McKesson (NYSE: MCK) reported Q4 EPS of $4.27, $0.19 better than the analyst estimate of $4.08. Revenue for the quarter came in at $58.5 billion versus the consensus estimate of $55.58 billion.

• Total revenues of $58.5 billion, reflecting 12% growth.
• Earnings per diluted share increased by $9.99 to $5.82.
• Adjusted Earnings per diluted share of $4.27, an increase of 16%.

“McKesson delivered a strong finish to fiscal 2020, reflecting continued momentum in the business and meaningful progress in our transformation towards becoming a more focused organization as we look to capture future growth opportunities,” said Brian Tyler, chief executive offer. “During fiscal 2020, we achieved adjusted operating profit growth in all three operating segments, generated $3.9 billion of free cash flow, and successfully completed the exit of our investment in Change Healthcare.”

“As we enter fiscal 2021, McKesson is leveraging our expertise, leadership and scale to play a critical role in the fight against the COVID-19 pandemic,” Mr. Tyler continued. “We continue to remain focused on supporting our people, our customers and our communities during this challenging time. I want to thank caregivers worldwide for their heroic efforts and acknowledge the entire McKesson team, particularly our frontline workers, for their extraordinary dedication. Despite the uncertainties in the near-term macro environment, we remain confident in the resiliency of our business model and committed to creating long-term shareholder value.”

GUIDANCE:

McKesson sees FY2021 EPS of $13.95-$14.75, versus the consensus of $15.46.

Fiscal 2021 Outlook:

• Adjusted Earnings per diluted share guidance range of $13.95 to $14.75.
• Fiscal 2021 guidance reflects impacts from the COVID-19 pandemic and investments.
• McKesson expects Adjusted Earnings per diluted share growth in the second half of fiscal 2021.
• Long-term fundamentals remain solid; continuing to execute strategic growth initiatives.

McKesson expects full-year fiscal 2021 Adjusted Earnings per diluted share of $13.95 to $14.75, which reflects anticipated headwinds in fiscal 2021 as a result of the COVID-19 pandemic and a continuation of disciplined, efficient capital deployment, including investments in the business. McKesson expects Adjusted Earnings per diluted share growth in the second half of fiscal 2021.

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