McKesson Q3 2023 Earnings Report
Key Takeaways
McKesson Corporation reported a 3% increase in total revenues to $70.5 billion for the third quarter of fiscal year 2023. Earnings per diluted share from continuing operations increased by $7.69 to $7.65, while Adjusted Earnings per Diluted Share increased by 12% to $6.90. The company also raised its fiscal 2023 Adjusted Earnings per Diluted Share guidance to a range of $25.75 to $26.15.
Total revenues increased 3% to $70.5 billion.
Earnings per diluted share from continuing operations increased $7.69 to $7.65.
Adjusted Earnings per Diluted Share increased 12% to $6.90.
Fiscal 2023 Adjusted Earnings per Diluted Share guidance raised to $25.75 to $26.15.
McKesson
McKesson
McKesson Revenue by Segment
Forward Guidance
McKesson raised fiscal 2023 Adjusted Earnings per Diluted Share guidance to $25.75 to $26.15 from the previous range of $24.45 to $24.95 to reflect solid operating business performance.
Positive Outlook
- U.S. government’s COVID-19 vaccine distribution program: $0.70 to $0.80
- U.S. government’s kitting, storage, and distribution of ancillary supplies program and COVID-19 tests: $1.10 to $1.20
- Approximately ($0.15) related to year-to-date net gains and losses associated with McKesson Ventures’ equity investments
- $0.65 related to the termination of the tax receivable agreement with Change Healthcare
- Fiscal 2023 Adjusted Earnings per Diluted Share Excluding Certain Items guidance indicates 13% to 16% forecasted growth compared to prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income