McKesson crushes estimates

Investor's Business Daily

Shares of drug, health product and medical supply distributor McKesson (MCK) rose 0.3% to 191.86, an all-time high, after it trounced earnings estimates. EPS minus items for fiscal Q1 rose 20% to $2.49, beating by 16 cents. Revenue surged 37% to $44.1 bil vs. projections for $40.7 bil. Revenue growth came on strong demand coupled with its acquisition of a majority share in pharma logistics provider Celesio in Feb. McKesson sees full-year EPS of $10.50-$10.90, above forecasts for $10.66.

View Comments (0)