Filing Flows › Medline (MDLN) › Q2 2026 › vs Q1 2026
Medline (MDLN) Q2 2026 vs Q1 2026 (quarter over quarter)
Medline's revenue rose $333M (+5%) from $7.4B in Q1 2026 to $7.7B in Q2 2026. Gross margin 28.8% against 25.0% (+3.8 pts).
Medline, Q2 2026: revenue $7.7B (+12% year over year), operating margin 5.1%, net earnings $59.0M, operating cash flow $715M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 28.8% | 25.0% | +3.8 pts |
| Operating margin | 5.1% | 5.7% | -0.6 pts |
| Net margin | 0.8% | 1.8% | -1.0 pts |
| Free cash flow margin | 7.9% | 4.3% | +3.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $7.7B | $7.4B | $333M | +5% |
| Gross profit | $2.2B | $1.8B | $374M | +20% |
| Cost of revenue | $5.5B | $5.5B | −$41.0M | -0.7% |
| Operating profit | $395M | $422M | −$27.0M | -6% |
| Operating expenses | $1.8B | $1.4B | $401M | +28% |
| Pre-tax earnings | $235M | $291M | −$56.0M | -19% |
| Other expense, net | $160M | $131M | $29.0M | +22% |
| SG&A | $1.3B | $1.2B | $67.0M | +5% |
| Other operating costs | $525M | $191M | $334M | +175% |
| Net earnings | $59.0M | $132M | −$73.0M | -55% |
| Minority interests | $80.0M | $107M | −$27.0M | -25% |
| Income tax | $96.0M | $52.0M | $44.0M | +85% |
| Depreciation & amortization | $256M | $254M | $2.0M | +0.8% |
| Share-based compensation | $29.0M | $23.0M | $6.0M | +26% |
| Working capital & other | $371M | $3.0M | $368M | 124× |
| Operating cash flow | $715M | $412M | $303M | +74% |
| Free cash flow (OCF − capex) | $604M | $316M | $288M | +91% |
| Capital expenditures | $111M | $96.0M | $15.0M | +16% |
Questions
How much did Medline's revenue grow quarter over quarter in Q2 2026?
Medline's revenue rose $333M (+5%) from $7.4B in Q1 2026 to $7.7B in Q2 2026. Gross margin 28.8% against 25.0% (+3.8 pts).