Medline IPO Stock Falls In First Earnings Report Since Huge Initial Offering

IPO stock Medline (MDLN) pared losses Wednesday after the medical supplies giant issued its first earnings report since it went public in December.

Medline reported fourth-quarter sales of $7.8 billion, an increase of 14.8%, beating estimates of $7.115 billion, according to IBD MarketSurge estimates. Net income fell 37.7% to $180 million due to higher tariff and operating costs, including IPO-related expenses.

Fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell less than 1% to $805 million year over year.

For the full 2026, the company forecast organic sales growth of 8% to 9% and adjusted EBITDA of $3.5 billion to $3.6 billion. Its 2025 EBITDA was $3.5 billion, up 3.2% from 2024.

The IPO stock opened 5.5% lower but pared losses to 2.8% 70 minutes into the trading session. It briefly touched a record high.


The stock formed an IPO base and broke out Jan. 22 at a 45.50 buy point. It is now extended from that buy area. The relative strength line is making new highs, a positive sign.

Medline went public Dec. 17 in a $6.265 billion IPO that was the largest by a U.S. issuer since Rivian Automotive (RIVN) in 2021. Shares went public at 29 and have never traded below 34.

Northfield, Ill.-based Medline is a distributor of medical supplies across the health care system. Its warehouses stock more than 300,000 products, ranging from exam gloves to lab equipment to angiography needles. About 145,000 are third-party products. The company has made multiple acquisitions to grow its catalog, and today operates in more than 100 countries.

In an investor presentation in January, Medline cited long-term trends, such as an aging population needing more care, and growing numbers of patients with chronic illnesses.

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