McKesson (MCK) Tops Q1 EPS by 48c, Revenues Beat; Raises FY20 EPS Guidance Above Consensus
McKesson (NYSE: MCK) reported Q1 EPS of $2.77, $0.48 better than the analyst estimate of $2.29. Revenue for the quarter came in at $55.7 billion versus the consensus estimate of $53.99 billion.
First-Quarter Highlights, Year-over-Year:
- Total revenues of $55.7 billion, flat year-over-year.
- Earnings per diluted share increased 20% to $2.72.
- Adjusted Earnings per diluted share decreased 16% to $2.77.
- Board of Directors increased the quarterly dividend to 42 cents per share.
“I am proud of the dedication and discipline of McKesson’s employees as we navigate the complexities and uncertainties of the COVID-19 pandemic while continuing to serve our customers and our communities” said Brian Tyler, chief executive officer. “Thanks to the strong execution of our employees around the world, McKesson delivered first-quarter results ahead of our original expectations, as volumes across the business improved earlier than anticipated. Based on our first-quarter performance and current outlook for the remainder of the year, we are raising our previous guidance range for fiscal 2021 and now expect Adjusted Earnings per diluted share of $14.70 to $15.50”.
GUIDANCE:
McKesson sees FY2021 EPS of $14.70-$15.50, versus the consensus of $14.41.
- Increased fiscal 2021 Adjusted Earnings per diluted share guidance range to $14.70 to $15.50, from the previous range of $13.95 to $14.75.
- McKesson continues to expect Adjusted Earnings per diluted share growth in the second half of fiscal 2021.
For earnings history and earnings-related data on McKesson (MCK) click here.