Guardian Pharmacy Executive Forbes Retires, Morris to Become COO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 22 2026
0mins
Guardian Pharmacy Services announced that Kendall Forbes, who has served as Executive Vice President of Sales & Operations since 2004, has decided to retire, effective as of July 1. Upon Forbes's retirement, David Morris, currently Executive Vice President and CFO of Guardian will assume the role of COO. In connection with Morris' new role, Will Mudd, Senior Vice President, Finance, has been appointed CFO of Guardian. The leadership changes will be effective July 1. Mudd has served as Senior Vice President, Finance of the company since 2012, overseeing financial accounting and reporting, revenue cycle management, and human resources. Prior to joining Guardian, Mudd spent approximately ten years with the audit services group at Grant Thornton servicing a broad range of clients, ranging from small, private equity-backed private companies to mature public companies.
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Analyst Views on GRDN
Wall Street analysts forecast GRDN stock price to fall
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 41.380
Low
34.00
Averages
34.50
High
35.00
Current: 41.380
Low
34.00
Averages
34.50
High
35.00
About GRDN
Guardian Pharmacy Services, Inc. is a pharmacy services company. The Company provides a range of technology-enabled services designed to help residents of long-term care facilities (LTCFs) adhere to drug regimen. It offers compliance packaging service for repackaging and dispensing prescription and non-prescription pharmaceuticals in accordance with physician orders and delivers the medications to LTCFs for administration to individual residents. It organizes each resident’s medications into individual unit dose or multi-unit dose packaging in accordance with specific drug distribution rounds that occur at LTCFs at specific times throughout the day. Its pharmacy workflow software helps to manage and track drug dispensing via a structured and scalable workflow process, including the use of barcode technology. It offers Guardian Compass, which includes dashboards created to help local pharmacies plan, track and optimize business operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Guardian Pharmacy Acquires Wellness Concepts to Expand Virginia Presence
- Market Expansion: Guardian Pharmacy Services' acquisition of Wellness Concepts in Grottoes, Virginia, increases its pharmacy count in the state to three locations, including Gainesville and Wytheville, thereby enhancing its competitive position in the growing long-term care pharmacy services market.
- Brand Integration: Founded in 1999, Wellness Concepts has built a strong reputation in the Shenandoah Valley for high-quality pharmacy services, and will continue to be led by experienced President Brent Atwell post-acquisition, ensuring continuity in service quality and customer relationships.
- Operational Model Optimization: The acquisition allows Wellness Concepts to benefit from Guardian's unique business model, which combines local pharmacy leadership with centralized corporate support, ensuring local teams can focus on customer service while receiving assistance with complex business functions like data analytics and HR.
- Customer Relationship Enhancement: Atwell emphasized that Guardian's support enables a focus on local customer relationships while leveraging national LTC pharmacy resources and technology, further improving service quality and operational efficiency.
See More
Guardian Pharmacy Shares Surge 8.8% on Strong Investor Sentiment
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- Earnings Expectations: The upcoming quarterly earnings are projected at $0.26 per share, reflecting a 13% year-over-year increase, although revenues are expected to decline by 1.4% to $339.64 million, indicating potential strength in the stock despite mixed revenue forecasts.
- Analyst Support: Recent price target hikes and continued Buy ratings from analysts have bolstered market confidence, while the raised full-year EBITDA guidance and disciplined acquisition strategy in the long-term care pharmacy market have further fueled buying interest.
- Future Outlook: Despite the consensus EPS estimate remaining unchanged over the past 30 days, GRDN holds a Zacks Rank of #2 (Buy), suggesting strong market confidence in its future performance, prompting investors to monitor whether this recent price jump can sustain momentum.
See More
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- Financial Leadership Transition: David Morris has served as CFO since the company's inception, while Will Mudd, appointed as the new CFO, has been with Guardian since 2012, overseeing critical functions such as financial accounting and human resources.
- Strategic Implications: This leadership transition not only reflects a reassessment of the company's future operational strategy but may also impact financial management and operational efficiency, enhancing overall business performance.
- Market Response: Guardian Pharmacy Services reported a non-GAAP EPS of $0.29 for Q1 2026, beating expectations by $0.05, with revenue of $336.6 million exceeding forecasts by $6.71 million, demonstrating robust financial performance ahead of the executive changes.
