MCK McKesson Corporation

By Micah Maidenberg

McKesson Corp. boosted its profit forecast for its current fiscal year, saying volumes were improving after earlier challenges due to the Covid-19 pandemic.

The drugs and medical supplies distributor on Monday said it now expects to earn a profit of $14.70 to $15.50 a share on an adjusted basis for its 2021 fiscal year, up from an earlier outlook of $13.95 to $14.75 a share.

"McKesson delivered first-quarter results ahead of our original expectations, as volumes across the business improved earlier than anticipated," Chief Executive Brian Tyler said.

The company's fiscal 2021 first quarter ended June 30.

McKesson anticipates it will expand adjusted earnings per share in the second half of its fiscal year. That earning metric fell in the fiscal first quarter.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

August 03, 2020 07:40 ET (11:40 GMT)

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