MCK 8-K Current Reports
MCKESSON CORP - 338 current reports
MCKESSON CORP 8-K Report, Executive Changes (Jul 1, 2026)
McKesson Corporation (MCK) has announced a significant executive transition, with Thomas L. Rodgers, Executive Vice President, Chief Strategy and Business Development Officer, intending to retire effective August 1, 2026. Mr. Rodgers has served as a key named executive officer, and his departure marks the end of his tenure with the company. The company has also taken proactive steps to ensure a smooth handover by appointing Ramesh Srinivasan to the newly titled position of Executive Vice President, Chief Strategy Officer, also effective August 1, 2026. This strategic appointment underscores McKesson's commitment to maintaining continuity and leadership in its strategic initiatives during this period of change.
MCKESSON CORP 8-K Report, Material Agreement (Jun 12, 2026)
McKesson Corporation (MCK) announced on June 12, 2026, through an 8-K filing, the entry into a material definitive agreement related to its credit facilities. Specifically, certain subsidiaries, including McKesson Medical-Surgical Top Holdings, Inc. (the Borrower), have amended their existing Credit Agreement. This amendment establishes a new $2,250.0 million senior secured term "B" loan facility due in 2032. This new financing provides the Company with substantial liquidity and extends its debt maturity profile. The Term B Loan Facility bears interest at a variable rate, offering the Borrower the option between Adjusted Term SOFR Rate plus a 2.25% margin or a Base Rate plus a 1.25% margin, with the Borrower initially electing the SOFR-based rate. The obligations are secured by substantially all tangible and intangible assets of the Borrower and certain material U.S. subsidiaries, and the facility includes financial covenants related to total net leverage and interest coverage ratios.
MCKESSON CORP 8-K Report, Financial Results (May 7, 2026)
McKesson Corporation (MCK) filed an 8-K on May 7, 2026, to report preliminary financial results for the fiscal quarter and full fiscal year ended March 31, 2026. While specific financial figures are not detailed within the 8-K itself, it directs investors to an attached earnings release (Exhibit 99.1) for comprehensive details. This filing serves as a notification of the release of this important financial data, allowing investors to access the performance metrics for the recently concluded fiscal period. Investors should refer to the earnings release (Exhibit 99.1) for key financial data, including revenue, earnings per share, and any guidance provided for the upcoming fiscal year. This information is crucial for understanding McKesson's operational performance, profitability, and future outlook. The filing clarifies that this information is furnished and not deemed "filed" for certain regulatory purposes, a standard disclosure for this type of announcement.
MCKESSON CORP 8-K Report, Material Agreement (Apr 28, 2026)
McKesson Corporation (MCK) announced on April 28, 2026, the execution of a new, larger revolving credit facility. This new facility, totaling $5.0 billion, replaces two previous credit agreements with a combined capacity of $5.0 billion. The new agreement extends the maturity date to April 2031, providing enhanced long-term financial flexibility. Crucially, the new credit facility introduces a financial covenant requiring McKesson to maintain a total debt to Consolidated EBITDA ratio of no greater than 4.25x, with a temporary step-up to 4.75x allowed following significant acquisitions. This covenant is important for investors as it sets a clear leverage limit, though it excludes the Medical-Surgical Solutions segment. The company had no outstanding borrowings under its previous facilities at the time of this transition, indicating a proactive approach to its capital structure.
MCKESSON CORP 8-K Report, Material Agreement (Apr 6, 2026)
McKesson Corporation (MCK) announced a significant financing event through an 8-K filing on April 6, 2026. The Company's subsidiary, McKesson Medical-Surgical Top Holdings, Inc., entered into a new Senior Secured Credit Facilities agreement on April 1, 2026. This agreement provides substantial liquidity, comprising a $750.0 million Term Loan A-1 facility due in 2031 and a $250.0 million Term Loan A-2 facility due in 2028, totaling $1.0 billion in term loans. Additionally, a $1.0 billion senior secured revolving credit facility, maturing in April 2031, offers further financial flexibility. This new credit facility, secured by substantially all assets of the borrower and certain subsidiaries, will be used by the Company to manage its ongoing operational and strategic needs.
