented in this news release and see the attached schedules for reconciliations of the differences between the non-GAAP financial measures and their most directly comparable GAAP financial measures.
2The company does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. See "Use of Non-GAAP Measures" following the attached schedules for additional explanation.
3The company maintains a targeted leverage range of 2.75x to 3.25x Adjusted Debt to EBITDA as defined by Moody's Ratings. The company achieved 3.2x leverage as of December 31, 2025 per internal estimates.
4Other includes the following three operating segments: Nuclear and Precision Health Solutions (NPHS), at-Home Solutions and OptiFreight Logistics, which are not significant enough individually to require reportable segment disclosure.Cardinal Health uses its website as a channel of distribution for material company information. Important information, including news releases, financial information, earnings and analyst presentations, and information about upcoming presentations and events is routinely posted and accessible on the Investor Relations page at ir.cardinalhealth.com. In addition, the website allows investors and other interested persons to sign up automatically to receive email alerts when the company posts news releases, SEC filings and certain other information on its website.Cautions Concerning Forward-Looking Statements
This release contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook and various accruals and estimates. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties include our ability to  manage uncertainties associated with the pricing of branded pharmaceuticals and to navigate uncertainties arising from proposed or final regulatory changes, including those related to pharmaceutical pricing and tariffs the risk that we may fail to achieve our strategic objectives, including the ongoing integration of recent acquisitions and the continued execution of the GMPD Improvement Plan initiatives; competitive pressures in Cardinal Health's various lines of business, including the risk that customers may reduce purchases made under their contracts with us or terminate or not renew their contracts, whether due to price increases or otherwise; risks associated with litigation matters, including Department of Justice investigations focused on potential violations of the Anti-Kickback Statute and False Claims Act; the risk that events outside of our control, such as weather or geopolitical events, may impact demand for our products or may cause supply delays or shortages that impact our cost and ability to fulfill customer demand; and the performance of our generics program, including the amount or rate of generic deflation and our ability to offset generic deflation and maintain other financial and strategic benefits through our generic sourcing venture or other components of our generics programs. Cardinal Health is subject to additional risks and uncertainties described in Cardinal Health's Form 10-K, Form 10-Q and Form 8K reports and exhibits to those reports. This release reflects management's views as of February 5, 2026. Except to the extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward-looking statement. Forward-looking statements are aspirational and not guarantees or promises that goals, targets or projections will be met, and no assurance can be given that any commitment, expectation, initiative or plan in this report can or will be achieved or completed. Cardinal Health provides definitions and reconciliations of non-GAAP financial measures and their most directly comparable GAAP financial measures at ir.cardinalhealth.com Schedule 1
Cardinal Health, Inc. and Subsidiaries Condensed Consolidated Statements of Earnings (Unaudited)

Second  Quarter
Year-to-Date(in millions, except per common share amounts)2026
2025
% Change
2026
2025
% ChangeRevenue$        65,627
$        55,264
19 %
$       129,636
$       107,541
21 %Cost of products sold63,230
53,323
19 %
124,920
103,698
20 %Gross margin2,397
1,941
23 %
4,716
3,843
23 %











Operating expenses:










Distribution, selling, general and administrative expenses1,504
1,306
15 %
2,965
2,583
15 %Restructuring and employee severance21
9


41
33

Amortization and other acquisition-related costs130
105


234
179

Acquisition-related cash and share-based compensation costs67
—


131
—

Impairments and (gain)/loss on disposal of assets, net(14)
3


(12)
2

Litigation (recoveries)/charges, net (18)
(31)


(18)
(71)

Operating earnings707
549
29 %
1,375
1,117
23 %











Other (income)/expense, net(11)
3


(21)
(2)

Interest expense, net88
35
N.M.
168
67
N.M.Earnings before income taxes630
511
23 %
1,228
1,052
17 %











Provision for income taxes159
110
45 %
303
234
29 %Net earnings471
401
17 %
925
818
13 %











Less: Net earnings attributable to noncontrolling interests(4)
(1)


(8)
(2)

