Cardinal Health, Inc. · NYSE:CAH

Cardinal Health — Q2 2026 Earnings Presentation

22 slides from Cardinal Health's earnings presentation, Feb 5, 2026

Slide 2: Cautions Concerning Forward-Looking Statements
• Q2 FY26 Earnings Cautions Concerning Forward-Looking Statements This presentation contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be identified by words such as "expect,"
Slide 4: Q2 FY26 financial summary
• Q2 FY26 Earnings Q2 FY26 financial summary GAAP Basis ($M) Non-GAAP Basis ($M) Q2 FY26 Q2 FY26 Revenue $65,627 N/A % change 19% Gross Margin $2,397 $2,398 % change 23% 24% SG&A $1,504 $1,520 % change 15% 16% Operating Earnings $707 $877 % change 29% 38% Interest and Other1 $77 N/A % change N.M. Ne
Slide 5: Pharmaceutical and Specialty Solutions
• Q2 FY26 Earnings Pharmaceutical and Specialty Solutions Q2 FY26 results Q2 FY26 ($M) Q2 FY25 ($M) YoY change Revenue $60,669 $50,849 19% Segment profit $687 $531 29% Segment profit margin 1.13% 1.04% 9 bps Drivers: Revenue Segment profit + Brand and specialty pharmaceutical sales growth + Brand an
Slide 6: Global Medical Products and Distribution
• Q2 FY26 Earnings Global Medical Products and Distribution Q2 FY26 results Q2 FY26 ($M) Q2 FY25 ($M) YoY change Revenue $3,259 $3,154 3% Segment profit $37 $18 106% Segment profit margin 1.14% 0.57% 57 bps Drivers: Revenue Segment profit + Volume growth from existing customers + Growth from existin
Slide 7: Other: NPHS, at-Home Solutions and OptiFreight
• Q2 FY26 Earnings Other: NPHS, at-Home Solutions and OptiFreight Q2 FY26 results Q2 FY26 ($M) Q2 FY25 ($M) YoY change Revenue $1,724 $1,283 34% Segment profit $179 $118 52% Segment profit margin 10.38% 9.20% 118 bps Drivers: Revenue Segment profit + Growth across the three operating segments + Grow
Slide 9: FY26 financial expectations
• Q2 FY26 Earnings FY26 financial expectations FY26 FY25 outlook actual Non-GAAP EPS $10.15 - $10.35 $8.24 Previously $9.65 - $9.85 Interest and Other ~$325M $174M Non-GAAP ETR 21.0% - 23.0% 23.3% Previously 22% - 24% Diluted weighted average shares 237M - 238M 242M outstanding Previously ~238M Shar
Slide 10: FY26 segment guidance
• Q2 FY26 Earnings FY26 segment guidance Revenue and segment profit Pharmaceutical Revenue growth of Segment profit growth of and Specialty Solutions 15% to 17% 20% to 22% Previously growth of 16% to 19% Other: at-Home Solutions Revenue growth of Segment profit growth of NPHS, OptiFreight Logistics
Slide 11: Strategic priorities
• Q2 FY26 Earnings Strategic priorities Relentless focus on simplification Build upon the growth and resiliency Execute GMPD Accelerate other of Pharmaceutical and Improvement growth businesses Specialty Solutions by Plan initiatives expanding in Specialty and shareholder value creation 11 © 2026 Ca
Slide 12: Supporting community-based physicians with a comprehensive model
• Q2 FY26 Earnings Supporting community-based physicians with a comprehensive model Advanced Data and MSO Platforms Technology Solutions Multi-Specialty Oncology Approx 60% of market Approx 40% of market Specialty Community Physicians PPS Analytics and SoNaR Real World Evidence/Data Broad Distributi
Slide 13: Adding Solaris Health to The Specialty Alliance
• Q2 FY26 Earnings Adding Solaris Health to The Specialty Alliance Transaction completed in early November Solaris Health overview Growing The Specialty Alliance Country's leading urology Bolsters CAH’s leadership managed service organization 1 in the urology specialty (MSO) with 750+ providers acro
Slide 14: Disciplined capital allocation framework
• Q2 FY26 Earnings Disciplined capital allocation framework Table stakes FY26 progress Investing back into the business to drive $239M in YTD capex organic growth Maintain investment grade balance sheet Achieved targeted leverage range ahead of schedule1 Baseline return of capital to shareholders ~$
Slide 15: Compelling investment thesis
• Q2 FY26 Earnings Compelling investment thesis Consistent Unique breadth Resilient Strong core Specialty key track record of capabilities model Pharma opportunity Higher-margin Progress Increasing Disciplined 12% to 14% growth with GMPD cash flow capital non-GAAP EPS businesses turnaround generatio

Cardinal Health — Q2 2026 Earnings Presentation on 6ix

Cardinal Health — Q2 2026 Earnings Presentation

Slide 1: Q2 FY26 Earnings

Slide 2: Cautions Concerning Forward-Looking Statements

Slide 3: Q2 Results

Slide 4: Q2 FY26 financial summary

Slide 5: Pharmaceutical and Specialty Solutions

Slide 6: Global Medical Products and Distribution

Slide 7: Other: NPHS, at-Home Solutions and OptiFreight

Slide 8: FY26 Outlook

Slide 9: FY26 financial expectations

Slide 10: FY26 segment guidance

Slide 11: Strategic priorities

Slide 12: Supporting community-based physicians with a comprehensive model

Slide 13: Adding Solaris Health to The Specialty Alliance

Slide 14: Disciplined capital allocation framework

Slide 15: Compelling investment thesis

Slide 16: Appendix

Slide 17: © 2026 Cardinal Health. All Rights Reserved.

Slide 18: © 2026 Cardinal Health. All Rights Reserved.

Slide 19: © 2026 Cardinal Health. All Rights Reserved.

Slide 20: © 2026 Cardinal Health. All Rights Reserved.

Slide 21: © 2026 Cardinal Health. All Rights Reserved.

Slide 22: © 2026 Cardinal Health. All Rights Reserved.