McKesson's (MCK) Q1 Earnings Beat Estimates, Sales Improve Y/Y
Headquartered in San Francisco, California, McKesson Corporation MCK 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 2019 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:
McKesson Corporation Price and EPS Surprise
McKesson Corporation Price and EPS Surprise | McKesson Corporation Quote
Earnings: McKesson’s adjusted earnings of $2.90 per share came above the Zacks Consensus Estimate of $2.89 and increased 17.9% from the year-ago quarter.
Revenues: McKesson posted sales of $52.61 billion, a bit lower than the Zacks Consensus Estimate for revenues of $53.04 billion. This was up by 3% on a year-over-year basis.
Key Stats: U.S. Pharmaceutical and Specialty Solutions revenues were $41 billion for the quarter, up 2% year over year.
European Pharmaceutical Solutions revenues were $6.9 billion for the quarter, up 9% on a reported basis and 1% at constant currency (cc).
Medical-Surgical Solutions revenues were $1.7 billion for the quarter, up 11% year over year.
Major Factors: McKesson expects adjusted earnings per share of $13.00-$13.80 for fiscal 2019.
Stock Price: 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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