Net earnings attributable to Cardinal Health, Inc. $            467
$            400
17 %
$            917
$            816
12 %











Earnings per common share attributable to Cardinal Health, Inc.:










Basic$           1.98
$           1.65
20 %
$           3.87
$           3.37
15 %Diluted1.97
1.65
19 %
3.85
3.35
15 %











Weighted-average number of common shares outstanding:










Basic236
242


237
242

Diluted237
243


238
243

 Schedule 2
Cardinal Health, Inc. and SubsidiariesCondensed Consolidated Balance Sheets
(in millions)December 31,
2025
June 30, 2025Assets(Unaudited)

Current assets:


Cash and equivalents$               2,777
$               3,874Trade receivables, net13,662
13,242Inventories, net20,116
16,831Prepaid expenses and other2,675
2,414Assets held for sale—
12Total current assets39,230
36,373



Property and equipment, net2,877
2,858Goodwill and other intangibles, net13,978
12,177Other assets1,998
1,714Total assets$              58,083
$              53,122



Liabilities and Shareholders' Deficit


Current liabilities:


Accounts payable$              38,996
$              34,713Current portion of long-term obligations and other short-term borrowings680
550Other accrued liabilities3,638
3,634Total current liabilities43,314
38,897



Long-term obligations, less current portion8,347
7,977Deferred income taxes and other liabilities9,122
8,882



Total shareholders' deficit(2,700)
(2,634)Total liabilities and shareholders' deficit$              58,083
$              53,122 Schedule 3
Cardinal Health, Inc. and SubsidiariesConsolidated Statements of Cash Flows (Unaudited)

Second  Quarter
Year-to-Date(in millions)2026
2025
2026
2025Cash flows from operating activities:






Net earnings$                471
$                401
$                925
$                818







Adjustments to reconcile net earnings to net cash provided by/(used in) operating activities:






Depreciation and amortization234
192
467
374Impairments and loss on sale of other investments—
1
5
2Impairments and (gain)/loss on disposal of assets, net(14)
3
(12)
2Share-based compensation87
30
180
60Provision for bad debts14
12
27
28Change in operating assets and liabilities, net of effects from acquisitions and divestitures:






  (Increase)/decrease in trade receivables341
(541)
(198)
(253)  Increase in inventories(2,543)
(1,289)
(3,279)
(1,967)  Increase/(decrease) in accounts payable2,029
924
4,176
(470)  Repurchases of liability-classified Specialty Alliance Units(6)
—
(22)
—  Other accrued liabilities and operating items, net73
(129)
(610)
(637)Net cash provided by/(used in) operating activities686
(396)
1,659
(2,043)







Cash flows from investing activities:






Acquisition of subsidiaries, net of cash acquired(1,884)
(1,076)
(1,925)
(1,076)Additions to property and equipment(131)
(99)
(239)
(189)Proceeds from the disposal of property and equipment31
—
31
—Proceeds from short-term investment in time deposit—
200
—
200Other investing items, net4
(1)
11
1Net cash used in investing activities(1,980)
(976)
(2,122)
(1,064)







Cash flows from financing activities:






Proceeds from long-term obligations, net of issuance costs—
2,869
989
2,869Reduction of long-term obligations(12)
(414)
(524)
(423)Payments of noncontrolling interests, net(1)
(4)
(4)
(4)Net tax proceeds/(withholding) from share-based compensation(1)
13
(81)
(15)Dividends on common shares(122)
(122)
(251)
(250)Purchase of treasury shares, net(383)
(15)
(758)
(390)Net cash provided by/(used in) financing activities(519)
2,327
(629)
1,787







Effect of exchange rate changes on cash and equivalents(3)
(12)
(5)
(3)







Net increase/(decrease) in cash and equivalents(1,816)
943
(1,097)
(1,323)Cash and equivalents at beginning of period4,593
2,867
3,874
5,133Cash and equivalents at end of period$           2,777
$           3,810
$           2,777
$           3,810 Schedule 4
Cardinal Health, Inc. and SubsidiariesSegment Information

