Medline (MDLN) Q3 FY2026 earnings: revenue $7.9 billion, up 10.4% on the year
Medline Inc. (MDLN) reported revenue of $7.9 billion for Q3 FY2026, the quarter ended 26 September 2026, up 10.4% on the same quarter a year earlier. Net income was $198 million, down 37.7% on the year, and diluted earnings per share $0.22. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.
Revenue
$7.9 billion
+10.4% on the year · +2.2% on the quarter
Q1 FY2025Q3 FY2026
Operating margin
6.4%
8.1% a year earlier
Q1 FY2025Q3 FY2026
Net income
$198 million
-37.7% on the year · +235.6% on the quarter
Q1 FY2025Q3 FY2026
Diluted EPS
$0.22
+214.3% on the quarter
Q1 FY2025Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 1 raised, 1 new, 1 kept.
Net sales up 10.4% in quarter: Net sales were $7.9 billion, up 10.4%, with Organic Sales up 10.5% on the prior-year quarter.
Net income down 1.2%, EPS $0.22: Net income was $318 million, down 1.2% on the prior-year quarter. Diluted EPS was $0.22 and Adjusted Diluted EPS was $0.44.
Adjusted EBITDA up 11.8%: Adjusted EBITDA was $960 million, up 11.8% from the prior-year quarter, with an Adjusted EBITDA margin of 12.2%.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
1,025
715
636
+43.4%
+61.2%
Capital expenditure
141
111
101
+27.0%
+39.6%
Free cash flow
884
604
535
+46.4%
+65.2%
Free cash flow margin
11.3%
7.9%
7.5%
Cash from investing
-980
-461
-101
Cash from financing
-48.0
-159
-161
Depreciation and amortisation
259
256
253
+1.2%
+2.4%
Share-based compensation
29.0
29.0
15.0
0.0%
+93.3%
Buybacks
0.0
0.0
18.0
Diluted shares, weighted
1,316m
861m
n/a
+52.9%
Shares outstanding at period end
1,315m
1,315m
n/a
+0.0%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
11,801
11,572
n/a
+2.0%
Non-controlling interest
7,585
7,505
n/a
+1.1%
Redeemable equity
n/a
n/a
367
Short-term borrowings
1.0
1.0
n/a
0.0%
Debt
12,579
12,576
n/a
+0.0%
Other liabilities
8,212
7,696
n/a
+6.7%
Total liabilities and equity
40,178
39,350
n/a
+2.1%
Fixed assets
4,728
4,697
n/a
+0.7%
Goodwill
8,073
8,072
n/a
+0.0%
Intangible assets
13,377
13,538
n/a
-1.2%
Investments
1,287
350
n/a
+267.7%
Cash and equivalents
2,321
2,327
955
-0.3%
+143.0%
Receivables
3,794
3,661
n/a
+3.6%
Inventory
4,806
4,665
n/a
+3.0%
Other assets
1,792
2,040
n/a
-12.2%
Total assets
40,178
39,350
n/a
+2.1%
Questions
What was Medline's revenue in Q3 FY2026?
Medline (MDLN) reported revenue of $7.9 billion for Q3 FY2026, the quarter ended 26 September 2026, up 10.4% on the same quarter a year earlier.
How much did Medline earn in Q3 FY2026?
Net income for Q3 FY2026 was $198 million, down 37.7% on the year, and diluted earnings per share $0.22.
When did Medline report Q3 FY2026 results?
Medline filed its 10-Q for the quarter ended 26 September 2026 with the SEC on 4 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 26 September 2026, filed 4 November 2026: the filing.