McKesson Earnings: Here’s Why Investors Like These Results
McKesson Corporation (NYSE:MCK) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.54%.
McKesson Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 30.62% to $1.45 in the quarter versus EPS of $2.09 in the year-earlier quarter.
Revenue: Decreased 3.4% to $30.62 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: McKesson Corporation reported adjusted EPS income of $1.45 per share. By that measure, the company missed the mean analyst estimate of $2.30. It missed the average revenue estimate of $32.01 billion.
Quoting Management: “We took important strategic and operational actions during the quarter and while these actions impacted our fourth quarter financial results, I believe they leave the Company well positioned for continued success going forward,” said John H. Hammergren, chairman and chief executive officer. “Turning to our operating results, I am pleased with the strong performance of our Distribution Solutions segment in the fourth quarter, which capped off another outstanding year in the segment. In addition to the strong operating performance in our Distribution Solutions segment, we had another great year of cash flow performance and deployed a record level of capital for acquisitions and share repurchases, creating further value for our shareholders.”
Key Stats (on next page)…