MCK Stock Price | McKesson Corp. Stock Quote (U.S.: NYSE)


McKesson matches profit expectations, but sales rise well above forecasts

McKesson Corp. reported Wednesday a fiscal second-quarter profit that matched expectations while revenue rose well above expectations, amid strength in its U.S. pharmaceutical and specialty solutions business. The stock was still inactive in premarket trading. For the quarter to Sept. 30, the health care and drug company swung to net loss of $730 million, or $3.99 a share, from income of $499 million, or $2.52 a share, in the year-ago period. Excluding non-recurring items, such as a $1.4 billion charge related to an impairment with the planned exit of its investment in Change Healthcare, adjusted EPS came to $3.60, which matched the FactSet consensus. Revenue rose 9% to $57.62 billion, above the FactSet consensus of $55.08 billion. U.S. pharmaceutical and specialty solutions revenue grew 10% to $46.0 billion, primarily because of price increases in branded pharmaceuticals and increased specialty pharmaceutical volume. European pharmaceutical revenue fell 1% to $6.6 billion and medical-surgical revenue increased 6% to $2.1 billion. The company affirmed its fiscal 2020 adjusted EPS guidance range of $14.00 to $14.60, which surrounds the FactSet consensus of $14.38. The stock has rallied 35.2% year to date, while the SPDR Health Care Select Sector ETF has advanced 9.0% and the S&P 500 has gained 21.1%.

2020-01-10 16:24:15

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