Option Care Health (OPCH) Q3 FY2026 earnings: revenue $1.5 billion, up 4.1% on the year

Option Care Health, Inc. (OPCH) reported revenue of $1.5 billion for Q3 FY2026, the quarter ended 30 September 2026, up 4.1% on the same quarter a year earlier. Net income was $57 million, up 10.8% on the year, and diluted earnings per share $0.38. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$1.5 billion

+4.1% on the year · +3.5% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

6.0%

5.9% a year earlier

Q4 FY2024Q3 FY2026

Net income

$57 million

+10.8% on the year · +6.5% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.38

+18.8% on the year · +8.6% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Revenue and net income both rose: Net revenue was $1,493.5 million against $1,435.0 million a year earlier. GAAP net income was $57.4 million against $51.8 million, and GAAP diluted EPS was $0.38 against $0.32.
Adjusted EBITDA and adjusted EPS rose: Adjusted EBITDA was $124.6 million against $119.5 million. Adjusted diluted EPS was $0.49 against $0.45 in the third quarter of 2025.
Diluted share count fell year over year: Weighted average diluted shares were 150.5 million against 163.1 million a year earlier. Nine-month diluted shares were 153.9 million against 164.6 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	1,494	1,442	1,435	+3.5%	+4.1%
Cost of revenue	1,209	1,175	1,162	+2.8%	+4.0%
Gross profit	285	267	273	+6.6%	+4.4%
Gross margin	19.1%	18.5%	19.0%
Selling, general and administrative	178	165	172	+7.9%	+3.2%
Operating income	89.2	85.1	84.5	+4.8%	+5.6%
Operating margin	6.0%	5.9%	5.9%
Interest expense	12.9	14.0	14.1	-8.2%	-9.0%
Pre-tax income	78.9	74.0	69.0	+6.6%	+14.4%
Income tax	21.5	20.1	17.2	+6.9%	+25.2%
Effective tax rate	27.2%	27.1%	24.9%
Net income	57.4	53.9	51.8	+6.5%	+10.8%
Net margin	3.8%	3.7%	3.6%
Diluted EPS	$0.38	$0.35	$0.32	+8.6%	+18.8%

$ million except per share.

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. 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
Operating cash flow	115	184	139	-37.5%	-17.7%
Capital expenditure	6.7	11.1	9.2	-39.7%	-27.3%
Free cash flow	108	173	130	-37.4%	-17.0%
Free cash flow margin	7.2%	12.0%	9.1%
Cash from investing	-6.7	-11.7	-11.7
Cash from financing	-2.7	-155	-16.7
Depreciation and amortisation	18.1	17.5	16.3	+3.8%	+11.2%
Share-based compensation	9.3	8.4	11.1	+11.3%	-16.1%
Buybacks	0.0	n/a	62.5
Diluted shares, weighted	150m	153m	163m	-2.0%	-7.7%
Shares outstanding at period end	150m	150m	160m	+0.0%	-6.4%

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
Shareholders' equity	1,324	1,260	1,359	+5.1%	-2.5%
Debt	1,158	1,159	1,162	-0.1%	-0.3%
Operating lease liabilities	82.3	86.2	90.9	-4.5%	-9.5%
Other liabilities	912	874	868	+4.3%	+5.0%
Total liabilities and equity	3,476	3,379	3,480	+2.9%	-0.1%
Fixed assets	139	140	134	-1.0%	+3.5%
Goodwill	1,607	1,607	1,607	0.0%	+0.0%
Intangible assets	281	291	318	-3.2%	-11.6%
Cash and equivalents	299	194	310	+54.4%	-3.5%
Receivables	506	512	474	-1.2%	+6.5%
Inventory	408	400	416	+2.1%	-1.8%
Other assets	236	236	220	+0.1%	+7.3%
Total assets	3,476	3,379	3,480	+2.9%	-0.1%

Questions

What was Option Care Health's revenue in Q3 FY2026?

