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Jun 30, 2022
McKesson Q1 2023 Earnings Report
Reported a solid start to fiscal year 2023 with revenue increase and raised adjusted earnings per diluted share guidance.
Key Takeaways
McKesson Corporation reported a 7% increase in total revenues to $67.2 billion and a 5% increase in Adjusted Earnings per Diluted Share to $5.83. The company raised its fiscal 2023 Adjusted Earnings per Diluted Share guidance to $23.95 to $24.65.
Total revenues increased by 7% to $67.2 billion.
Earnings per diluted share from continuing operations increased by $2.16 to $5.25.
Adjusted Earnings per Diluted Share increased by 5% to $5.83.
Fiscal 2023 Adjusted Earnings per Diluted Share guidance increased to $23.95 to $24.65.
McKesson
McKesson
McKesson Revenue by Segment
Revenue by Segment
U.S. Pharmaceutical Revenue
CapyFin.comPrescription Technology Solutions Revenue
CapyFin.comMedical-Surgical Solutions Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
McKesson raised fiscal 2023 Adjusted Earnings per Diluted Share guidance to $23.95 to $24.65 to reflect first-quarter operating performance and increased contribution from the U.S. government's COVID-19 vaccine distribution, kitting, and storage programs and COVID-19 tests.
Positive Outlook
- $0.35 to $0.45 related to the U.S. government’s COVID-19 vaccine distribution program
- $0.75 to $0.95 related to the U.S. government’s kitting, storage, and distribution of ancillary supplies program and COVID-19 tests
- Fiscal 2023 Adjusted Earnings per Diluted Share guidance continues to assume approximately $3.5 billion of share repurchases.
- The vaccine distribution contract has been extended through July 2023
- The kitting, storage, and distribution of ancillary supplies contract has been extended through January 2023.
Challenges Ahead
- ($0.11) related to year-to-date net gains and losses associated with McKesson Ventures’ equity investments
- lower revenues in the International segment as a result of the planned progress with McKesson's divestiture of its European businesses
- higher tax rate and lower contribution from COVID-19 vaccine distribution, kitting, and storage programs with the U.S. government.
- the divestitures of McKesson’s Austrian and UK businesses
- lower sales of COVID-19 tests and lower contribution from kitting, storage, and distribution of ancillary supplies for the U.S. government's COVID-19 vaccine program
Revenue & Expenses
Visualization of income flow from segment revenue to net income