Every material Form 8-K Cardinal Health filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Cardinal Health reported first-quarter fiscal 2026 revenue of $64 billion, up 22% from a year earlier, with GAAP diluted EPS up 11% to $1.88 and non-GAAP diluted EPS up 36% to $2.55. The company raised its fiscal 2026 non-GAAP EPS guidance to $9.65 to $9.85 from $9.30 to $9.50, and expects to complete the Solaris Health acquisition in early November, which will bring higher interest expense.
GAAP diluted EPS rose 11% to $1.88; non-GAAP diluted EPS rose 36% to $2.55 in the quarter ended September 30, 2025.
Fiscal 2026 non-GAAP EPS guidance raised to $9.65 to $9.85 from $9.30 to $9.50; adjusted free cash flow outlook raised to $3.0 billion to $3.5 billion.
Interest and other expense outlook raised to about $325 million from about $275 million, reflecting financing costs for the Solaris Health acquisition.
A $375 million accelerated share repurchase program was initiated in the first quarter.
Cardinal Health signed a new 364-day credit agreement with Bank of America as administrative agent, giving it access to $1.0 billion of revolving credit through October 6, 2026. It replaces an agreement entered into in October 2024 that has expired, and the facility backs the company's commercial paper program.
Credit agreement dated October 7, 2025, with Bank of America, N.A. as administrative agent
Revolving credit access of $1.0 billion through October 6, 2026, with an option to convert outstanding loans into term loans repayable one year after that date
Financial covenant requires a Consolidated Net Leverage Ratio of no greater than 3.75 to 1.00 at each fiscal quarter end
Cardinal Health entered into a First Amendment to its Fifth Amended and Restated Receivables Purchase Agreement, with a group of banks and conduit lenders, on September 30, 2025. The main purpose of the amendment is to extend the term of the receivables facility to September 28, 2028. The filing does not disclose the facility size or any change in its terms beyond the extension, so the effect on shareholders is limited to the continued availability of this financing source.
Amendment dated September 30, 2025, amends the agreement originally dated September 1, 2023
Facility term extended to September 28, 2028
Parties include Wells Fargo Bank, Bank of America, PNC Bank, The Bank of Nova Scotia and MUFG Bank among others
Cardinal Health completed a $1 billion public offering of two note series, $600 million due 2030 and $400 million due 2035, with proceeds intended to fund part of the price of its proposed Solaris Health acquisition. If the deal is not completed by the End Date, or the company decides not to pursue it, the notes must be redeemed at 101% of principal plus accrued interest.
$600 million of 4.500% notes due 2030 and $400 million of 5.150% notes due 2035 were sold on August 27, 2025.
Net proceeds are intended to fund part of the consideration and fees for the proposed Solaris Health acquisition.
The acquisition must close by the later of August 12, 2026 or a later extended date, or the notes face special mandatory redemption at 101% of principal plus accrued interest.
Proceeds will not be placed in escrow and no security interest is required.
Cardinal Health reported fourth-quarter and fiscal 2025 results and raised its fiscal 2026 non-GAAP diluted EPS outlook to $9.30 to $9.50, a $0.20 increase from the preliminary range given at its June 2025 Investor Day. Fourth-quarter revenue was flat at $60.2 billion, while non-GAAP diluted EPS rose 13% to $2.08, and the company said results were helped by segment profit growth. The company also announced that its Specialty Alliance unit has agreed to acquire Solaris Health, a urology management services organization.
Q4 FY2025 revenue was $60.2 billion, flat year over year; non-GAAP diluted EPS rose 13% to $2.08
Fiscal 2025 GAAP diluted EPS was $6.45; non-GAAP diluted EPS rose 9% to $8.24
FY2026 non-GAAP EPS outlook raised to $9.30 to $9.50, from $9.10 to $9.30 previously
Definitive agreement to acquire Solaris Health, announced in a separate news release on August 12, 2025
Cardinal Health reported third-quarter fiscal 2025 revenue flat at $54.9 billion, while non-GAAP operating earnings rose 21% to $807 million and non-GAAP diluted EPS rose 13% to $2.35. The company raised and narrowed its fiscal 2025 non-GAAP EPS guidance to $8.05 to $8.15, from $7.85 to $8.00, which points to higher expected profit for shareholders.
Revenue was flat year over year at $54.9 billion; excluding a previously communicated customer contract expiration, revenue rose 19%.
Non-GAAP operating earnings rose 21% to $807 million; non-GAAP diluted EPS rose 13% to $2.35.
GAAP diluted EPS was $2.10, up from $1.07, and GAAP results include $105 million in net litigation recoveries.
Fiscal 2025 non-GAAP EPS guidance was raised to $8.05 to $8.15, from $7.85 to $8.00; the company plans to discuss fiscal 2026 at an Investor Day on June 12, 2025.
Cardinal Health's Board elected two new independent directors, Robert Musslewhite and Sudhakar Ramakrishna, effective March 7, 2025. The filing describes the appointments as board additions and does not mention any change in executive roles or financial results, so the direct effect on shareholders appears limited.
Board elected Robert Musslewhite and Sudhakar Ramakrishna effective March 7, 2025; both will serve until the 2025 annual meeting.
Musslewhite, former CEO of Definitive Healthcare Corp., joins the Audit and Human Resources and Compensation Committees.
Ramakrishna, President and CEO of SolarWinds Corporation, joins the Audit and Risk Oversight Committees.
The Board determined both directors are independent under New York Stock Exchange rules; their pay matches other non-employee directors.
Cardinal Health reported fiscal second-quarter 2025 revenue of $55.3 billion, down 4% from a year earlier, though revenue rose 16% excluding a previously communicated large customer contract expiration. Non-GAAP diluted EPS rose 2% to $1.93, and the company raised its fiscal 2025 non-GAAP EPS guidance to $7.85 to $8.00 while completing its majority acquisition of GI Alliance.
Q2 revenue $55.3 billion, down 4%; GAAP diluted EPS $1.65, up 10%; non-GAAP diluted EPS $1.93, up 2%
Fiscal 2025 non-GAAP EPS guidance raised to $7.85 to $8.00, from $7.75 to $7.90
Interest and other expense outlook raised to $200 million to $230 million, from $140 million to $170 million
GMPD segment profit guidance lowered to $130 million to $150 million, from $140 million to $175 million, due to a WaveMark receivables write-off
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Cardinal Health filing is on SEC EDGAR ↗. 8-K briefs of other companies →