McKesson Reports Higher 1Q Revenue, Raises Full-Year Adjusted Profit Outlook
July 31 2019 - 4:49PM
Dow Jones News
By Aisha Al-Muslim
McKesson Corp.'s (MCK) revenue rose and it recorded a profit in
the latest quarter as the pharmaceutical supplier experienced
market growth across its businesses.
The Irving, Texas-based company reported Wednesday a profit for
the first quarter of $423 million, or $2.24 a share, compared with
a loss of $138 million, or 68 cents a share, a year earlier.
Excluding one-time items, adjusted earnings were $3.31 a share,
above the $3.03 a share analysts polled by FactSet were looking
for.
Revenue rose 6% to $55.7 billion, above the consensus forecast
of $54.02 billion.
For fiscal 2020, the company now expects adjusted earnings per
share of $14.00 to $14.60, compared with prior forecast of $13.85
to $14.45 a share.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
July 31, 2019 16:34 ET (20:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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