Cardinal Health (CAH) Q3 FY26 earnings call

The thesis strengthened rather than shifted: a resilient distribution core plus accelerating higher-margin Specialty and 'other' growth businesses let management raise the full-year outlook again, even as GMPD absorbs tariffs and Pharma revenue optics are muddied by IRA WAC repricing and moderating GLP-1 mix. The forward stance leans into disciplined Specialty bolt-on M&A, synergy realization, and below-the-line optimization heading into an early-framed but reaffirmed FY27.