Revenue climbed to $7.86 billion for the third quarter, surpassing the $7.72 billion anticipated by analysts. The company now projects organic sales growth between 10% and 10.5%, an upward revision from its previous forecast of 9% to 10%. Adjusted earnings reached 44 cents per share, clearing analyst expectations by 10 cents.
In section Market Quotes
Medline Stock Jumps as Third-Quarter Sales Beat Expectations
A 16% surge in Medline shares on Wednesday followed the medical supplies company’s decision to raise its full-year growth outlook. While the stock remains down 5.6% for the year, the latest quarterly performance signaled a robust recovery, driven by sales figures that comfortably outpaced Wall Street’s consensus projections.
Financial gains were tempered by rising inventory costs linked to inflation and shifts in customer mix, factors that contributed to a 1.2% dip in overall profit. The company’s bottom line received a boost from $81 million in tariff refunds recorded during the period. These reimbursements have totaled $324 million over the nine months ending September 26.
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