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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 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.
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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McKesson (MCK) Beats on Earnings and Sales in Q3
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 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!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>