Headquartered in San Francisco, California, McKesson Corporation (MCK - Free Report) 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 first 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 $2.46 per share missed the Zacks Consensus Estimate of $2.81 and decreased from $3.15 in the year-ago quarter.
Revenues: McKesson posted sales of $51.05 billion, marginally missing the Zacks Consensus Estimate for revenues of $51.17 billion. This was up from $49.73 billion last year.
Key Stats: Distribution Solutions sales increased 5% at cc, while Technology Solutions decreased 83% from the year-ago quarter.
Major Factors: Performance was affected due to lower profits owing to increased price competition in pharmacy business and weaker pharmaceutical manufacturer pricing trends in U.S. Lower profit in Technology Solutions segment was driven primarily by the contribution of the majority of the businesses to Change Healthcare JV.
McKesson expects GAAP earnings per diluted share between $7.10 to $9.00 for the fiscal year ending Mar 31, 2018. Adjusted Earnings for the same are expected in the range of $11.80 to $12.50 per diluted share.
Check back later for our full write up on this McKesson report later!
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