Cardinal Health (CAH) Bank of America Global Healthcare Conference 2026 summary

Financial performance and guidance

• Delivered strong Q3 results with 18% profit growth in pharma and over 30% profit growth in three other growth businesses.

• Raised non-GAAP EPS guidance to $10.70-$10.80, reflecting operational performance and strong demand across the portfolio.

• Specialty business grew over 20% in the quarter and year-to-date, with continued momentum expected into Q4 and next year.

• Adjusted free cash flow guidance increased to $3.3-$3.7 billion for the year, supported by resilient business model and disciplined capital allocation.

• Share repurchases exceeded $1 billion year-to-date, surpassing the initial $750 million commitment.

Strategic investments and M&A

• Continued execution on MSO integration, including closing Solaris and ongoing tuck-in acquisitions in GI and urology platforms.

• Acquired leading platforms in gastroenterology (GI Alliance) and urology (Urology America, Solaris), focusing on building an ecosystem around community practitioners.

• Investments in technology, process, and team aim to make the company the partner of choice for fragmented specialties.

• Diversification of revenue streams through MSOs in urology, gastroenterology, and oncology, with ongoing opportunities for cross-business synergies.

Business segment highlights

• Specialty and biopharma services, including Sonexus, are on track to double supported therapies by fiscal 2028, driven by new customer wins and investments in technology.

• GMPD business benefits from contractual protections against commodity volatility and focuses on innovation and private label growth, especially in acute and ASC environments.

• Cardinal Health Brand grew 5% in Q3, with continued focus on innovation and expanding private label offerings.

• Nuclear and Precision Health Solutions maintains a leading market position, with over 70 products in the pipeline and $150 million invested in PET network expansion.

• OptiFreight Logistics continues to take market share, providing significant customer savings and strong growth despite being the smallest reporting unit.