MCKESSON CORP 8-K Report, Regulation FD Disclosure (Mar 6, 2026)
McKesson Corporation (MCK) filed an 8-K on March 6, 2026, primarily to disclose a news release, as per Item 7.01 Regulation FD Disclosure. The content of this news release, attached as Exhibit 99.1, is crucial for investors to understand any recent developments or announcements made by the company. While the specific details of the news release are not provided in the 8-K text itself, this filing indicates that McKesson is proactively sharing information with the public, adhering to regulatory requirements for material disclosures. Investors should review the attached Exhibit 99.1 for the substantive information. This could include updates on financial performance, strategic initiatives, partnerships, regulatory matters, or other events that may impact the company's business and stock price. Given that this is a Regulation FD disclosure, the information is intended for all investors and is being disseminated to prevent selective disclosure. Therefore, a thorough understanding of the news release is paramount for informed investment decisions.
MCKESSON CORP 8-K Report, Executive Changes (Mar 5, 2026)
McKesson Corporation (MCK) announced a significant leadership transition within its finance department. Effective May 28, 2026, Britt J. Vitalone will retire as Executive Vice President and Chief Financial Officer (CFO), concluding his tenure as an employee on July 1, 2026. Mr. Vitalone will transition to a non-employee advisor role, providing consulting services to the company for a monthly fee of $50,000. Concurrently, McKesson has appointed Kenny K. Cheung as the new Executive Vice President and CFO, effective May 29, 2026. Mr. Cheung brings extensive financial leadership experience from his previous roles at Sysco Corporation and The Hertz Corporation, including guiding Hertz through its Chapter 11 restructuring. His compensation package includes a substantial sign-on bonus, restricted stock units, a competitive base salary, and performance-based incentives, reflecting the importance of this executive transition.
MCKESSON CORP 8-K Report, Financial Results (Feb 4, 2026)
McKesson Corporation (MCK) has filed a Current Report on Form 8-K to announce preliminary financial results for the quarter ended December 31, 2025. The report indicates that the company is providing an update on its operational and financial performance for the specified period, with detailed information expected to be found in the attached earnings release (Exhibit 99.1). This filing serves as an early disclosure of key metrics and financial condition for the third fiscal quarter of 2026.
MCKESSON CORP 8-K Report, Financial Results (Nov 5, 2025)
McKesson Corporation (MCK) has filed a Form 8-K to report its preliminary financial results for the quarter ended September 30, 2025. The key information is contained within the earnings release furnished as Exhibit 99.1 to this filing. Investors should refer to this exhibit for detailed financial performance data, including revenue, earnings, and any significant operational updates for the second fiscal quarter.
MCKESSON CORP 8-K Report, Regulation FD Disclosure (Sep 23, 2025)
McKesson Corporation (MCK) announced an update to its Fiscal Year 2026 guidance and long-term financial targets during its Investor Day on September 23, 2025. This filing provides investors with forward-looking information regarding the company's strategic objectives and expected financial performance. The details of these updates were disseminated via a press release, which is attached as an exhibit to this 8-K filing, and further elaborated during the Investor Day event, including a live webcast and accompanying presentation accessible on McKesson's Investor Relations website. Investors should pay close attention to the revised guidance and long-term targets as they reflect management's current outlook on the company's growth prospects and operational performance. The information furnished in this report, while not deemed 'filed' for certain regulatory purposes, offers crucial insights into McKesson's strategic direction and financial trajectory, enabling investors to make more informed decisions.
MCKESSON CORP 8-K Report, Financial Results (Sep 18, 2025)
McKesson Corporation (MCK) has announced a significant restructuring of its reportable business segments, effective in the second quarter of fiscal year 2026. The company will now report financial results across four primary segments: North American Pharmaceutical, Oncology & Multispecialty, Prescription Technology Solutions, and Medical-Surgical Solutions. This change reflects the company's strategic allocation of resources and performance assessment by its Chief Operating Decision Maker. Notably, the Medical-Surgical Solutions segment is slated for separation into an independent company, as previously announced in May 2025. In addition to segment realignments, McKesson is progressing with the sale of its Norwegian operations, having entered into a definitive agreement. The company has also filed supplemental historical financial information, restated under the new segment structure, to provide investors with a clearer view of historical performance across these redefined segments. These changes, while impacting reporting, do not retroactively alter previously issued consolidated financial statements or historical earnings per diluted share.