Second Quarter












Pharmaceutical and Specialty Solutions
Global Medical Products and Distribution
Other(in millions)2026
2025
2026
2025
2026
2025Revenue










Amount$             60,669
$             50,849
$               3,259
$               3,154
$               1,724
$               1,283Growth rate19 %
(4) %
3 %
1 %
34 %
13 %











Segment profit










Amount$                  687
$                  531
$                    37
$                    18
$                  179
$                  118Growth rate29 %
7 %
106 %
N.M.
52 %
11 %Segment profit margin1.13 %
1.04 %
1.14 %
0.57 %
10.38 %
9.20 %

Year-to-Date












Pharmaceutical and Specialty Solutions
Global Medical Products and Distribution
Other(in millions)2026
2025
2026
2025
2026
2025Revenue










Amount$           119,874
$             98,839
$               6,443
$               6,277
$               3,365
$               2,469Growth rate21 %
(5) %
3 %
2 %
36 %
13 %











Segment profit










Amount$                1,354
$               1,061
$                    83
$                    26
$                  345
$                  222Growth rate28 %
12 %
N.M.
13 %
55 %
10 %Segment profit margin1.13 %
1.07 %
1.29 %
0.41 %
10.25 %
8.99 %
The sum of the components and certain computations may reflect rounding adjustments. Schedule 5
Cardinal Health, Inc. and SubsidiariesGAAP / Non-GAAP Reconciliation1









Net













Earnings






Gross


OperatingEarningsProvisionAttributable
Net

Diluted

Margin
SG&A2
EarningsBeforeforto Non-
Earnings3Effective
EPS 3(in millions, except per common share amounts)GrossGrowth
GrowthOperatingGrowthIncomeIncomecontrollingNetGrowthTaxDilutedGrowthMarginRateSG&A2RateEarningsRateTaxesTaxesInterestsEarnings3RateRateEPS 3RateSecond Quarter 2026GAAP$  2,39723 %$ 1,50415 %$       70729 %$      630$       159$            (4)$       46717 %25.2 %$   1.9719 %State opioid assessments related to prior fiscal years—
17
(17)
(17)(4)
(13)

(0.05)
Restructuring and employee severance—
—
21
215
16

0.07
Amortization and other acquisition-related costs—
—
130
13020
110

0.46
Acquisition-related cash & share-based compensation costs—
—
67
674
63

0.27
Impairments and (gain)/loss on disposal of assets, net—
—
(14)
(14)(3)
(11)

(0.06)
Litigation (recoveries)/charges, net—
—
(18)
(18)(8)
(10)

(0.04)
Non-GAAP$  2,39824 %$ 1,52016 %$       87738 %$      799$       171$            (4)$       62433 %21.4 %$   2.6336 %

Second Quarter 2025GAAP$  1,9415 %$ 1,3063 %$       5499 %$      511$       110$            (1)$       4009 %21.4 %$   1.6510 %Restructuring and employee severance—
—
9
92
7

0.03
Amortization and other acquisition-related costs—
—
105
10527
78

0.32
Impairments and (gain)/loss on disposal of assets, net—
—
3
31
2

0.01
Litigation (recoveries)/charges, net—
—
(31)
(31)(12)
(19)

(0.08)
Non-GAAP$  1,9415 %$ 1,3063 %$       6359 %$      597$       127$            (1)$       4681 %21.4 %$   1.932 %
1 For more information on these measures, refer to the Use of Non-GAAP Measures and Definitions schedules. 2 Distribution, selling, general and administrative expenses.  3 Attributable to Cardinal Health, Inc. The sum of the components and certain computations may reflect rounding adjustments. We generally apply varying tax rates depending on the item's nature and tax jurisdiction where it is incurred.  Schedule 5
Cardinal Health, Inc. and SubsidiariesGAAP / Non-GAAP Reconciliation1









