CAH

Research · Sep 3, 2026

[CAH] Cardinal Health Thesis 2026: Pharmaceutical Distribution Earnings Guidance Raised Double Digits

Cardinal Health FY25 (Jun 30, 2025 FYE) at $222.58B revenue (-2% on customer contract expiration). NI $1.56B; EPS $6.45 (+87%). Operating income +83%. Pharma & Specialty Q4 revenue +22% ex-expiration, segment profit +11%. GMPD profit highest in years. FY26 guide raised to EPS $9.30-$9.50 (+13-15%); Pharma revenue growth +11-13% on new customer wins.