Cardinal Health reported a stronger first quarter of fiscal 2027, with revenue, operating earnings and per-share profit all higher than a year earlier. The company also raised its full-year adjusted earnings outlook after what Chief Executive Jason Hollar described as a strong start to the year.
The quarter ended Sept. 30, 2026. Cardinal Health also completed a $500 million share-repurchase program during the quarter.
Key details
- Revenue rose 5% to $67.5 billion, from $64.0 billion in the first quarter of fiscal 2026.
- Operating earnings under GAAP increased 13% to $753 million. On a non-GAAP basis, operating earnings rose 17% to $1.0 billion, compared with $857 million a year earlier.
- Net earnings attributable to Cardinal Health climbed 23% to $554 million. Non-GAAP net earnings increased 24% to $759 million.
- Diluted earnings per share were $2.38, up 27%. Non-GAAP diluted EPS rose 28% to $3.26, from $2.55.
- Cardinal Health said the increase in non-GAAP EPS reflected stronger non-GAAP operating earnings, a lower share count and a lower effective tax rate.
- The GAAP effective tax rate fell to 19.2% from 24.1%; the non-GAAP rate declined to 18.5% from 21.9%.
- The company raised its fiscal 2027 non-GAAP EPS outlook to $12.80–$13.00. That implies growth of 17% to 19% against its fiscal 2026 baseline excluding a tariff refund, or 14% to 15% compared with reported fiscal 2026 results. The previous guidance range was not included in the announcement.
- Cardinal Health completed $500 million in share repurchases during the quarter.
The results show gains in both reported and adjusted earnings, with the company citing operating performance, a reduced share count and lower taxes as contributors to adjusted per-share growth. The higher full-year outlook reflects Cardinal Health’s improved expectations for the remainder of fiscal 2027.