Earnings summaries and quarterly performance for MCKESSON.
Executive leadership at MCKESSON.
Brian Tyler
Detailed
Chief Executive Officer
CEO
BV
Britt Vitalone
Detailed
Executive Vice President and Chief Financial Officer
LS
LeAnn Smith
Detailed
Executive Vice President and Chief Human Resources Officer
ML
Michele Lau
Detailed
Executive Vice President and Chief Legal Officer
TR
Thomas Rodgers
Detailed
Executive Vice President and Chief Strategy and Business Development Officer
Board of directors at MCKESSON.
BL
Bradley Lerman
Detailed
Director
DD
Deborah Dunsire
Detailed
Director
DC
Dominic Caruso
Detailed
Director
DK
Donald Knauss
Detailed
Independent Chair of the Board
JH
James Hinton
Detailed
Director
JG
Julie Gerberding
Detailed
Director
KW
Kathleen Wilson-Thompson
Detailed
Director
KO
Kevin Ozan
Detailed
Director
LD
Lynne Doughtie
Detailed
Director
MM
Maria Martinez
Detailed
Director
RD
Roy Dunbar
Detailed
Director
Research analysts who have asked questions during MCKESSON earnings calls.
CR
Charles Rhyee
TD Cowen
6 questions for MCK
Also covers: AMWL, BTSG, CAH +18 more
Daniel Grosslight
Citigroup
6 questions for MCK
Also covers: AGL, CAH, COR +12 more
Eric Percher
Nephron Research
6 questions for MCK
Also covers: AMWL, CAH, COR +5 more
LG
Lisa Gill
JPMorgan Chase & Co.
6 questions for MCK
Also covers: AGL, CAH, CI +13 more
Allen Lutz
Bank of America
5 questions for MCK
Also covers: ACCD, CAH, COR +14 more
Elizabeth Anderson
Evercore ISI
5 questions for MCK
Also covers: AGL, ALGN, CAH +23 more
EW
Erin Wright
Morgan Stanley
5 questions for MCK
Also covers: ALGN, BTSG, CAH +18 more
George Hill
Deutsche Bank
5 questions for MCK
Also covers: AGL, CAH, CI +16 more
Kevin Caliendo
UBS
5 questions for MCK
Also covers: AHCO, ALGN, AMWL +15 more
Brian Tanquilut
Jefferies
4 questions for MCK
Also covers: ACHC, ADUS, AHCO +29 more
Michael Cherny
Leerink Partners
4 questions for MCK
Also covers: ACCD, ALGN, CAH +18 more
Stephen Baxter
Wells Fargo
3 questions for MCK
Also covers: BTSG, CNC, CVS +6 more
EC
Eric Coldwell
Robert W. Baird & Co.
2 questions for MCK
Also covers: AHCO, CAH, COR +9 more
Stephen Baxter
Wells Fargo & Company
2 questions for MCK
Also covers: AGL, BTSG, CAH +15 more
Steven Valiquette
Mizuho
2 questions for MCK
Also covers: ALGN, CAH, COR +12 more
Recent press releases and 8-K filings for MCK.
Lemongrass completes strategic partnership with SAP
MCK
New Projects/Investments
- Lemongrass completed a strategic partnership with SAP under the PartnerEdge (PE) Build program for its Clean Core AI Accelerator solution.
- The program grants full access to SAP APIs, tools, and services, plus technical enablement, certification opportunities, and go-to-market support.
- Lemongrass achieved SAP Gold Partner status, holds advanced competencies in SAP Cloud ERP Private Edition and BTP, and participates in SAP advisory councils.
- The firm manages over 750,000 SAP users across 20+ countries and serves major brands including McKesson, Cintas, and Heineken.
Dec 9, 2025, 2:00 PM
McKesson raises FY26 guidance after strong Q2 results at Evercore HealthCONx
MCK
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- McKesson delivered 10% Q2 revenue growth, 26% adjusted operating profit increase, and 39% adjusted EPS growth, enabling a further upward revision of its full-year guidance to $38.35–$38.85 per share.
- The company reports continued robust GLP-1 prescription growth; its Rx Technology Solutions business drives prior authorization and affordability services across all major GLP-1 brands.
