McKesson Corp. (MCK) Tops Q1 EPS by 13c; Boosts FY14 EPS Outlook
Get Alerts MCK Hot Sheet
Revenue Growth %: +15.4%
Financial Fact:
Other Income, Net: 23M
Today's EPS Names:
FRSB, DGICA, UXIN, More
Join SI Premium – FREE
McKesson Corp. (NYSE: MCK) reported Q1 EPS of $2.49, $0.13 better than the analyst estimate of $2.36. Revenue for the quarter came in at $44.06 billion versus the consensus estimate of $40.65 billion.
Segment Results
Distribution Solutions revenues were $43.3 billion, up 38% for the quarter on a constant currency basis, mainly driven by the contribution from our acquisition of Celesio and market growth.
North America pharmaceutical distribution and services revenues, which include results from U.S. Pharmaceutical, McKesson Canada and McKesson Specialty Health, were up 15% for the quarter on a constant currency basis, primarily reflecting market growth and our mix of business.
International pharmaceutical distribution and services revenues were $7.6 billion, an increase of 3% on the underlying results of Celesio, as reported, on a constant currency basis.
Medical-Surgical distribution and services revenues were up 2% for the quarter, driven by market growth.
In the first quarter, Distribution Solutions GAAP operating profit was $748 million and GAAP operating margin was 1.73%. First-quarter adjusted operating profit was $1 billion, up 44% from the prior year, driven by the acquisition of Celesio and strong results in our North America pharmaceutical distribution and services business. Adjusted operating margin for the Distribution Solutions segment was 2.32%.
Technology Solutions revenues were down 8% in the first quarter driven by anticipated revenue softness from the Horizon clinical software platform, and the planned elimination of a product line, partially offset by growth in other technology businesses. GAAP operating profit was $68 million for the first quarter and GAAP operating margin was 8.85%. Adjusted operating profit was $80 million for the first quarter and adjusted operating margin was 10.42%. Technology Solutions first quarter results reflect the reclassification of a portion of our International Technology business from discontinued operations to continuing operations, including an associated pre-tax charge of $34 million, or 11 cents per diluted share.
McKesson Corp. sees FY2014 EPS of $10.50 - $10.90, versus the consensus of $10.66.
For earnings history and earnings-related data on McKesson Corp. (MCK) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gilead Sciences (GILD) Misses Q1 EPS by 288c
- The First Of Long Island (FLIC) Misses Q1 EPS by 3c
- PTC Therapeutics (PTCT) Tops Q1 EPS by 9c, provides guidance
Create E-mail Alert Related Categories
Earnings, Guidance, Hot Earnings, Hot GuidanceRelated Entities
Earnings, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!