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Medline (MDLN) guidance and outlook

Medline (MDLN) raised its guidance on Nov 4, 2026: EBITDA $3.3B–$3.4B for FY2026. Medline's 10-Q filed Nov 4, 2026 makes 24 forward-looking statements, 12 of them new and 2 no longer said since the filing before.

Guidance and outlook

Latest guidance

From the earnings release filed Nov 4, 2026 (8-K on EDGAR).

Forward-looking statements, 10-Q filed Nov 4, 2026

• We expect total IEEPA refund claims, across all eligible mechanisms, to be approximately $507 million, including amounts already submitted via CAPE.
• updated · As of September 26, 2026, CBP had accepted approximately $402 million in total refunds we have submitted, and actions to recover the remaining expected amounts are ongoing.
• We evaluate recoveries of IEEPA tariffs in accordance with applicable gain contingency guidance and recognize such recoveries when they are received or realizable.
• We expect to remit a portion of the tariff refunds to customers.
• updated · As of September 26, 2026, we recorded approximately $78 million within Accrued expenses and other current liabilities for the total amount estimated to be remitted to customers in connection with total tariff refund claims expected.
• We will continue to evaluate the evolving macroeconomic environment and seek to take actions to mitigate the impact, if any, on our business and financial condition.
• new · While we expect to recover these amounts, the ultimate amount and timing of additional recoveries is not guaranteed and will be determined as the claims process progresses.
• Following the fire, we entered into lease agreements for two distribution centers in Northern California totaling more than 1.6 million square feet, including a facility in Tracy, California for near-term occupancy and a facility in Stockton, California expected to be available for use in January 2027.
• new · We have committed to taking additional remediation actions and have taken certain actions and made investments in Medline’s Quality organization, including changes to the organizational and operating model and corresponding workforce reductions during the period ended September 26, 2026, and expect increased costs for the remainder of fiscal year 2026.
• new · In connection with the voluntary field action, we will provide customers with a replacement or credits for recalled products and facilitating repair for certain other impacted customers.
• new · For the three months ended September 26, 2026, we also recorded $13 million of inventory write-downs related to the market exit of the Medline Brand beds after initial communication to the FDA of plans to exit in September.
• new · We currently estimate the incremental related costs, including inventory write-downs, to be approximately $60 million to $210 million, which are expected to be incurred in the fourth quarter of 2026 and 2027 and to be excluded from Adjusted EBITDA.

Medline's latest quarter

Questions

Did Medline raise or lower its guidance?

Medline (MDLN) raised its guidance on Nov 4, 2026: EBITDA $3.3B–$3.4B for FY2026.

What does Medline expect?

As of September 26, 2026, CBP had accepted approximately $402 million in total refunds we have submitted, and actions to recover the remaining expected amounts are ongoing. As of September 26, 2026, we recorded approximately $78 million within Accrued expenses and other current liabilities for the total amount estimated to be remitted to customers in connection with total tariff refund claims expected. While we expect to recover these amounts, the ultimate amount and timing of additional recoveries is not guaranteed and will be determined as the claims process progresses.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.