Cardinal Health stock drops after mixed Q3 earnings; revenue misses estimates despite earnings beat.

Cardinal Health reported mixed results for Q3 2026, with adjusted earnings per share beating expectations at $3.17 versus $2.79 consensus, but revenue fell short at $60.94 billion compared to the $61.70 billion estimate. The Pharmaceutical and Specialty Solutions segment saw an 11% revenue increase, while the Global Medical Products segment remained flat. Despite the revenue miss, Cardinal Health raised its full-year 2026 earnings guidance and free cash flow outlook, signaling confidence in its business momentum. The company also expanded its nuclear medicine production capabilities, aiming for long-term growth. Following the report, Cardinal Health's stock fell over 8%.