Filing Flows › Medline (MDLN) › Q2 2026
Medline (MDLN) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Medline (MDLN) reported revenue of $7.7B for the second quarter 2026 (Q2 2026), +12% from a year earlier and +5% from the quarter before. Operating margin was 5.1%, net earnings $59.0M (0.8% of revenue).
Medline, Q2 2026: revenue $7.7B (+12% year over year), operating margin 5.1%, net earnings $59.0M, operating cash flow $715M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.7B | +5% | +12% |
| Gross profit | $2.2B | +20% | +16% |
| Operating profit | $395M | -6% | -38% |
| Net earnings | $59.0M | -55% | -82% |
| Operating cash flow | $715M | +74% | +263% |
| Free cash flow | $604M | +91% | +594% |
What changed
Revenue was $7.7B in Q2 2026, up 12% year over year and up 5% from the previous quarter.
Gross margin was 28.8%, up 1.2 points from a year earlier. Operating profit was $0.40B, a 5.1% margin (down 4.2 points year over year). Operating profit fell $0.25B even though revenue rose $0.80B versus a year earlier, so costs grew faster than sales. Operating expenses grew 44% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+176%). Net earnings were $0.06B, down 82% year over year. The effective tax rate was 40.9%.
Operating cash flow was $0.71B (up 263% year over year), 514% of net income including minority interests. Non-cash charges added back $0.26B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.29B. Capital expenditures of $0.11B left free cash flow of $0.60B.
Questions
What was Medline's revenue in the second quarter 2026?
Medline (MDLN) reported revenue of $7.7B for the second quarter 2026 (Q2 2026), +12% from a year earlier and +5% from the quarter before.
Was Medline profitable in the second quarter 2026?
Operating profit was $395M (5.1% of revenue) and net earnings $59.0M.
Source: Medline 10-Q on SEC EDGAR.