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CAH FY2026 Q2 IMPROVING

Отчётный звонок Cardinal Health, Inc.

Feb 05, 2026 · 08:30 ET Aaron AllupJason HollerMatt Seams
Вывод Buzzberg

Raising FY26 EPS guidance to $10.15-$10.35, 23-26% growth

Cardinal Health delivered another strong quarter with all five segments growing profit at least double digits, raised full-year EPS guidance for the second time to $10.15-$10.35 driven by pharma strength and continued progress in the GMPD turnaround. The company highlighted broad-based demand, particularly in specialty, theranostics, and at-home solutions, while also noting some near-term headwinds such as tariff impacts and lapping of new customer revenues in the second half. All five operating segments delivered double-digit or better profit growth in Q2 FY26, demonstrating balanced portfolio performance.

Вывод Buzzberg Raising FY26 EPS guidance to $10.15-$10.35, 23-26% growth Cardinal Health delivered another strong quarter with all five segments growing profit at least double digits, raised full-year EPS guidance for the second time to $10.15-$10.35 driven by pharma strength and continued progress in the GMPD turnaround. The company highlighted broad-based demand, particularly in specialty, theranostics, and at-home solutions, while also noting some near-term headwinds such as tariff impacts and lapping of new customer revenues in the second half. All five operating segments delivered double-digit or better profit growth in Q2 FY26, demonstrating balanced portfolio performance. Читать полный анализСвернуть анализ

Cardinal Health delivered another strong quarter with all five segments growing profit at least double digits, raised full-year EPS guidance for the second time to $10.15-$10.35 driven by pharma strength and continued progress in the GMPD turnaround. The company highlighted broad-based demand, particularly in specialty, theranostics, and at-home solutions, while also noting some near-term headwinds such as tariff impacts and lapping of new customer revenues in the second half. All five operating segments delivered double-digit or better profit growth in Q2 FY26, demonstrating balanced portfolio performance.

  • Pharma & Specialty segment profit rose 29% to $687M, driven by brand/specialty products, MSO platforms, and strong generic unit growth.
  • GLP-1 sales contributed approximately 6% of revenue growth in the quarter.
  • GMPD segment profit improved to $37M with Cardinal Health brand portfolio growing 10% in the US, though 3-4 pts of that growth was due to distributor restocking timing.
Revenue $65.441B reported
EPS $2.63 reported
Gross margin 3.38% reported
Op margin 1.08% reported

Что изменилось в этом квартале

01
Guidance

Raising FY26 EPS guidance to $10.15-$10.35, 23-26% growth

Guidance tone

02
Specialty

Specialty revenue to surpass $50 billion in fiscal 26

All five operating segments delivered double-digit or better profit growth in Q2 FY26, demonstrating balanced portfolio performance.

03
Growth

Five operating segments all delivered double-digit profit growth

Pharma & Specialty segment profit rose 29% to $687M, driven by brand/specialty products, MSO platforms, and strong generic unit growth.

04
Turnaround

GMDP segment profit raised to ~$150 million, turnaround progressing

GLP-1 sales contributed approximately 6% of revenue growth in the quarter.

AI, капзатраты и спрос

AI

Платформа и монетизация

AI is not discussed in this transcript.

Спрос

Заказы и конверсия

Management raised full-year EPS guidance for the second time this year to $10.15-$10.35, representing 23-26% growth, driven by broad-based demand strength and strong operational execution across all five segments.

Капзатраты

Инвестиции и мощности

Management is investing in technology infrastructure (e.g., Vantus HQ eCommerce platform, Total View Insights) and capital expenditures to support organic growth initiatives, with year-to-date capex of approximately $240 million and a full-year guidance of $600-$650 million. They are also investing in distribution network automation, cyclotron capacity, and GMPD network improvements.

Тон · Confident

Management repeatedly highlights strong execution, raised guidance twice, and expresses confidence in the resilience and momentum of the business.

Альфа цепочки поставок

A1

Cardinal Health brands in the GMPD segment saw 3-4 percentage points of growth from timing of inventory restocking by other distributors, which will offset in Q3.

LZ
“It is worth noting that we estimate three to four percentage points of this growth in the quarter was driven by the timing of inventory restocking by other distributors, which we anticipate offsetting in Q3.”
Aaron Allup

Прогноз компании

ImprovingGuidance tone
ПоказательПериодДиапазонСерединаСтатус
EPSFY2026$10.15–$10.35above к консенсусу$10.25RAISED
Free cash flowFY2026$3B–$3.5B$3.25BMAINTAINED
Op marginPHARMAFY202620%–22%21%RAISED
Op marginGMPDFY2026$150$150RAISED
Op marginOTHERFY202633%–35%34%RAISED

Надёжность прогнозов

1 / 1выполнено или превышено
Дата прогнозаПоказательЦелевой периодПрогнозФактРезультат
FY2026 Q3Free cash flowFY2026$3.3B–$3.7B$5BMet / beat

Сигналы по компаниям

LZ
-23.1%
с момента звонка
$7.58→$5.83
Цепочка поставокАльфа цепочки поставок

Cardinal Health brands in the GMPD segment saw 3-4 percentage points of growth from timing of inventory restocking by other distributors, which will offset in Q3. — Indicates temporary channel fill dynamics in the medical supply chain; peers may see similar inventory timing effects.

Aaron Allup