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Dec 31, 2025
McKesson Q3 2026 Earnings Report
McKesson Corporation reported strong third quarter results for fiscal year 2026, with significant increases in revenues, earnings per diluted share, and adjusted earnings per diluted share.
Key Takeaways
McKesson Corporation delivered a strong third quarter for fiscal year 2026, with consolidated revenues increasing by 11% to $106.2 billion. Earnings per diluted share rose by $2.64 to $9.59, and adjusted earnings per diluted share increased by 16% to $9.34. The company also generated $1.2 billion in cash flow from operations and raised its full-year adjusted EPS guidance.
Quarterly consolidated revenues increased by 11% to $106.2 billion.
Earnings per diluted share rose by $2.64 to $9.59.
Adjusted Earnings per Diluted Share increased by 16% to $9.34.
McKesson generated $1.2 billion of cash flow from operations and $1.1 billion of Free Cash Flow.
Revenue by Segment
Forward Guidance
McKesson is raising and narrowing its fiscal 2026 Adjusted Earnings per Diluted Share guidance range to $38.80 to $39.20, from the previous range of $38.35 to $38.85. This new range indicates 17% to 19% growth compared to the prior year.
Positive Outlook
- Raised and narrowed Adjusted Earnings per Diluted Share guidance range to $38.80 to $39.20.
- New guidance range indicates 17% to 19% growth compared to the prior year.
- Strong third quarter performance and operating momentum contribute to the raised outlook.
- Adjusted Earnings per Diluted Share guidance includes $0.09 related to year-to-date gains from McKesson Ventures' equity investments.
- Continued focus on advancing a strategy to deliver sustainable growth and long-term value creation.
Challenges Ahead
- The company does not forecast GAAP earnings per diluted share due to inherent uncertainties.
- McKesson cannot reasonably forecast LIFO inventory-related adjustments.
- Certain litigation loss and gain contingencies are difficult to predict and estimate.
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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