Cardinal Health CAH

Cardinal Health reports Q1 FY27 results and raises outlook

Item 2.02 Reports results, Item 7.01 Investor disclosure

Form: 8-K
Filed: Nov 5, 2026, 6:48 am ET
Importance: Major
Accession: 0000721371-26-000042

Revenue increased 5% to $67.5 billion
GAAP diluted EPS increased 27% to $2.38
Non-GAAP diluted EPS increased 28% to $3.26
Raises FY27 non-GAAP EPS guidance to $12.80-$13.00

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The reading, claim by claim

GAAP operating earnings increased 13% to $753 million, and GAAP diluted EPS increased 27% to $2.38.
Non-GAAP operating earnings increased 17% to $1.0 billion, with non-GAAP diluted EPS rising 28% to $3.26.
The updated guidance includes higher expectations for segment profit growth, including 10% to 12% for the Pharmaceutical and Specialty Solutions segment and 17% to 20% for the Other segment.
Cardinal Health completed a $500 million share repurchase program in the first quarter.
The company also announced a binding letter of intent to renew its pharmaceutical distribution agreements with CVS Health, which is expected to support continued volume growth.

5 of 5 claims matched the filing text.

For perspective, checked against its own source

From the 10-K for the year ended June 30, 2026

The company's gross margin was 3.8%, operating margin 1.0%, and net margin 0.7%.

From the filing

Item 2.02: Results of Operations and Financial Condition

On November 5, 2026, Cardinal Health, Inc. (the "Company") issued a news release announcing its results for the quarter ended September 30, 2026. A copy of the news release is included as Exhibit 99.1 to this report.

Item 7.01: Regulation FD Disclosure

During a webcast scheduled to be held at 8:30 a.m. Eastern time on November 5, 2026, the Company's Chief Executive Officer and Chief Financial Officer will discuss the Company's results for the quarter ended September 30, 2026 and outlook for the fiscal year ending June 30, 2027. The slide presentation for the webcast will be available on the Investors page at ir.cardinalhealth.com . An audio replay of the webcast also will be available on the Investors page at ir.cardinalhealth.com .

Item 9.01: Financial Statements and Exhibits

(d) Exhibits

Exhibit

Number Exhibit Description

99.1 News release issued by the Company on November 5 , 202 6 announcing first-quarter results.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Cardinal Health, Inc.

(Registrant)

Date: November 5, 2026 By: /s/ AARON E. ALT

Aaron E. Alt

Chief Financial Officer

FOR IMMEDIATE RELEASE

Cardinal Health Reports First Quarter Fiscal Year 2027 Results and Raises Outlook

• First quarter revenue increased 5% to $67.5 billion

• GAAP 1 operating earnings increased 13% to $753 million; GAAP diluted EPS increased 27% to $2.38 • Non-GAAP operating earnings increased 17% to $1.0 billion; non-GAAP diluted EPS increased 28% to $3.26 • Cardinal Health raises fiscal year 2027 non-GAAP EPS guidance 2 to $12.80 to $13.00, 17% to 19% growth 3 from its FY26 ex-tariff refund baseline and 14% to 15% growth from reported FY26 results

• Cardinal Health completes $500 million share repurchase program in first quarter⁴

DUBLIN, Ohio, November 5, 2026 - Cardinal Health (NYSE: CAH) today reported first quarter fiscal year 2027 revenues of $67.5 billion, an increase of 5% from the first quarter of fiscal year 2026. First quarter GAAP operating earnings increased 13% to $753 million and GAAP diluted earnings per share (EPS) increased 27% to $2.38.¹

First quarter non-GAAP operating earnings increased 17% to $1.0 billion.² ²Non-GAAP diluted EPS increased 28% to $3.26², reflecting the increase in non-GAAP operating earnings, a lower share count, and a lower effective tax rate.

"Our results reflect a strong start to fiscal 2027 and demonstrate consistent execution against our strategic priorities," said Jason Hollar, CEO of Cardinal Health. "We continue to benefit from focused investments, disciplined operations and the strength of our diversified portfolio. Given this quarter's strong performance and our updated expectations for the remainder of the year, we are raising our fiscal 2027 non-GAAP EPS outlook."

