McKesson Q3 Earnings Beat Street View, Raises FY22 Outlook Boosted By COVID-19 Vaccine Demand - McKesson

McKesson Corp

(NYSE:

) reported

, +34% Y/Y, and easily beating the analyst consensus of $5.42.

Revenues increased 10% Y/Y to $68.61 billion, surpassing the consensus of $66.49 billion.
U.S. Pharmaceutical segment's Q3 FY22 revenues were $55.0 billion, +11%, driven by higher volumes from retail national account customers and market growth, partially offset by branded to generic conversions.
Prescription Technology Solutions segment revenues increased 33% to $1 billion, driven by volume growth related to biopharma services.
Medical-Surgical Solutions revenues improved 1% to $3.1 billion, driven by increased sales of COVID-19 tests, partially offset by lower revenue from COVID-19 tests.
Through January 31, 2022, McKesson has shipped over 370 million vaccines on behalf of the U.S. government.
Also See: Johnson & Johnson, Distributors Reach $590M Opioid Settlement For Tribe Claims: Report.
Adjusted gross profit margin remained almost unchanged at 5%.
Outlook: McKesson increased FY22 adjusted EPS guidance to $23.55 - $23.95, up from the previous outlook of $22.35 - $22.95, compared to the consensus of $22.78.
Price Action: MCK shares closed higher by 0.60% at $258.46 on Wednesday.

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