Guardian Pharmacy Services (GRDN) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Guardian Pharmacy Services published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Guardian Pharmacy Services reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Negotiated Medicare prices for the first ten Part D drugs under the Inflation Reduction Act took effect in January 2026. They lower both revenue and cost of goods sold, so Q3 2026 revenue is not directly comparable with Q3 2025.
• Guardian reports in thousands. Figures here are converted to millions.

Source: Guardian Pharmacy Services Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

From the earnings release

Guardian's updated 2026 guidance: revenue of $1.44 billion to $1.46 billion (previously $1.43 billion to $1.45 billion) and Adjusted EBITDA of $136 million to $138 million (previously $129 million to $131 million). It gives no EPS guidance.

In its Q3 2026 release, Guardian Pharmacy Services said:

“The Company also raised its full-year guidance.”

“The guidance below excludes any future acquisitions.”

Source: Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the GRDN forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS of Class A and Class B common stock, each as first reported in that quarter's release. Revenue from Q1 2026 on reflects IRA drug price reductions.

We do not hold a confirmed date for Guardian Pharmacy Services's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Guardian Pharmacy Services is a long-term care pharmacy: it dispenses and delivers medications to residents of long-term care facilities, and recognizes revenue when prescriptions are delivered. More than two-thirds of its annual revenue comes from residents of assisted living facilities and behavioral health facilities and group homes; most of the rest comes from skilled nursing facilities. (Guardian Pharmacy Services Form 10-K, 2025, Mar 11, 2026; Guardian Pharmacy Services Form 10-Q, Q3 2026, Nov 5, 2026)

Guardian Pharmacy Services' Q3 2026 revenue was $371.1 million, down 1.7% from $377.4 million. Acquisitions added $7.3 million, and organic revenue fell $13.7 million, which the 10-Q attributes primarily to IRA price decreases. The CEO said in the release that revenue would have been up high single digits without the IRA price reductions. (Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026; Guardian Pharmacy Services Form 10-Q, Q3 2026, Nov 5, 2026)

Volumes rose while prices fell. Guardian Pharmacy Services served about 218,000 residents in September 2026, against 204,000 a year earlier, and dispensed 8.1 million prescriptions in the quarter, against 7.3 million. (Guardian Pharmacy Services Form 10-Q, Q3 2026, Nov 5, 2026; Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026)

The IRA cut cost of goods sold more than revenue in dollar terms. Cost of goods sold fell 5.6% to $285.8 million and dropped to 77.0% of revenue from 80.2%, which the 10-Q attributes primarily to IRA product cost decreases. Gross profit rose to $85.2 million from $74.7 million. (Guardian Pharmacy Services Form 10-Q, Q3 2026, Nov 5, 2026; Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026)

Guardian Pharmacy Services grows partly by acquisition. In the quarter it bought Wellness Concepts in Virginia and certain assets of Nautilus, moving that resident base onto 18 existing pharmacies; after the quarter it added a pharmacy in Sioux City, Iowa and Van's Institutional Pharmacy in western Tennessee and Kentucky. It runs a network of more than 63 licensed pharmacies, 57 of them full-service. (Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026)

Guardian Pharmacy Services reported GAAP diluted EPS of $0.29 in Q3 2026, against $0.15, and Adjusted EPS of $0.33, against $0.25. Net income attributable to Guardian was $18.7 million, against $9.8 million. Adjusted net income of $21.4 million adds back $2.7 million of share-based compensation and $0.9 million of acquisition-related intangible amortization, less the tax effect of the adjustments. (Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026)

The year-ago quarter carried more one-off costs. Share-based compensation fell to $2.7 million from $4.4 million, and Q3 2025 included $1.7 million of tax expense tied to the corporate reorganization and IPO. The effective tax rate was 26.4%, against 42.3% a year earlier. (Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026; Guardian Pharmacy Services Form 10-Q, Q3 2026, Nov 5, 2026)

Guardian Pharmacy Services used 63,916 thousand diluted shares, against 63,432 thousand. On September 27, 2026, about 13.5 million Class B shares converted into Class A, completing the conversion that began with the September 2024 IPO reorganization. It had $119.7 million of cash and no long-term debt outstanding under its credit facility. (Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Guardian Pharmacy Services gives full-year guidance for revenue and Adjusted EBITDA, excluding any future acquisitions, and raised it with Q3 2026 results: revenue of $1.44 billion to $1.46 billion, from $1.43 billion to $1.45 billion, and Adjusted EBITDA of $136 million to $138 million, from $129 million to $131 million. 2025 revenue was $1,448.7 million, so the revenue range sits close to flat because of IRA price reductions, which the 10-Q expects to keep affecting comparisons through the rest of 2026. (Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026; Guardian Pharmacy Services Form 10-K, 2025, Mar 11, 2026; Guardian Pharmacy Services Form 10-Q, Q3 2026, Nov 5, 2026)

Guardian Pharmacy Services gives no EPS guidance and does not reconcile the Adjusted EBITDA guidance to net income, citing income taxes and share-based compensation. (Guardian Pharmacy Services Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Guardian Pharmacy Services, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Guardian Pharmacy Services's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning GRDN is on is GRDN a buy or a sell?, what analysts expect next is on the GRDN forecast, and what the company does is on the Guardian Pharmacy Services (GRDN) stock page.

Every number on this page can be traced to a document Guardian Pharmacy Services published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.