Net













Earnings






Gross


OperatingEarningsProvisionAttributable
Net

Diluted

Margin
SG&A2
EarningsBefore forto Non-
Earnings3Effective
EPS 3(in millions, except per common share amounts)GrossGrowth
GrowthOperatingGrowthIncomeIncomecontrollingNetGrowthTaxDilutedGrowthMarginRateSG&A2RateEarningsRateTaxesTaxesInterestsEarnings3RateRateEPS 3RateYear-to-Date 2026GAAP$ 4,71623 %$ 2,96515 %$     1,37523 %$    1,228$       303$            (8)$       91712 %24.7 %$   3.8515 %State opioid assessments related to prior fiscal years—
17
(17)
(17)(4)
(13)

(0.05)
Restructuring and employee severance—
—
41
419
32

0.13
Amortization and other acquisition-related costs—
—
234
23449
185

0.78
Acquisition-related cash & share-based compensation costs—
—
131
1315
126

0.53
Impairments and (gain)/loss on disposal of assets, net—
—
(12)
(12)(3)
(9)

(0.03)
Litigation (recoveries)/charges, net—
—
(18)
(18)(14)
(4)

(0.02)
Non-GAAP$ 4,71623 %$ 2,98215 %$     1,73438 %$    1,587$       344$            (8)$     1,23533 %21.7 %$   5.1836 %















Year-to-Date 2025GAAP$ 3,8437 %$ 2,5835 %$     1,117N.M.$    1,052$       234$            (2)$       816N.M.22.2 %$   3.35N.M.Restructuring and employee severance—
—
33
338
25

0.10
Amortization and other acquisition-related costs—
—
179
17947
132

0.54
Impairments and (gain)/loss on disposal of assets, net—
—
2
2—
2

0.01
Litigation (recoveries)/charges, net—
—
(71)
(71)(24)
(47)

(0.19)
Non-GAAP$ 3,8437 %$ 2,5835 %$     1,26010 %$    1,195$       266$            (2)$       9274 %22.2 %$   3.816 %
1 For more information on these measures, refer to the Use of Non-GAAP Measures and Definitions schedules. 2 Distribution, selling, general and administrative expenses.  3 Attributable to Cardinal Health, Inc. The sum of the components and certain computations may reflect rounding adjustments. We generally apply varying tax rates depending on the item's nature and tax jurisdiction where it is incurred.  Schedule 6
Cardinal Health, Inc. and SubsidiariesGAAP / Non-GAAP Reconciliation - GAAP Cash Flow to Non-GAAP Adjusted Free Cash Flow








Second Quarter
Year-to-Date(in millions)2026
2025
2026
2025GAAP - Cash Flow Categories






Net cash provided by/(used in) operating activities$               686
$              (396)
$             1,659
$            (2,043)Net cash used in investing activities(1,980)
(976)
(2,122)
(1,064)Net cash provided by/(used in) financing activities(519)
2,327
(629)
1,787Effect of exchange rates changes on cash and equivalents(3)
(12)
(5)
(3)Net increase/(decrease) in cash and equivalents$           (1,816)
$               943
$            (1,097)
$            (1,323)