- First-year earnings accretion from the Prism Vision acquisition is maintained at $0.20–$0.30 (targeting $0.65–$0.75 by year three), underpinning McKesson’s expansion in oncology and vision care platforms.
- McKesson achieved 500 bps of year-over-year operating leverage in Q2 (totaling 1,200 bps over five years) through automation and AI investments in distribution centers, call centers, and clinical tools.
- Full-year tax rate guidance was increased to 18–19% (with Q3 at 23–25%), and a weak illness season was noted as dampening trends in the medical segment.
Dec 4, 2025, 3:00 PM
McKesson raises FY26 guidance and details acquisition contributions
MCK
Guidance Update
M&A
New Projects/Investments
- McKesson reported 10% revenue growth, 26% adjusted operating profit growth and 39% adjusted EPS growth in Q2, driving an upward revision of its full-year guidance.
- The company increased its FY26 adjusted operating income contribution from Prism Vision and Florida Cancer Center to $280–320 million from $220–270 million, with Prism expected to deliver $0.20–0.30 per share accretion in year one.
- McKesson is expanding its oncology and vision platforms—now servicing over 3,300 oncologists (up 119% since 2017)—integrating distribution, GPO, data and clinical trial services to capture a white-space opportunity.
- The planned tax-free separation of its Medical business is on track: carve-out audits are complete, TSAs are in place, and an IPO is targeted for Q2 or H2 FY2027.
Dec 4, 2025, 3:00 PM
McKesson raises fiscal 2026 guidance after strong Q2 performance
MCK
Guidance Update
- McKesson reported 10% revenue growth, 26% adjusted operating profit growth, and 39% adjusted EPS growth in Q2, prompting a full-year EPS guidance raise to $38.35–$38.85 (16–18% growth; ex-venture gain: 18–20% operating profit growth)
- The company emphasized continued GLP-1 volume growth and its strong position in Rx Technology Solutions for prior authorization and affordability services, with capabilities ready for an oral-solid drug transition in 2026
- Prism Vision, acquired in Q1, is on track for $0.20–$0.30 EPS accretion in year one and $0.65–$0.75 by year three, bolstered by the Spokane Eye Clinic addition of 27 providers
- McKesson is investing in AI-powered logistics and automation to improve operational efficiency and margins across its distribution network and RxTS segment
- Seasonality and tax rate updates include a weaker U.S. illness season (impacting medical supplies), a full-year tax rate of 18–19%, Q3 rate of 23–25%, and higher H2 investments in RxTS
Dec 4, 2025, 3:00 PM
McKesson details Pharma margin gains and platform expansion at UBS Healthcare Conference
MCK
Guidance Update
New Projects/Investments
- North American Pharmaceutical margins have strengthened thanks to consistent utilization growth, demographic trends, expanded specialty mix, and technology investments driving sourcing scale and OPEX leverage.
- Operational excellence initiatives, including a newly opened 90%-automated distribution center and early-stage AI deployments, have improved operating expense leverage by over 1,000 basis points in five years.
- The oncology and multispecialty platform now spans 3,350 providers in 27 states with the addition of Florida Cancer Specialists, targeting a $115 billion opportunity (including $80 billion in drug distribution) and expanding clinical trial services via the Sarah Cannon Research Institute.
- McKesson’s Rx Technology Solutions infrastructure—CoverMyMeds, Central Fill as a Service, and Biologics pharmacy—positions it to support any shift toward direct-to-consumer distribution or lower-priced GLP-1 launches, though impact remains uncertain.
- Full-year adjusted EPS guidance of $38.35–$38.85 (16–18% growth; 18–20% excluding Ventures gains) assumes an 18–19% tax rate (Q3 at 23–25%), with H2 lapsing certain 2024 benefits in Canada and a prior strategic customer onboarding.
Nov 10, 2025, 2:30 PM
McKesson highlights segment strategies and automation gains at UBS Healthcare Conference
MCK
Guidance Update
New Projects/Investments
M&A
- North American Pharma margins bolstered by a mix shift toward specialty drugs and “fair value” pricing negotiated with manufacturers, leveraging McKesson’s scale, sourcing capabilities, and service breadth.
- Operational expense leverage improved by over 1,000 basis points in five years through ongoing operational excellence programs and technology investments.
