$MDLN · Medline Inc.
Medline reported Q3 FY2026 (ended Sept 26, 2026) net sales of $7.856B, up 10.4% YoY, with organic sales up 10.5%. GAAP net income fell 1.2% to $318M; diluted EPS was $0.22 GAAP and $0.44 adjusted. Nine-month revenue rose 10.9% to $22.9B, but net income fell 28.8% to $696M on a $316M Tracy distribution-center fire loss and higher costs. The company raised FY2026 organic sales guidance to 10.0%-10.5% and reaffirmed Adjusted EBITDA guidance of $3.3B-$3.4B, and announced a $1B share repurchase authorization plus a $750M term-loan prepayment.
- Q3 revenue $7.856B, +10.4% YoY; organic sales +10.5%.
- Q3 GAAP EPS $0.22; adjusted EPS $0.44.
- Nine-month net income fell 28.8% to $696M on a $316M Tracy fire loss.
- FY2026 organic sales guidance raised to 10.0%-10.5% from 9.0%-10.0%.
- Board authorized a $1B share repurchase program and prepaid $750M of term loan.
Extended-hours last trade $37.72, +10.65% vs regular close of $34.09, signaling a strongly positive after-hours reaction to the guidance raise and buyback.
A guidance raise plus a $1B buyback amid double-digit organic growth signals strong momentum despite a fire-driven profit decline.
As the largest med-surg distributor, Medline's double-digit organic growth and $1B buyback contrast with peers facing pricing pressure and tariff headwinds.
Nine-month results were pressured by a $316M Tracy distribution-center fire loss, higher tariffs and inflation-driven inventory costs, and FDA remediation costs. Guidance excludes $324M of net IEE tariff refunds, which may not recur.