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McKesson (MCK) Beats on Earnings and Sales in Q3

Headquartered in San Francisco, California, McKesson Corporation MCK is a global provider of healthcare supply chain management solutions, retail pharmacy, community oncology cum specialty care, and healthcare information technology.

Currently, McKesson has a Zacks Rank #3 (Hold) but that could change following its third quarter fiscal 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:

Earnings: McKesson’s adjusted earnings of $3.41 per share came above the Zacks Consensus Estimate of $2.92 and increased 12.2% from the year-ago quarter.

Revenues: McKesson posted sales of $53.6 billion, beating the Zacks Consensus Estimate for revenues of $52 billion. This was up by 7% on a year-over-year basis.

Key Stats: Distribution Solutions sales increased 7% at cc, while Technology Solutions increased 7% from the year-ago quarter. Acquisition of RxCrossroads was a notable development.

Major Factors:  Organic growth across multiple business units, including the company’s strategic sourcing benefits through ClarusONE, drove Mckesson’s third quarter.

McKesson expects GAAP earnings per diluted share between $7.65 to $9.00 for the fiscal year 2018. Adjusted Earnings for the same are expected in the range of $12.50 to $12.80 per diluted share.

McKesson Corporation Price and EPS Surprise

McKesson Corporation Price and EPS Surprise | McKesson Corporation Quote

Stock Price: Shares have risen roughly 23.3% in the last three months, while the broader industry has gained 15.7% over the same time frame. However, following the earnings release, share prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this McKesson report later!

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