- Automation and AI initiatives include a newly opened 90% automated distribution center in Ohio and a company-wide leadership push to identify further efficiency gains via AI deployment.
- GLP-1 pricing reforms are not expected to materially impact McKesson, as the company earns a fixed service fee regardless of drug price and direct-to-consumer volumes remain modest.
- 2025 adjusted EPS guidance reaffirmed at $38.35–$38.85 (up 16–18%; 18–20% ex-Ventures gains); projected tax rate of 23–25% in Q3 and 18–19% full-year.
Nov 10, 2025, 2:30 PM
McKesson discusses operational and strategic updates at UBS Healthcare Conference 2025
MCK
New Projects/Investments
- North American Pharmaceutical margins strengthened via demographic-driven utilization, increased specialty mix and automation, with operating expense leverage improving over 1,000 bps over five years.
- Automation and AI: opened a 90% automated Ohio distribution center and convening 150 leaders to accelerate AI integration across operations for additional efficiency gains.
- Oncology platform expanded to 3,350 providers in 27 states; McKesson targets a $115 billion total opportunity—$80 billion in drug distribution plus clinical trial and data services.
- New investment focus on high-innovation, high-spend therapeutic areas—prioritizing oncology and retina ophthalmology platforms based on pipeline analysis.
- Prescription solutions (CoverMyMeds, specialty pharmacy) positioned for lower-priced GLP-1 launches with fixed service fees; expects stable or increased volume despite pricing shifts.
Nov 10, 2025, 2:30 PM
McKesson reports Q2 2026 results
MCK
Earnings
Guidance Update
Share Buyback
- Record second-quarter revenue of $103 billion (up 10% YoY) and adjusted EPS of $9.86 (up 39%).
- Strong segment performance: oncology & multi-specialty revenues $12 billion (+32%) with operating profit $397 million (+71%); North American pharmaceuticals revenues $86.5 billion (+8%) with operating profit $851 million (+13%); prescription technology and medical-surgical segments also expanded margins.
- Maintained full-year fiscal 2026 guidance, raising adjusted EPS to $38.35–$38.85, and forecasting free cash flow of $4.4–$4.8 billion alongside $2.5 billion of share repurchases.
- Advanced strategic initiatives: implemented a new reporting structure for growth platforms , enhanced supply-chain automation and Drug Supply Chain Security Act compliance , and set a plan to spin off the medical-surgical business by H2 2027.
Nov 5, 2025, 9:30 PM
McKesson announces Q2 FY26 earnings
MCK
Earnings
Guidance Update
Share Buyback
- McKesson delivered Q2 FY26 revenue of $103.2 billion, up 10% YoY, and adjusted EPS of $9.86, up 39% YoY.
- North American Pharmaceutical revenue of $86.48 billion (+8%), Oncology & Multispecialty revenue of $12.04 billion (+32%), and Prescription Technology Solutions revenue of $1.38 billion (+9%).
- Q2 operating cash flow of $2.42 billion and free cash flow of $2.22 billion, increases of 109% and 233% YoY, respectively.
- Raised fiscal 2026 adjusted EPS guidance to $38.35–$38.85 (16–18% growth) and plans $2.5 billion in share repurchases with $6.1 billion remaining authorization.
Nov 5, 2025, 9:30 PM
McKesson reports Q2 2026 results
MCK
Earnings
Guidance Update
Share Buyback
- McKesson delivered record quarterly revenue of $103 billion (up 10% YoY) and adjusted EPS of $9.86 (up 39% YoY).
- North American Pharmaceuticals segment generated $86.5 billion in revenues (+ 8% YoY), including $13.2 billion from GLP-1 medications (+ 24% YoY); Oncology & Multi-specialty revenues rose 32% to $12 billion, with operating profit up 71% to $397 million.
- Raised fiscal 2026 adjusted EPS guidance by $0.30 to $38.35–$38.85 (implying 16–18% growth), with revenue growth now expected at 11–15% and operating profit growth at 12–16%.
- Ended the quarter with $4 billion in cash, generated $2.2 billion of free cash flow, and returned $907 million to shareholders via $818 million of share repurchases and $89 million in dividends.
Nov 5, 2025, 9:30 PM
Quarterly earnings call transcripts for MCKESSON.
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