McKesson Q1 2024 Earnings Report
Key Takeaways
McKesson Corporation reported strong first-quarter results for fiscal year 2024, with an 11% increase in total revenues, a significant rise in earnings per diluted share, and a raised guidance range for fiscal 2024 Adjusted Earnings per Diluted Share.
Total revenues increased by 11% to $74.5 billion.
Earnings per diluted share from continuing operations rose to $7.02, an increase of $1.77.
Adjusted Earnings per Diluted Share increased by 25% to $7.27.
The Board of Directors approved a $6.0 billion increase to the share repurchase program and a 15% increase to the quarterly dividend.
McKesson
McKesson
McKesson Revenue by Segment
Forward Guidance
McKesson is raising its fiscal 2024 Adjusted Earnings per Diluted Share guidance to $26.55 to $27.35, reflecting strong first-quarter performance and outlook in the North American businesses.
Positive Outlook
- Strong first quarter performance.
- Positive outlook in the North American businesses.
- Increased fiscal 2024 Adjusted Earnings per Diluted Share guidance range.
- Guidance reflects strong performance.
- Company is confident in ability to deliver sustainable growth
Challenges Ahead
- Fiscal 2024 Adjusted Earnings per Diluted Share guidance includes ($0.04) related to year-to-date losses associated with McKesson Ventures' equity investments.
- Company does not forecast GAAP earnings per diluted share from continuing operations.
- Company cannot reliably forecast LIFO inventory-related adjustments.
- Company cannot reliably forecast certain litigation loss and gain contingencies.
- Company cannot reliably forecast restructuring, impairment and related charges, and other adjustments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income