McKesson Lifts FY21 Adjusted Profit Forecast As Volumes Look Better
August 03 2020 - 7:55AM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
McKesson (NYSE:MCK)
Historical Stock Chart
From Aug 2024 to Sep 2024
McKesson (NYSE:MCK)
Historical Stock Chart
From Sep 2023 to Sep 2024