MCKESSON CORP 8-K Report, Financial Results (Aug 6, 2025)
McKesson Corporation (MCK) has filed an 8-K report on August 5, 2025, to disclose preliminary financial results for the quarter ended June 30, 2025. The report primarily serves to attach the earnings release dated August 6, 2025, which contains the detailed financial information for the period. Investors should refer to Exhibit 99.1 for the specific operational and financial performance figures. While the filing itself is procedural and furnished rather than formally filed, the attached earnings release is the critical document for understanding McKesson's recent performance. Investors are encouraged to review the preliminary results to gauge the company's progress and its impact on the overall financial outlook. The filing does not contain new material events beyond the reporting of these preliminary results.
MCKESSON CORP 8-K Report, Shareholder Vote Results (Aug 1, 2025)
McKesson Corporation (MCK) has filed an 8-K report detailing the results of its Annual Meeting of Shareholders held on July 30, 2025. The report indicates strong shareholder support for the company's slate of director nominees, with all individuals elected to the Board of Directors by a significant majority of votes cast. Additionally, shareholders overwhelmingly ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the upcoming fiscal year, signaling confidence in the company's financial oversight. The advisory vote on executive compensation also passed, suggesting general shareholder approval of the current compensation structure for named executive officers.
MCKESSON CORP 8-K Report, Regulation FD Disclosure (Jun 9, 2025)
McKesson Corporation (MCK) has filed a Form 8-K on June 9, 2025, to provide an update on its Fiscal Year 2026 financial outlook ahead of investor meetings. The key takeaway for investors is the upward revision of the company's full-year Adjusted Earnings per Diluted Share (Adjusted EPS) guidance. McKesson now expects Adjusted EPS to be in the range of $36.90 to $37.70, an increase from the previously announced range of $36.75 to $37.55. This positive adjustment signals continued confidence in the company's performance and its ability to generate shareholder value. The company also reaffirmed its full-year effective tax rate guidance of 17% to 19%. The filing details a projected effective tax rate for the first half of the fiscal year between 17% and 20% (with a higher rate in Q1 than Q2), and for the second half between 16% and 19%. All other guidance provided on the May 8, 2025 earnings call remains in effect. McKesson emphasizes that Adjusted EPS is a non-GAAP measure and provides context regarding its forward-looking guidance for this metric, noting the difficulty in reconciling it to GAAP figures.
MCKESSON CORP 8-K Report, Financial Obligation (May 30, 2025)
McKesson Corporation (MCK) has announced the successful closing of a significant notes offering, raising a total of $2.0 billion. This offering comprises three tranches of senior notes: $650 million in 4.650% Notes due 2030, $650 million in 4.950% Notes due 2032, and $700 million in 5.250% Notes due 2035. The net proceeds from this issuance are earmarked for a strategic acquisition, specifically the purchase of a 70% controlling interest in Community Oncology Revitalization Enterprise Ventures, LLC. This move indicates McKesson's commitment to expanding its presence and capabilities within the oncology services sector.
MCKESSON CORP 8-K Report, Financial Results (May 8, 2025)
McKesson Corporation (MCK) has filed an 8-K report on May 7, 2025, to announce preliminary financial results for the fiscal quarter and year ended March 31, 2025. The key information is contained within an earnings release attached as Exhibit 99.1, which provides the company's performance metrics for the period. Investors should refer to this exhibit for detailed financial figures and operational updates. While the 8-K itself is a notification of these preliminary results, the substance of the disclosure is in the accompanying earnings release. This filing serves as a timely update to the market ahead of the official reporting period, offering insights into McKesson's financial condition and operational results. The company is furnishing this information, meaning it's not deemed 'filed' for certain SEC purposes but is still a crucial communication to stakeholders.
MCKESSON CORP 8-K/A Report, Financial Results (Feb 5, 2025)
McKesson Corporation filed an 8-K/A amendment on February 5, 2025, providing updated information related to its preliminary results for the quarter ended December 31, 2024. While the filing itself doesn't contain the detailed financial figures, it references an attached earnings release (Exhibit 99.1) dated February 5, 2025, which is the primary source for this quarterly update. Investors should refer to this earnings release for specifics on the company's financial performance, operational highlights, and forward-looking statements for the period.