Non-GAAP Adjusted Free Cash Flow






Net cash provided by/(used in) operating activities$               686
$              (396)
$             1,659
$            (2,043)Repurchases of liability-classified Specialty Alliance Units6
—
22
—Additions to property and equipment(131)
(99)
(239)
(189)Payments related to matters included in litigation (recoveries)/charges, net(18)
245
386
621Non-GAAP Adjusted Free Cash Flow$               543
$              (250)
$             1,828
$            (1,611)
For more information on these measures, refer to the Use of Non-GAAP Measures and Definitions schedules. Cardinal Health, Inc. and SubsidiariesUse of Non-GAAP Measures
This earnings release contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP").In addition to analyzing our business based on financial information prepared in accordance with GAAP, we use these non-GAAP financial measures internally to evaluate our performance, engage in financial and operational planning, and determine incentive compensation because we believe that these measures provide additional perspective on and, in some circumstances are more closely correlated to, the performance of our underlying, ongoing business. We provide these non-GAAP financial measures to investors as supplemental metrics to assist readers in assessing the effects of items and events on our financial and operating results on a year-over-year basis and in comparing our performance to that of our competitors. However, the non-GAAP financial measures that we use may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. The non-GAAP financial measures disclosed by us should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements set forth below should be carefully evaluated. Exclusions from Non-GAAP Financial Measures
Management believes it is useful to exclude the following items from the non-GAAP measures presented in this report for its own and for investors' assessment of the business for the reasons identified below:LIFO charges and credits are excluded because the factors that drive last-in first-out ("LIFO") inventory charges or credits, such as pharmaceutical manufacturer price appreciation or deflation and year-end inventory levels (which can be meaningfully influenced by customer buying behavior immediately preceding our fiscal year-end), are largely out of our control and cannot be accurately predicted. The exclusion of LIFO charges and credits from non-GAAP metrics facilitates comparison of our current financial results to our historical financial results and to our peer group companies' financial results. We did not recognize any LIFO charges or credits during the periods presented.State opioid assessments related to prior fiscal years is the portion of state assessments for prescription opioid medications that were sold or distributed in periods prior to the period in which the expense is incurred. This portion is excluded from non-GAAP financial measures because it is retrospectively applied to sales in prior fiscal years and inclusion would obscure analysis of the current fiscal year results of our underlying, ongoing business. Additionally, while states' laws may require us to make payments on an ongoing basis, the portion of the assessment related to sales in prior periods are contemplated to be one-time, nonrecurring items. Income from state opioid assessments related to prior fiscal years represents reversals of accruals due to changes in estimates or when the underlying assessments were invalidated by a Court or reimbursed by manufacturers.Restructuring and employee severance costs are excluded because they are not part of the ongoing operations of our underlying business and include, but are not limited to, costs related to divestitures, closing and consolidating facilities, changing the way we manufacture or distribute our products, moving manufacturing of a product to another location, changes in production or business process outsourcing or insourcing, employee severance, and realigning operations.Amortization and other acquisition-related costs, which include transaction costs, integration costs, and changes in the fair value of contingent consideration obligations, are excluded because they are not part of the ongoing operations of our underlying business and to facilitate comparison of our current financial results to our historical financial results and to our peer group companies' financial results. Additionally, costs for amortization of acquisition-related intangible assets and amortization as a result of basis differences in equity method investments are non-cash amounts, which are variable in amount and frequency and are significantly impacted by the timing and size of acquisitions, so their exclusion facilitates comparison of historical, current, and forecasted financial results. We also exclude other acquisition-related costs, which are directly related to an acquisition but do not meet the criteria to be recognized on the acquired entity's initial balance sheet as part of the purchase price allocation. These costs are also significantly impacted by the timing, complexity, and size of acquisitions. Acquisition-related cash and share-based compensation costs are incurred in connection with contingent cash payments or the issuance of share-based payment awards, which include service requirements, as a part of certain physician practice acquisitions. These costs include fair value adjustments for liability-classified awards. These costs are excluded because they are unrelated to the underlying operating results of our business and to facilitate comparison of our current financial