Medline Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 11% sales growth, driven by strong Supply Chain Solutions and new customer wins, but adjusted EBITDA fell 11% due to higher costs and tariffs. Full-year organic sales guidance was raised to 8.5%-9.5%, while EBITDA guidance remains unchanged, balancing tariff relief with operational investments and inflationary headwinds.
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Strong Q4 and FY2025 results were driven by robust new customer signings, high fill rates, and technology investments. 2026 guidance projects 8%-9% organic growth and $3.5-$3.6 billion EBITDA, with tariff headwinds expected to normalize by year-end. Expansion in labs, dental, and international markets continues.
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Medline outlined its vertically integrated model, robust growth strategy, and focus on customer value at its first public conference appearance. Despite tariff headwinds, the company targets high single-digit revenue growth, $1B in new Prime Vendor signings annually, and margin recovery by 2027.
Fiscal Year 2025
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Achieved double-digit sales growth and record new customer signings in 2025, with strong performance across all segments and a successful IPO strengthening the balance sheet. 2026 guidance calls for 8%-9% organic sales growth and stable EBITDA despite ongoing tariff headwinds.