McKesson Assumes No Second Wave of Covid-19 Cases In Planning for Fiscal Year
May 20 2020 - 8:45AM
Dow Jones News
By Micah Maidenberg
McKesson Corp., a distributor of pharmaceuticals and medical
supplies, said it built its financial forecast for fiscal 2021
under the assumption that a second wave of Covid-19 cases won't
materialize.
The company said Wednesday in an investor presentation that its
outlook for its 2021 reporting year assumes there won't be another
rise in cases of the disease caused by the coronavirus that would
lead "to shelter at home scenarios precluding patient consumption
of healthcare services, supplies and pharmaceutical products."
The spread of the coronavirus in the U.S. kept consumers at
home, putting pressure on patient visits to doctors and
prescription growth, according to some companies that tie their
business to prescriptions.
"We assume physician, specialty provider and oncology visits,
and pharmacy interactions will gradually begin to resume in Q2
FY21, and continue to improve in the back-half of the fiscal year,"
McKesson said on Wednesday.
Overall, it expects adjusted earnings per share of no more than
$14.75, which would be down from $14.95 a share for the year ended
March 31. The company also sees slower revenue growth of 2% to 4%
for the year, down from 8%.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
May 20, 2020 08:30 ET (12:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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