results to our historical financial results and to our peer group companies' financial results. In addition, the magnitude of these expenses is significantly impacted by the timing and size of the acquisitions of physician practices.Impairments and gain or loss on disposal of assets, net are excluded because they do not occur in or reflect the ordinary course of our ongoing business operations and are inherently unpredictable in timing and amount, and in the case of impairments, are non-cash amounts, so their exclusion facilitates comparison of historical, current, and forecasted financial results.Litigation recoveries or charges, net are excluded because they often relate to events that may have occurred in prior or multiple periods, do not occur in or reflect the ordinary course of our business and are inherently unpredictable in timing and amount.The tax effect for each of the items listed above is determined using the tax rate and other tax attributes applicable to the item and the jurisdiction(s) in which the item is recorded. The gross, tax and net impact of each item are presented with our GAAP to non-GAAP reconciliations. Non-GAAP adjusted free cash flow: We provide this non-GAAP financial measure as a supplemental metric to assist readers in assessing the effects of items and events on our cash flow on a year-over-year basis and in comparing our performance to that of our peer group companies. In calculating this non-GAAP metric, certain items are excluded from net cash provided by operating activities because they relate to significant and unusual or non-recurring events and are inherently unpredictable in timing and amount. We believe adjusted free cash flow is important to management and useful to investors as a supplemental measure as it indicates the cash flow available for working capital needs, debt repayments, dividend payments, share repurchases, strategic acquisitions, or other strategic uses of cash. A reconciliation of our GAAP financial results to Non-GAAP adjusted free cash flow is provided in Schedule 6 of the financial statement tables included with this release.Forward Looking Non-GAAP Measures
In this document, the Company presents certain forward-looking non-GAAP metrics. The Company does not provide outlook on a GAAP basis because the items that the Company excludes from GAAP to calculate the comparable non-GAAP measure can be dependent on future events that are less capable of being controlled or reliably predicted by management and are not part of the Company's routine operating activities. Additionally, management does not forecast many of the excluded items for internal use and therefore cannot create or rely on outlook done on a GAAP basis.The occurrence, timing and amount of any of the items excluded from GAAP to calculate non-GAAP could significantly impact the Company's fiscal 2026 GAAP results. Over the past five fiscal years, the excluded items have impacted the Company's EPS from $1.79 to $8.44, which includes a $6.97 charge related to the goodwill impairment charge for the GMPD segment in fiscal 2022.DefinitionsGrowth rate calculation: growth rates in this report are determined by dividing the difference between current-period results and prior-period results by prior-period results.Interest and Other, net: other (income)/expense, net plus interest expense, net.Segment Profit: segment revenue minus (segment cost of products sold and segment distribution, selling, general and administrative expenses).Segment Profit margin: segment profit divided by segment revenue. Non-GAAP gross margin: gross margin, excluding LIFO charges/(credits).Non-GAAP distribution, selling, general and administrative expenses or Non-GAAP SG&A: distribution, selling, general and administrative expenses, excluding state opioid assessment related to prior fiscal years and shareholder cooperation agreement costs.Non-GAAP operating earnings: operating earnings excluding (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net.  Non-GAAP earnings before income taxes: earnings before income taxes excluding (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net.Non-GAAP net earnings attributable to non-controlling interests: net earnings attributable to non-controlling interests excluding (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net, each net of tax.Non-GAAP net earnings attributable to Cardinal Health, Inc.: net earnings attributable to Cardinal Health, Inc. excluding (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net, each net of tax.Non-GAAP effective tax rate: provision for income taxes adjusted for the tax impacts of (1) LIFO charges/(credits), (2) state opioid assessment related to prior fiscal years, (3) restructuring and employee severance, (4) amortization and other acquisition-related costs, (5) acquisition-related cash and share-based compensation costs, (6) impairments and (gain)/loss on disposal of assets, net, and (7) litigation (recoveries)/charges, net, divided by (earnings before income taxes adjusted for the items above).Non-GAAP diluted earnings per share attributable to Cardinal Health, Inc.: non-GAAP net earnings attributable to Cardinal Health, Inc. divided by diluted weighted-average shares outstanding. Non-GAAP adjusted free cash flow: net cash provided by operating activities plus repurchases of liability-classified Specialty Alliance Units, less payments related to additions to property and equipment, excluding settlement payments and receipts related to matters included in litigation (recoveries)/charges, net, as defined above, or other significant and unusual or non-recurring cash payments or receipts.