Option Care Health (OPCH) reported revenue of $1.5 billion for Q3 FY2026, the quarter ended 30 September 2026, up 4.1% on the same quarter a year earlier.

How much did Option Care Health earn in Q3 FY2026?

Net income for Q3 FY2026 was $57 million, up 10.8% on the year, and diluted earnings per share $0.38.

When did Option Care Health report Q3 FY2026 results?

Option Care Health filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	927	916	981	1,021	1,027	1,016	1,069	1,093	1,124	1,146	1,227	1,279	1,346	1,333	1,416	1,435	1,465	1,351	1,442	1,494
Cost of revenue	715	715	764	803	796	787	818	839	877	908	978	1,022	1,078	1,070	1,147	1,162	1,183	1,089	1,175	1,209
Gross profit	212	201	217	218	231	229	251	254	247	238	249	257	268	263	269	273	283	262	267	285
Gross margin	23%	22%	22%	21%	22%	23%	23%	23%	22%	21%	20%	20%	20%	20%	19%	19%	19%	19%	19%	19%
SG&A	137	134	142	142	148	148	154	158	148	155	154	157	165	168	170	172	172	175	165	178
Operating income	60.8	52.2	59.1	60.7	68.2	66.6	82.4	81.0	84.6	69.0	80.7	85.1	87.0	79.2	82.7	84.5	91.5	72.5	85.1	89.2
Operating margin	7%	6%	6%	6%	7%	7%	8%	7%	8%	6%	7%	7%	6%	6%	6%	6%	6%	5%	6%	6%
Interest expense	14.3	12.2	12.8	14.0	14.8	13.8	13.2	11.8	12.4	13.2	12.6	12.3	10.9	13.2	14.4	14.1	12.7	13.3	14.0	12.9
Pre-tax income	47.0	41.3	47.6	52.1	64.8	54.2	156	70.1	78.9	57.0	72.0	73.6	81.0	63.6	68.9	69.0	81.5	61.0	74.0	78.9
Tax rate	-61%	27%	29%	25%	27%	28%	26%	20%	28%	21%	26%	27%	26%	26%	27%	25%	28%	26%	27%	27%
Net income	75.5	30.3	33.9	38.8	47.5	39.2	114	56.3	57.2	44.8	53.0	53.9	60.1	46.7	50.5	51.8	58.5	45.3	53.9	57.4
Net margin	8%	3%	3%	4%	5%	4%	11%	5%	5%	4%	4%	4%	4%	4%	4%	4%	4%	3%	4%	4%
Diluted EPS	$0.41	$0.17	$0.19	$0.21	$0.26	$0.21	$0.63	$0.31	$0.32	$0.26	$0.30	$0.31	$0.33	$0.28	$0.31	$0.32	$0.37	$0.29	$0.35	$0.38
Operating cash flow	65.3	32.7	104	87.1	43.5	89.8	170	61.0	51.0	-68.8	196	160	36.1	-7.2	90.3	139	35.9	-12.1	184	115
Capital expenditure	13.9	5.4	4.7	7.1	18.2	5.8	7.8	8.4	19.9	5.8	9.8	9.7	10.3	9.4	9.1	9.2	13.6	9.0	11.1	6.7
Free cash flow	51.4	27.3	99.6	80.1	25.2	84.0	162	52.6	31.1	-74.6	186	151	25.8	-16.6	81.2	130	22.2	-21.2	173	108
Buybacks	n/a	0.0	0.0	0.0	0.0	75.0	0.0	100	75.2	40.0	78.1	42.0	92.6	n/a	n/a	62.5	n/a	n/a	n/a	0.0
Shares outstanding	180m	180m	182m	182m	182m	180m	180m	177m	175m	174m	171m	170m	166m	164m	162m	160m	157m	157m	150m	150m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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 30 September 2026, filed 4 November 2026: the filing.