Q1 FY27 summary Q1 FY27 Q1 FY26 Y/Y Revenue $67.5 billion $64.0 billion 5%

Operating earnings

$753 million $668 million 13% Non-GAAP operating earnings $1.0 billion $857 million 17%

Net earnings attributable to Cardinal Health, Inc.

$554 million $450 million 23% Non-GAAP net earnings attributable to Cardinal Health, Inc. $759 million $611 million 24% Effective Tax Rate 19.2% 24.1%

Non-GAAP Effective Tax Rate 18.5% 21.9%

Diluted EPS attributable to Cardinal Health, Inc. $2.38 $1.88 27% Non-GAAP diluted EPS attributable to Cardinal Health, Inc. $3.26 $2.55 28%

Cardinal Health

Page 2

Segment results

Pharmaceutical and Specialty Solutions segment

Q1 FY27 Q1 FY26 Y/Y Revenue $62.6 billion $59.2 billion 6% Segment profit $783 million $667 million 17%

First quarter revenue for the Pharmaceutical and Specialty Solutions segment increased 6% to $62.6 billion, driven by brand and specialty pharmaceutical sales growth from existing customers.

Pharmaceutical and Specialty Solutions segment profit increased 17% to $783 million in the first quarter, primarily driven by contributions from brand and specialty products and positive generics program performance.

Global Medical Products and Distribution segment

Q1 FY27 Q1 FY26 Y/Y Revenue $3.2 billion $3.2 billion —%

Segment profit

$33 million $46 million (28)%

First quarter revenue for the Global Medical Products and Distribution segment was approximately flat to the prior year at $3.2 billion. This was primarily driven by growth in Cardinal Health Brand, offset by lower distribution revenue.

Global Medical Products and Distribution segment profit decreased to $33 million in the first quarter, due to unfavorable distribution and foreign exchange impacts partially offset by growth in Cardinal Health Brand.

Other 4

Q1 FY27 Q1 FY26 Y/Y Revenue $1.8 billion $1.6 billion 7%

Segment profit

$193 million $166 million 16%

First quarter revenue for Other increased 7% to $1.8 billion, driven by growth across the three operating segments: Nuclear and Precision Health Solutions, at-Home Solutions, and OptiFreight Logistics.

Other profit increased 16% to $193 million in the first quarter, driven by growth across the three operating segments: OptiFreight Logistics, Nuclear and Precision Health Solutions, and at-Home Solutions.

Cardinal Health

Page 3

Fiscal year 2027 outlook 2

Cardinal Health is raising its fiscal year 2027 guidance for non-GAAP diluted EPS to $12.80 to $13.00, from the previous range of $12.40 to $12.60. The updated guidance reflects +17% to +19% growth 3 compared to its FY26 ex-tariff refund baseline and +14% to +15% growth from reported FY26 results.

The updated guidance reflects the following increased expectations at the segment level:³

• Pharmaceutical and Specialty Solutions profit growth raised to 10% to 12%, from the prior range of 8% to 11% • Other profit growth raised to 17% to 20%, from the prior range of 15% to 18%³ • Other revenue growth raised to 12% to 14%, from the prior range of 11% to 13%

The company is also updating the following assumptions for the year:

• Non-GAAP effective tax rate lowered to 18.5% to 19.5%, from the prior range of 19.0% to 20.0% • Diluted weighted average shares outstanding of 231 million to 232 million, from the prior guidance of approximately 233 million, reflecting the timing of the $500 million accelerated share repurchase in Q1

Recent highlights

• Cardinal Health entered into a binding letter of intent to renew its pharmaceutical distribution agreements with CVS Health⁵, reinforcing a long-standing strategic relationship and enabling continued volume growth within the Pharmaceutical and Specialty Solutions segment

• Cardinal Health anticipates completing the acquisition of AdaptHealth's Diabetes Health business in Q3 of fiscal 2027

• Cardinal Health

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