MCKESSON CORP 8-K Report, Financial Results (Feb 5, 2025)
McKesson Corporation (MCK) has filed a Form 8-K on February 5, 2025, to report preliminary results for the quarter ended December 31, 2024. While this filing provides an update on the company's financial performance, it's important to note that the information is furnished and not deemed 'filed' for certain regulatory purposes, meaning it doesn't automatically get incorporated into other SEC filings unless specifically referenced. Investors should refer to the attached earnings release (Exhibit 99.1) for the specific details of these preliminary results. This report serves as a notification mechanism for the market regarding McKesson's recent financial outcomes. The key details regarding revenue, profitability, and any significant operational developments will be found within the accompanying earnings release. Investors are encouraged to review this document to understand the company's performance trajectory and its implications for future financial health.
MCKESSON CORP 8-K Report, Financial Results (Nov 6, 2024)
McKesson Corporation (MCK) has filed an 8-K on November 5, 2024, to report preliminary financial results for the quarter ended September 30, 2024. The filing primarily serves to attach the earnings release (Exhibit 99.1) which contains the detailed operational and financial condition information. Investors should refer to Exhibit 99.1 for the specific financial metrics and performance details.
MCKESSON CORP 8-K Report, Financial Obligation (Sep 10, 2024)
McKesson Corporation (MCK) has announced the successful closing of a $500 million offering of 4.250% Notes due 2029. The net proceeds, approximately $498 million after underwriting discounts but before expenses, are intended to be used, along with existing cash, to fund the redemption of its 5.250% notes due February 15, 2026. This move signals a proactive approach to managing its debt structure, likely aiming for lower interest costs or extended maturity profiles. The company also issued a notice of redemption for its outstanding 2026 Notes. This refinancing activity is a significant event for investors, indicating capital allocation strategies and potential shifts in McKesson's financial leverage and interest expense. Investors should monitor the impact of this new debt on the company's balance sheet and future earnings.
MCKESSON CORP 8-K Report, Regulation FD Disclosure (Sep 5, 2024)
McKesson Corporation (MCK) filed an 8-K on September 5, 2024, to provide an update following its participation in the Wells Fargo 2024 Healthcare Conference. The primary takeaway for investors is that McKesson reaffirmed its full-year fiscal 2025 Adjusted Earnings per Diluted Share (EPS) guidance, which remains in the range of $31.75 to $32.55. This affirmation suggests confidence in the company's ongoing performance and its ability to meet previously stated financial targets for the fiscal year. Additionally, the company provided an anticipated range for its second quarter fiscal 2025 Adjusted EPS, projecting it to be between $6.70 and $7.00. This forward-looking statement offers investors a more immediate financial outlook, signaling expected earnings within the current fiscal quarter. The filing also includes standard disclosures regarding non-GAAP financial measures and cautionary statements about forward-looking information, reminding investors of the inherent risks and uncertainties that could impact actual results.
MCKESSON CORP 8-K Report, Regulation FD Disclosure (Aug 26, 2024)
McKesson Corporation (MCK) has announced a significant strategic move with the signing of a definitive agreement to acquire a controlling interest (approximately 70%) in Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures) for approximately $2.49 billion in cash. Core Ventures serves as the exclusive provider of non-clinical business and administrative services to Florida Cancer Specialists & Research Institute, LLC, a prominent oncology practice. This acquisition signals McKesson's deepening commitment to the oncology sector and its strategy to expand its services beyond traditional pharmaceutical distribution into integrated healthcare solutions. The transaction is subject to customary closing conditions, including regulatory review, and is expected to enhance McKesson's capabilities in supporting oncology practices. Investors should note that the company has included cautionary statements highlighting potential risks and uncertainties associated with this acquisition, such as obtaining regulatory approvals, achieving expected outcomes, and potential adverse impacts from integration challenges or external events. The full details of the news release are available on McKesson's website.
MCKESSON CORP 8-K Report, Financial Results (Aug 7, 2024)
McKesson Corporation (MCK) has filed an 8-K report on August 7, 2024, to announce its preliminary results for the first quarter ended June 30, 2024. The report primarily references an attached earnings release (Exhibit 99.1) which contains the detailed financial performance for the period. Investors should refer to this earnings release for specific operational and financial metrics, as the 8-K itself is largely a notification of this information being made public.
