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Jun 30, 2025
McKesson Q1 2026 Earnings Report
McKesson delivered solid first quarter performance with strong revenue growth and improved adjusted earnings
Key Takeaways
In Q1-26, McKesson reported GAAP revenues of $97.8 billion and GAAP EPS of $6.25, while adjusted EPS rose 5% to $8.26. Net income attributable to McKesson declined 14% to $784 million. All segments delivered year-over-year revenue growth, and the company raised its fiscal 2026 adjusted EPS outlook.
GAAP revenue increased 23% year-over-year to $97.8 billion
GAAP EPS was $6.25; adjusted EPS rose 5% to $8.26
Net income attributable to McKesson Corporation was $784 million, down 14%
Adjusted segment operating profit grew across all segments, led by U.S. Pharmaceutical
Revenue by Segment
Forward Guidance
For fiscal 2026, McKesson expects GAAP revenue growth of 11%–15%, operating profit growth of 9%–13%, and adjusted EPS of $37.10–$37.90, representing 12%–15% growth. The company plans approximately $2.5 billion in share repurchases and a 15% higher quarterly dividend.
Positive Outlook
- GAAP revenues growth of 11%–15%
- Operating profit growth of 9%–13%
- Adjusted EPS range of $37.10–$37.90 (12%–15% growth)
- Approximately $2.5 billion in share repurchases planned
- 15% increase to the quarterly dividend declared
Challenges Ahead
- No GAAP forward-looking guidance provided due to unpredictability of adjustments
- LIFO inventory-related adjustments cannot be reasonably forecast
- Certain litigation loss and gain contingencies are difficult to estimate
- Restructuring, impairment and related charges could vary materially
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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