McKesson (MCK) Tops Q4 EPS by 42c; Revises Outlook

McKesson (NYSE: MCK) reported Q4 EPS of $3.42, $0.42 better than the analyst estimate of $3.00. Revenue for the quarter came in at $48.7 billion versus the consensus estimate of $49.48 billion.

Revised Adjusted Earnings Definition and Fiscal Year 2018 Outlook

McKesson is revising its definition of Adjusted Earnings to closely align with management’s view of the company’s operating performance and portfolio of businesses. Please refer to the second 8-K filed today with the Securities and Exchange Commission for the full description of each item included in our revised Adjusted Earnings definition, as well as a recast of Fiscal 2017 results.

On this revised basis, the company’s recast Fiscal 2017 Adjusted Earnings was $12.54 per diluted share. For the fiscal year ending March 31, 2018, McKesson expects GAAP earnings per diluted share of $7.10 to $8.80 and Adjusted Earnings per diluted share of $11.75 to $12.45. “Our Fiscal 2018 outlook incorporates headwinds related to the lapping effect of the competitive customer pricing environment and branded pharmaceutical manufacturer pricing trends, partially offset by our capital deployment efforts and solid growth across our businesses,” concluded Hammergren.

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

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