See More
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- New COO Appointment: David Morris will assume the role of Chief Operating Officer, previously serving as CFO, and his deep understanding of the business and financial discipline positions him to lead Guardian into its next growth phase, ensuring a seamless transition in leadership functions.
- New CFO Announcement: Will Mudd has been appointed Chief Financial Officer, previously serving as Senior Vice President of Finance since 2012, where he played a critical role in financial accounting and reporting, ensuring the robustness of the finance organization during the company's transition to a public entity.
- Leadership Depth: These executive changes highlight Guardian's disciplined approach to succession planning and its commitment to developing and advancing internal talent, which is crucial for supporting the company's ongoing growth.
See More
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- Strong Earnings Performance: Guardian Pharmacy Services reported a Q1 non-GAAP EPS of $0.29, beating expectations by $0.05, which reflects the company's robust profitability and boosts investor confidence.
- Significant Revenue Growth: The company achieved Q1 revenue of $336.6 million, exceeding forecasts by $6.71 million, indicating its competitive strength and sustained customer demand, further solidifying its market position.
- Net Income and Adjusted EBITDA: Q1 net income stood at $13.5 million with adjusted EBITDA at $29.8 million, demonstrating positive progress in cost control and operational efficiency, which supports sustainable growth moving forward.
- Optimistic Outlook: The company raised its annual adjusted EBITDA forecast midpoint to $125 million from $122 million while maintaining its revenue outlook midpoint at $1.41 billion, reflecting management's confidence in future performance and recognition of market potential.
See More
Guardian Pharmacy Services Reports Q1 2026 Earnings Amid IRA Challenges
- Revenue Growth: Guardian Pharmacy Services reported Q1 2026 revenue of $336.6 million, reflecting a 2% year-over-year increase despite a significant 60% decline in pricing for branded drugs under the IRA framework, demonstrating resilience in challenging conditions.
- Adjusted EBITDA Guidance Increase: Management raised full-year adjusted EBITDA guidance to $123 million to $127 million, incorporating a $3 million benefit recognized in Q1, indicating strong profitability amid new policy challenges.
- Increase in Resident and Script Volumes: The company reported a 10% year-over-year increase in total residents to approximately 207,000 and a similar 10% rise in script volumes, highlighting robust market demand and effective expansion of its customer base.
- Capital Markets Activity: The company executed an offering of 6.9 million Class A shares priced at $31 each during the quarter, although it currently has no plans to utilize the newly filed shelf registration, reflecting a cautious approach to capital management.
See More
Guardian Pharmacy Acquires Wellness Concepts to Expand Virginia Presence
- Market Expansion: Guardian Pharmacy Services' acquisition of Wellness Concepts in Grottoes, Virginia, increases its pharmacy count in the state to three locations, including Gainesville and Wytheville, thereby enhancing its competitive position in the growing long-term care pharmacy services market.
- Brand Integration: Founded in 1999, Wellness Concepts has built a strong reputation in the Shenandoah Valley for high-quality pharmacy services, and will continue to be led by experienced President Brent Atwell post-acquisition, ensuring continuity in service quality and customer relationships.
- Operational Model Optimization: The acquisition allows Wellness Concepts to benefit from Guardian's unique business model, which combines local pharmacy leadership with centralized corporate support, ensuring local teams can focus on customer service while receiving assistance with complex business functions like data analytics and HR.
- Customer Relationship Enhancement: Atwell emphasized that Guardian's support enables a focus on local customer relationships while leveraging national LTC pharmacy resources and technology, further improving service quality and operational efficiency.
See More
Guardian Pharmacy Shares Surge 8.8% on Strong Investor Sentiment
- Stock Price Surge: Guardian Pharmacy Services (GRDN) shares rose 8.8% to $42.31 in the last trading session, with significantly higher trading volume indicating strong investor optimism regarding the company's robust growth outlook.
- Earnings Expectations: The upcoming quarterly earnings are projected at $0.26 per share, reflecting a 13% year-over-year increase, although revenues are expected to decline by 1.4% to $339.64 million, indicating potential strength in the stock despite mixed revenue forecasts.