MCKESSON CORP 8-K Report, Shareholder Vote Results (Aug 2, 2024)
McKesson Corporation (MCK) filed an 8-K report detailing the results of its Annual Shareholders' Meeting held on July 31, 2024. The primary outcomes of the meeting include the overwhelming re-election of all director nominees proposed by the Board, the ratification of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending March 31, 2025, and the approval of advisory votes on executive compensation and an amendment to the company's Certificate of Incorporation for officer exculpation. Notably, two shareholder-submitted proposals, one concerning an independent chairman and another requesting a report on the risks of state policies restricting reproductive healthcare, were not approved by the shareholders. These voting outcomes suggest strong shareholder confidence in the current Board of Directors and the company's financial oversight and governance practices, while also indicating a divergence of opinion on specific social and governance issues.
MCKESSON CORP 8-K Report, Executive Changes (Jun 3, 2024)
McKesson Corporation (MCK) announced a board composition change through an 8-K filing. The company has elected Deborah Dunsire, M.D., to its Board of Directors, effective June 3, 2024. Dr. Dunsire brings extensive experience in the biopharmaceutical and oncology sectors, having previously served as CEO of H. Lundbeck A/S and holding various leadership roles in other pharmaceutical companies. Her appointment is expected to enhance the Board's expertise in relevant industries. In addition, McKesson disclosed that two current directors, Linda Mantia and Susan R. Salka, will not be standing for re-election at the upcoming 2024 annual meeting of shareholders. Their terms will expire at that meeting. These changes signal a refresh in the Board's composition, bringing in new strategic perspectives while transitioning out existing members.
MCKESSON CORP 8-K Report, Financial Results (May 7, 2024)
McKesson Corporation (MCK) filed an 8-K on May 7, 2024, to report its preliminary financial results for the fiscal year and fourth quarter ended March 31, 2024. While the full details are contained within an attached earnings release (Exhibit 99.1), this filing serves as an announcement of these results. Investors should refer to the earnings release for comprehensive financial data, performance metrics, and management commentary. This report does not contain newly filed financial statements but rather furnishes information that is typically released through earnings announcements. The information is furnished and not deemed 'filed' for the purposes of Section 18 of the Exchange Act, meaning it doesn't automatically become incorporated into prior SEC filings unless explicitly stated. Investors will need to consult the earnings release directly for the substantive financial information.
MCKESSON CORP 8-K Report, Financial Results (Feb 7, 2024)
McKesson Corporation (MCK) filed an 8-K on February 7, 2024, to report preliminary results for the quarter ended December 31, 2023. The filing itself primarily serves as a notification of the release of earnings information, attaching the detailed earnings release as Exhibit 99.1. Investors should refer to the accompanying earnings release for the specific financial performance metrics and operational updates for the third fiscal quarter of 2024. While this 8-K does not contain extensive details itself, its purpose is to make the earnings release publicly available through an SEC filing. This ensures timely disclosure of the company's financial condition and results of operations to the market. Investors are encouraged to review the attached Exhibit 99.1 for a comprehensive understanding of McKesson's performance during the reported period, including key financial figures and management's commentary.
MCKESSON CORP 8-K Report, Executive Changes (Jan 9, 2024)
McKesson Corporation (MCK) announced a significant addition to its Board of Directors with the election of Kevin Ozan, effective January 8, 2024. Mr. Ozan brings extensive financial expertise, having served as Executive Vice President and Chief Financial Officer at McDonald's Corporation for seven years, and prior experience in audit and mergers and acquisitions at Ernst & Young. His appointment to the Board's Audit and Finance Committees suggests a continued focus on financial oversight and strategic financial planning. Beyond the board changes, the company also issued a press release on January 9, 2024, highlighting this director election, upcoming participation in the J.P. Morgan Healthcare Conference, and an acquisition of Compile. Investors should note that while the director election is a material event, the details of the press release, including the acquisition and conference participation, are furnished and not deemed 'filed' under SEC regulations, meaning they don't carry the same legal implications as a fully filed document. However, they provide timely insights into the company's strategic direction and activities.
