Guardian Pharmacy posts adjusted earnings of $0.33 per share, raises 2026 outlook
Key Facts
Guardian Pharmacy Services reported third-quarter 2026 revenue of $371.1 million and net income of $19.1 million, compared with $9.6 million in the year-earlier period. Diluted earnings per share were $0.29, while adjusted earnings were $0.33 per share. The company also posted adjusted EBITDA of $33.9 million, up 24% year over year. The results followed the company’s announcement on October 21 that it would release them after the market close on November 5. GRDN shares closed at $42.09 on November 4, according to EL7 data.
Net income growth coincided with a 2% decline in revenue from a year earlier, putting profitability and revenue on different trajectories during the quarter. Chief Executive Fred Burke said revenue would have risen at a high single-digit rate compared with the third quarter of 2025 were it not for price reductions tied to the IRA. He added that the growth expected without those reductions was driven primarily by organic growth. That explanation provides context for the reported revenue decline while distinguishing the price impact from the expansion in activity described by the chief executive. The company did not provide a separate figure for what revenue would have been without the reductions in these results.
Adjusted EBITDA rose to $33.9 million, up 24% year over year, while net income was $19.1 million, compared with $9.6 million a year earlier. Adjusted earnings per share were $0.33, while diluted earnings per share were $0.29; the two are different measures of quarterly results. These figures show improvement in reported profitability metrics despite the annual revenue decline. In the second quarter of 2026, revenue was $351.8 million, up 2% from a year earlier, and adjusted earnings per share were $0.29. The prior-quarter comparison places the third-quarter result in the sequence of the year’s results, while the year-over-year comparison remains the basis the company cited for current-quarter metrics.
Guardian raised its fiscal 2026 revenue outlook to a range of $1.44–$1.46 billion and its adjusted EBITDA outlook to $136–$138 million. The company said the guidance excludes any future acquisitions and therefore does not include the impact of deals that have not yet been completed. In its second-quarter results announcement, it had raised its annual revenue outlook to $1.43–$1.45 billion. The new guidance increases both ranges compared with the previous outlook, alongside third-quarter results that combined lower annual revenue with higher net income and adjusted EBITDA. Management has thus set a higher full-year estimate for revenue and adjusted operating earnings following the period’s results.
The company ended the quarter serving about 218,000 residents, up 7% from the same period last year. Cash and cash equivalents totaled $119.7 million at quarter-end, and it had no long-term debt outstanding under its credit facility. Guardian provides pharmacy services for long-term care; it says it supplies care facilities with medication and a range of technology-enabled services to help residents adhere to their medication regimens. These figures show the size of the resident base served and the liquidity available at period-end, alongside revenue and profitability metrics. Management is scheduled to hold a call to discuss the results on November 5 at 4:30 p.m. Eastern time, according to its advance announcement.