View original content to download multimedia:https://www.prnewswire.com/news-releases/cardinal-health-reports-second-quarter-fiscal-year-2026-results-and-raises-outlook-302680102.htmlSOURCE Cardinal Health, Inc.

Original: Cardinal Health Reports Second Quarter Fiscal Year 2026 Results and Raises Outlook

CAH, off the 52 week high

CAH, new 52 week high

CAH new 52 week high

CAH new 52 week high

$CAH great article Cardinal Health Inc Nyse Cah Short Squeeze

News: $CAH Cardinal Health Annouces New Chinese Name 'Jia De Nuo'

BEIJING , March 30, 2019 /PRNewswire/ -- Cardinal Health (NYSE: CAH) today unveiled its new Chinese name – Jia De Nuo at gathering of China's leading cardiologists in Beijing . In Chinese, "Jia" means auspicious and happy, "De" represents ethics, and "Nuo" is promise, which ...

Got this from https://marketwirenews.com/news-releases/cardinal-health-annouces-new-chinese-name-jia-de-nuo--7916782.html

CAH,SEC suspects (BOD) insider Trading before Corp down sizing & Layoffs

Cardinal Health Inc $CAH Key Level For Traders Revealed

Shares of Cardinal Health Inc (CAH) are being crushed today after the company reported poor earnings and guidance. Down almost 20%, investors are fleeing the name in panic. Whenever panic hits a stock, smart traders always head to the charts to find the key buy level. In the case of Cardinal Health, there is a major multi-factor PPT buy level at $46.90. Once there, investors should expect a strong bounce higher back over $50.00.





Gareth Soloway
InTheMoneyStocks

Cardinal Health Inc $CAH Needs A Doctor, Watch This Level

Today, leading healthcare services and products company, Cardinal Health Inc (NYSE:CAH), is coming under heavy selling pressure after reporting earnings. The stock is trading lower by more than 18.0 percent to $52.73 a share. Traders and investors should note that the stock peaked out in late January when it traded as high as $75.75 a share. Since that pivot high, the stock has been steadily declining making lower highs on the charts. The next major support level for CAH stock will be around the $47.40 level. This is where the stock broke out in July 2013. Often, when a stock declines this sharply it will retest its former breakout level before really stabilizing and moving higher.



Nicholas Ssantiago
InTheMonYStocks

Cardinal Health Inc $CAH Buy Level Approaches

Cardinal Health Inc (CAH) continues to drop as the stock market drags lower. However, based on trend line analysis, a major support for a swing trade is approaching. Remember, swing trades are short-term trades, hold times can be days to weeks. The Cardinal Health by level is at $64.00. I expect a bounce back to $70.00 off that level. Be ready.




Gareth Soloway
InTheMoneyStocks

Dividend Discount Model implies Cardinal Health $CAH is 10% undervalued w/ earnings expected Tuesday:

DDM Analysis

Cardinal Health partner RXSF @ .0053 looking to Uplist to NASDAQ could be worth an investment there.

William Blair Maintains Outperform On Cardinal Health Following Fiscal Fourth Quarter Results http://www.smarteranalyst.com/2014/08/05/william-blair-maintains-outperform-on-cardinal-health-following-fiscal-fourth-quarter-results/

Comments during Goldman-Sachs conference

CAH at 34th-Annual-Global-Healthcare-Conference

http://www.earningsimpact.com/Transcript/82045/CAH/Cardinal-Health%2c-Inc----Goldman-Sachs-34th-Annual-Global-Healthcare-Conference

CAH feature article in today’s Barron’s: #msg-76686103.

~ $CAH ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $CAH ~ Earnings expected on Thursday *
This Week In Earnings: Earnings are coming or are already posted! This is what the charts look like! If you play the earnings these posts can be very helpful to you!
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=CAH&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=CAH&p=W&b=3&g=0&id=p54550695994



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~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=CAH
Finviz: http://finviz.com/quote.ashx?t=CAH
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~ MarketWatch: http://www.marketwatch.com/investing/stock/CAH/profile
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~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=CAH
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=CAH&size=l&frequency=10&color=g
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~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=CAH&size=l&frequency=60&color=g


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*If the earnings date is in error please ignore error. I do my best.

saveapenny, take a look at my last posting on this board. Maybe you might be interested in a Cardinal/First China deal if it ever materializes!Thanks.

Charlie, I wanted you to know that there are a lot of posters on FCPG that bought the Stock of FCPG because a year ago they were convinced that Cardinal would make a bid to buy First China for about $10. I thought that if you are still around you might look at the board of FCPG and help us put a good word to Cardinal that now is the time to buy FCPG. Thanks.

contract with SFSH!!!!!!!!!!!!!!!!

Cardinal Health News.