MCKESSON CORP 8-K Report, Material Agreement (Nov 7, 2023)
McKesson Corporation (MCK) has filed an 8-K report detailing the extension of its revolving credit facility's maturity date. On November 7, 2023, the company received acknowledgment and consent from Bank of America, N.A. (as administrative agent), lenders, and letter of credit issuers to extend the maturity date from November 7, 2027, to November 7, 2028. This extension provides McKesson with an additional year of access to its revolving credit facility without altering other terms of the existing Credit Agreement. This proactive measure likely signals the company's intent to maintain financial flexibility and a stable liquidity position, which is generally viewed positively by investors, especially in the current economic climate. The company previously disclosed details of this Credit Agreement in its Form 8-K filed on November 7, 2022.
MCKESSON CORP 8-K Report, Financial Results (Nov 1, 2023)
McKesson Corporation (MCK) filed an 8-K on November 1, 2023, primarily to report preliminary financial results for the quarter ended September 30, 2023, and to announce a key executive leadership transition. While specific financial figures are not detailed within the 8-K itself, the filing indicates that detailed results are available in an accompanying earnings release (Exhibit 99.1). Investors should refer to this release for performance metrics, revenue, and profitability updates for the recent quarter. The most significant leadership change disclosed is the upcoming retirement of Chief Legal Officer Lori A. Schechter, effective as of the date of the notice (October 27, 2023). The company also announced that Michele Lau is expected to succeed Ms. Schechter in this critical role. This transition in legal leadership is an important factor for investors to consider regarding corporate governance and strategic execution.
MCKESSON CORP 8-K Report, Regulation FD Disclosure (Oct 16, 2023)
McKesson Corporation (MCK) has filed an 8-K to address the bankruptcy filing of its customer, Rite Aid. The company states that Rite Aid's bankruptcy is not expected to have a material impact on McKesson's fiscal year 2024 Adjusted Earnings Per Diluted Share outlook, which was previously provided on August 2, 2023. Furthermore, McKesson does not anticipate any material impact on its liquidity position or overall operations as a result of this event. Investors are reminded that McKesson will be releasing its second quarter fiscal 2024 financial results after market close on Wednesday, November 1, 2023. A webcast will be available on the company's Investor Relations website for a review of these results. The filing also includes standard cautionary statements regarding forward-looking statements and potential risks, which investors should consider.
MCKESSON CORP 8-K Report, Executive Changes (Oct 3, 2023)
McKesson Corporation (MCK) announced a significant leadership realignment within its technology and finance functions. Britt Vitalone, currently Executive Vice President and Chief Financial Officer, will assume expanded responsibilities, adding oversight of the Company's Technology Organization and Mergers & Acquisitions, effective October 3, 2023. This move aims to enhance strategic alignment and consolidate leadership under Vitalone's extensive experience. Complementing this change, Francisco Fraga has been appointed as the new Executive Vice President, Chief Information Officer, and Chief Technology Officer, reporting directly to Vitalone. Fraga's prior experience as Senior Vice President and Chief Information Officer for Pharmaceutical Solutions and Services positions him to integrate technology efforts. This report also notes the departure of Nancy Avila from her role as Executive Vice President, Chief Information Officer and Chief Technology Officer, though she will remain with McKesson through January 1, 2024, to facilitate a smooth transition.
MCKESSON CORP 8-K Report, Financial Results (Aug 2, 2023)
McKesson Corporation (MCK) filed an 8-K on August 2, 2023, to report preliminary results for the quarter ended June 30, 2023. This filing primarily serves as a notification of the earnings release, which is attached as Exhibit 99.1. Investors should refer to Exhibit 99.1 for the detailed financial performance and operational updates for the period. The information furnished in this 8-K is preliminary and provided to the SEC, but it is not considered 'filed' for purposes of Section 18 of the Exchange Act or incorporated into other filings unless explicitly stated. Therefore, investors should rely on the attached earnings release for the substantive financial information and any forward-looking statements.
