McKesson (NYSE: MCK) reported Q1 EPS of $2.46, $0.37 worse than the analyst estimate of $2.83. Revenue for the quarter came in at $51.1 billion versus the consensus estimate of $51.23 billion.

“McKesson's first-quarter operating results were consistent with our expectations,” said John H. Hammergren, chairman and chief executive officer. “We’re off to a solid start to the year and are raising our previous Fiscal 2018 Adjusted Earnings outlook to a range of $11.80 to $12.50 per diluted share. In addition, we generated strong first-quarter cash flows, which allowed us to allocate capital in line with our portfolio approach to capital deployment.”

GUIDANCE:

McKesson sees FY2018 EPS of $11.80-$12.50, versus the consensus of $12.11.

Highlights

Revenues of $51.1 billion for the first quarter, up 3% year-over-year.
First-quarter GAAP earnings per diluted share from continuing operations of $1.44, down 50% year-over-year.
First-quarter Adjusted Earnings per diluted share of $2.46, down 22% year-over-year.
Raised Fiscal 2018 Outlook: GAAP earnings per diluted share from continuing operations of $7.10 to $9.00.
Raised Fiscal 2018 Outlook: Adjusted Earnings of $11.80 to $12.50 per diluted share.
Board of Directors approved raising the quarterly dividend by 21% from 28 cents to 34 cents per share.

For earnings history and earnings-related data on McKesson (MCK) click here.