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McKesson's (MCK) Q4 Earnings Miss Estimates, Sales Improve Y/Y

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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 fourth 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 $3.49 per share came below the Zacks Consensus Estimate of $3.54 but increased 2% from the year-ago quarter.

Revenues: McKesson posted sales of $51.62 billion, in line with the Zacks Consensus Estimate for revenues of $51.64 billion. This was up by 3.7% on a year-over-year basis.

Key Stats: The Distribution Solutions segment reported revenues worth $51.6 billion for the quarter, up 5% at constant currency (cc).

Notably, the Technology Solutions segment of the company did not report revenues in the quarter under review.

Major Factors: McKesson expects adjusted earnings per share of $13.00-$13.80 for fiscal 2019.

The guidance range assumes a full-year adjusted tax rate of approximately 21% to 23%, which may vary from quarter to quarter.

Stock Price: Shares have declined 9% in a year’s time, while the industry has gained 7.1% 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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