McKesson: Fiscal 1Q Earnings Snapshot
Posted Aug 3, 2020 08:13:59 AM.
Last Updated Aug 3, 2020 08:24:21 AM.
IRVING, Texas (AP) _ McKesson Corp. (MCK) on Monday reported fiscal first-quarter net income of $444 million.
On a per-share basis, the Irving, Texas-based company said it had profit of $2.72. Earnings, adjusted for one-time gains and costs, came to $2.77 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.
The prescription drug distributor posted revenue of $55.68 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $54.05 billion.
McKesson expects full-year earnings in the range of $14.70 to $15.50 per share.
McKesson shares have climbed almost 9% since the beginning of the year, while the Standard & Poor’s 500 index has risen 1%. The stock has increased slightly more than 1% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCK at https://www.zacks.com/ap/MCK
The Associated Press
