Medline Inc. — Form 8-K

Medline reported Q2 2026 net sales of $7.7B (+11.6% YoY) and 6-month sales of $15.0B (+11.1% YoY), driven by existing customer growth and new customer signings. However, net income fell 58.3% to $139M in Q2 and 42.3% to $378M in 6 months, primarily due to a $336M loss from a fire at its Tracy, California distribution center (before insurance recovery). The company recognized $243M in net IEEPA tariff refund benefits ($332M refunds less $89M customer repayments). Adjusted EBITDA grew 13.4% to $1.06B in Q2 and 1.9% to $1.84B in 6 months. FY2026 guidance was raised for Organic Sales to 9.0%–10.0% (from 8.5%–9.5%) but lowered for Adjusted EBITDA to $3.3B–$3.4B (from $3.5B–$3.6B), citing Middle East conflict inflation and operational investments.