Cardinal Health (CAH) Leads Medical Sector in Latest Earnings Reports Across 12 Majors for Q4 2025

A wave of earnings announcements from major corporations is set to reshape investor portfolios, with Cardinal Health (CAH) standing out as a healthcare sector standout. The medical and healthcare industries are well-represented in this earnings cycle, featuring Cardinal Health alongside Cigna Group (CI) and Bristol-Myers Squibb (BMY), while a dozen major companies across multiple sectors prepare to report quarterly results.

Cardinal Health’s Strong Q4 Performance: Standout EPS Growth Among Healthcare Stocks

Cardinal Health, the medical and dental supplies leader, is expected to deliver particularly robust results. Analysts forecast Cardinal Health’s earnings per share at $2.37, representing a commanding 22.80% increase compared to the same quarter last year. This impressive growth trajectory reflects Cardinal Health’s operational excellence and market positioning. Over the past year, Cardinal Health has consistently surpassed analyst expectations every single quarter, with its strongest performance in the third calendar quarter where it exceeded the consensus by 15.38%.

The valuation picture further underscores Cardinal Health’s attractiveness. Zacks Investment Research reports that CAH carries a 2026 Price-to-Earnings ratio of 21.67, outpacing the industry average of 14.60. This premium valuation suggests that investors are pricing in Cardinal Health’s superior earnings growth relative to competitors in the medical supplies sector.

Healthcare Sector Earnings Preview: CAH, Cigna, and Bristol-Myers Squibb

Beyond Cardinal Health, the healthcare sector will see significant activity from other major players. The Cigna Group (CI), an HMO leader, is projected to announce earnings per share of $7.87, marking an 18.52% year-over-year increase. However, Cigna faces some headwind: it missed consensus EPS targets in the fourth calendar quarter of 2024 by 15.2%. Despite this recent miss, Cigna’s projected Q4 results suggest renewed momentum with an 18.52% jump in earnings.

Bristol-Myers Squibb (BMY), the biomedical and gene therapy company, presents a different growth narrative. Analysts expect BMY to post $1.15 per share, though this represents a 31.14% decline from the prior year. Yet BMY has demonstrated consistent beat execution, having surpassed expectations every quarter in the past year, with the strongest beat of 10.14% in the third calendar quarter. BMY’s P/E ratio stands at 9.19 versus an industry average of -6.00, indicating relative strength in an industry facing headwinds.

Energy Sector Earnings: ConocoPhillips and Barrick Mining

The energy complex will receive notable attention from two major players. ConocoPhillips (COP), a global oil producer, faces significant headwinds with consensus EPS forecasts at $1.08, representing a 45.45% year-over-year decline. However, COP’s track record of beat execution is impressive—the company has exceeded expectations every quarter over the past year, with the strongest beat reaching 15% in the third calendar quarter. COP trades at a 2025 P/E ratio of 16.87 compared to an industry average of 12.00.

Barrick Mining Corporation (B), the gold mining leader, tells a more encouraging story with consensus EPS expected at $0.82, up 78.26% year-over-year. While Barrick met analyst expectations once and beat them in three of the past four quarters, the gold sector is clearly experiencing favorable conditions reflected in these strong earnings expectations.

Industrial and Manufacturing Sector Updates

The industrial sector features three significant names preparing earnings releases. Cummins Inc. (CMI), the engines manufacturer, is projected to post $5.20 per share, a modest 0.78% increase year-over-year. CMI has consistently beaten expectations every quarter in the past year, with the strongest performance reaching 18.18% above consensus in Q3. At a 2025 P/E ratio of 26.01 against an industry average of 26.00, CMI reflects fair valuation relative to peers.

Rockwell Automation, Inc. (ROK), an electrical instruments and controls company, presents bullish momentum with consensus EPS forecast at $2.54, up 38.80% from the prior year. ROK has also exceeded expectations every quarter over the past 12 months, with its strongest beat of 13.61% in the third calendar quarter. ROK’s 2026 P/E ratio of 35.50 significantly exceeds the industry average of 4.50, indicating strong investor confidence in future growth.

Carrier Global Corporation (CARR), the building systems manufacturer, faces more challenging near-term conditions. Consensus EPS is expected at $0.36, down 33.33% year-over-year. Yet CARR also boasts a consistent track record of beating expectations every quarter in the past year, with the strongest beat reaching 21.82% in Q3. The company trades at a 2025 P/E ratio of 23.45 against an industry average of 27.10.

Financial Services and Diversified Holdings

The financial services sector will showcase Intercontinental Exchange Inc. (ICE) and KKR & Co. Inc. (KKR). Intercontinental Exchange, the securities exchange operator, is expected to report $1.67 per share, up 9.87% year-over-year. ICE has beaten expectations every quarter over the past year, with the strongest beat reaching 5.56% in Q3. Its 2025 P/E ratio of 23.57 slightly exceeds the industry average of 22.90.

KKR & Co., the alternative investment management and finance company, faces a slight headwind with consensus EPS forecast at $1.06, down 5.36% year-over-year. KKR trades at a 2025 P/E ratio of 23.47 against an industry average of 25.00, suggesting moderate valuation relative to sector peers.

Chemicals and Utilities: Linde and Xcel Energy

Chemical company Linde plc (LIN) brings strong momentum with consensus EPS of $4.15, up 4.53% year-over-year. LIN has consistently beaten expectations every quarter in the past 12 months, with its strongest outperformance of 0.72% in Q3. Trading at a 2025 P/E ratio of 28.21 versus an industry average of 7.70, LIN reflects premium growth expectations.

Xcel Energy Inc. (XEL), the electric power utilities company, is projected to deliver $0.97 per share, up 19.75% year-over-year. XEL carries a 2025 P/E ratio of 19.93 against an industry average of 27.30, suggesting relatively attractive valuation for investors seeking utility exposure.

Investment Implications: Why These Earnings Matter

This wave of earnings announcements provides critical insight into how major corporations are navigating the current economic environment. Cardinal Health’s exceptional performance in medical supplies, combined with strong growth signals from industrial names like Rockwell Automation, suggests select sectors remain resilient. Meanwhile, challenging conditions in energy (ConocoPhillips) and building systems (Carrier Global) remind investors that sector diversification remains prudent. The consistent pattern of beat execution across most names indicates that many companies have successfully managed to exceed cautious guidance, a positive signal for equity market sentiment heading into the remainder of 2026.