Medline Inc. reported strong sales growth in the fourth quarter and full year 2025, while net earnings declined as the medical-surgical supplier faced higher product and operating costs and expenses tied to its initial public offering.
For the quarter ending Dec. 31, Medline’s sales rose 14.8% to $7.8 billion, up from $6.8 billion a year earlier. Net earnings fell 37.7% to $180 million, compared with $289 million in the fourth quarter of 2024.
For the full year, sales increased 11.5% to $28.4 billion, up from $25.5 billion in 2024. Net earnings declined 3.6% to $1.16 billion, compared with $1.20 billion a year earlier.
The company said sales growth was driven by higher volumes across branded products and supply-chain services, which serve hospitals, clinics, and other healthcare providers.
CEO Jim Boyle said Medline ended the year with $2.4 billion in new customer signings, reflecting continued demand from health systems.
“We delivered strong fourth-quarter results, concluding a successful 2025,” Boyle said in a statement, citing customer demand for Medline’s products, service levels, and nationwide distribution capabilities.
The fourth quarter also marked Medline’s transition to a public company, following the completion of its IPO in December.
Medline said higher costs weighed on earnings in both the quarter and the full year, including increased product costs tied to tariffs, higher staffing expenses and one-time costs associated with becoming a public company.
Headquartered in Northfield, Illinois, Medline employs more than 45,000 people worldwide and operates in more than 100 countries, supplying medical-surgical products and supply-chain services across the healthcare system.
Looking ahead, Medline said it expects sales growth of 8% to 9% in 2026.
Do not miss any content from Distribution Strategy Group. Join our list.