- Analyst Support: Recent price target hikes and continued Buy ratings from analysts have bolstered market confidence, while the raised full-year EBITDA guidance and disciplined acquisition strategy in the long-term care pharmacy market have further fueled buying interest.
- Future Outlook: Despite the consensus EPS estimate remaining unchanged over the past 30 days, GRDN holds a Zacks Rank of #2 (Buy), suggesting strong market confidence in its future performance, prompting investors to monitor whether this recent price jump can sustain momentum.
See More
Guardian Pharmacy Services Announces Executive Leadership Changes
- Executive Changes: Guardian Pharmacy Services announced executive leadership changes effective July 1, 2026, with current CFO David Morris transitioning to COO, indicating a significant shift in the company's leadership structure.
- Financial Leadership Transition: David Morris has served as CFO since the company's inception, while Will Mudd, appointed as the new CFO, has been with Guardian since 2012, overseeing critical functions such as financial accounting and human resources.
- Strategic Implications: This leadership transition not only reflects a reassessment of the company's future operational strategy but may also impact financial management and operational efficiency, enhancing overall business performance.
- Market Response: Guardian Pharmacy Services reported a non-GAAP EPS of $0.29 for Q1 2026, beating expectations by $0.05, with revenue of $336.6 million exceeding forecasts by $6.71 million, demonstrating robust financial performance ahead of the executive changes.
See More
Guardian Announces Executive Leadership Changes with Forbes Retirement
- Executive Retirement: Guardian's Executive Vice President of Sales & Operations, Kendall Forbes, will retire on July 1, 2026, after 22 years, having significantly contributed to building the company's sales and operations foundation, which has lasting implications for its future.
- New COO Appointment: David Morris will assume the role of Chief Operating Officer, previously serving as CFO, and his deep understanding of the business and financial discipline positions him to lead Guardian into its next growth phase, ensuring a seamless transition in leadership functions.
- New CFO Announcement: Will Mudd has been appointed Chief Financial Officer, previously serving as Senior Vice President of Finance since 2012, where he played a critical role in financial accounting and reporting, ensuring the robustness of the finance organization during the company's transition to a public entity.
- Leadership Depth: These executive changes highlight Guardian's disciplined approach to succession planning and its commitment to developing and advancing internal talent, which is crucial for supporting the company's ongoing growth.
See More
Guardian Pharmacy Q1 Earnings Beat Expectations
- Strong Earnings Performance: Guardian Pharmacy Services reported a Q1 non-GAAP EPS of $0.29, beating expectations by $0.05, which reflects the company's robust profitability and boosts investor confidence.
- Significant Revenue Growth: The company achieved Q1 revenue of $336.6 million, exceeding forecasts by $6.71 million, indicating its competitive strength and sustained customer demand, further solidifying its market position.
- Net Income and Adjusted EBITDA: Q1 net income stood at $13.5 million with adjusted EBITDA at $29.8 million, demonstrating positive progress in cost control and operational efficiency, which supports sustainable growth moving forward.
- Optimistic Outlook: The company raised its annual adjusted EBITDA forecast midpoint to $125 million from $122 million while maintaining its revenue outlook midpoint at $1.41 billion, reflecting management's confidence in future performance and recognition of market potential.
See More
Guardian Pharmacy Services Reports Q1 2026 Earnings Amid IRA Challenges
- Revenue Growth: Guardian Pharmacy Services reported Q1 2026 revenue of $336.6 million, reflecting a 2% year-over-year increase despite a significant 60% decline in pricing for branded drugs under the IRA framework, demonstrating resilience in challenging conditions.
- Adjusted EBITDA Guidance Increase: Management raised full-year adjusted EBITDA guidance to $123 million to $127 million, incorporating a $3 million benefit recognized in Q1, indicating strong profitability amid new policy challenges.
- Increase in Resident and Script Volumes: The company reported a 10% year-over-year increase in total residents to approximately 207,000 and a similar 10% rise in script volumes, highlighting robust market demand and effective expansion of its customer base.
- Capital Markets Activity: The company executed an offering of 6.9 million Class A shares priced at $31 each during the quarter, although it currently has no plans to utilize the newly filed shelf registration, reflecting a cautious approach to capital management.
See More