MCKESSON CORP 8-K Report, Shareholder Vote Results (Jul 25, 2023)
McKesson Corporation (MCK) filed an 8-K on July 25, 2023, detailing the results of its Annual Shareholders Meeting held on July 21, 2023. The report indicates that all director nominees proposed by the Board were elected and that Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year ending March 31, 2024. Additionally, shareholders approved, on an advisory basis, the compensation of the Company's named executive officers. The meeting also addressed the frequency of advisory votes on executive compensation, with shareholders overwhelmingly favoring an annual vote. However, a shareholder-submitted proposal regarding the ratification of termination pay did not receive approval. Overall, the filing reflects shareholder confidence in the board and executive compensation structure, while also highlighting a specific area of shareholder concern regarding termination pay.
MCKESSON CORP 8-K Report, Agreement Terminated (Jun 16, 2023)
McKesson Corporation (MCK) filed an 8-K on June 15, 2023, detailing the closing of a significant debt offering and the subsequent satisfaction and discharge of a prior debt instrument. The company successfully issued and sold $1 billion in aggregate principal amount of new notes, comprising $400 million of 4.900% Notes due 2028 and $600 million of 5.100% Notes due 2033. This offering was conducted under their existing shelf registration statement and will provide approximately $991.2 million in net proceeds after underwriting expenses. The proceeds from this offering were strategically utilized. A portion was used to fund the repurchase of outstanding 3.796% Notes due 2024 through a concurrent tender offer, and to satisfy and discharge the related indenture. The remaining proceeds are earmarked for general corporate purposes. This move indicates proactive debt management and a refinancing strategy to potentially lower borrowing costs and extend maturity profiles. Investors should note the terms of the new notes, including redemption provisions, covenants, and a change of control provision that includes a repurchase obligation upon a downgrade to below investment grade.
MCKESSON CORP 8-K Report, Corporate Update (Jun 7, 2023)
McKesson Corporation (MCK) announced on June 7, 2023, the commencement of a cash tender offer for any and all of its outstanding 3.796% Notes due 2024. This move indicates the company's proactive approach to managing its debt obligations, specifically targeting the $918 million principal amount of these notes that are currently outstanding. The company plans to potentially satisfy and discharge the indenture for these notes if any remain outstanding after the tender offer. This action suggests a strategic debt management strategy, possibly aimed at optimizing its capital structure, reducing interest expenses, or refinancing at more favorable terms. Investors should monitor the outcome of this tender offer and the company's subsequent actions regarding its debt.
MCKESSON CORP 8-K Report, Financial Results (May 8, 2023)
McKesson Corporation filed an 8-K on May 8, 2023, to report its preliminary financial results for the fiscal quarter and full fiscal year ended March 31, 2023. While the filing itself primarily serves as a notification and includes the earnings release as an exhibit, it signals the release of key financial performance data for the period. Investors should refer to the accompanying earnings release (Exhibit 99.1) for detailed financial figures, operational performance insights, and forward-looking statements made by the company. This filing is a crucial update for understanding McKesson's recent financial health and its trajectory as it concludes its fiscal year.
MCKESSON CORP 8-K Report, Bylaw Amendment (Apr 28, 2023)
This 8-K filing from McKesson Corporation (MCK) details significant amendments to the company's Amended and Restated By-laws, effective April 26, 2023. The changes primarily focus on enhancing the governance framework related to stockholder meetings, the submission of stockholder proposals, and director nominations. Key updates aim to clarify procedures, align with Delaware corporate law, and provide the Board with greater flexibility in managing these processes. These amendments are designed to streamline operations and ensure compliance with evolving regulatory requirements.
MCKESSON CORP 8-K Report, Material Agreement (Feb 15, 2023)
McKesson Corporation (MCK) announced the issuance and sale of $500,000,000 aggregate principal amount of its 5.250% Notes due 2026. These unsecured and unsubordinated notes were issued on February 15, 2023, bearing an annual interest rate of 5.250%, with semi-annual interest payments commencing August 15, 2023. The net proceeds from this offering are expected to be approximately $497.8 million, intended for general corporate purposes, which may include debt repayment. Investors should note the terms of redemption, which allow McKesson to redeem the notes under specific conditions including a make-whole premium before February 15, 2024, and at par thereafter. The indenture includes covenants limiting the company's ability to incur certain liens or engage in sale and leaseback transactions, and provides for a repurchase option for noteholders in the event of a change of control coupled with a credit rating downgrade. These notes are being offered under McKesson's existing shelf registration statement.
MCKESSON CORP 8-K Report, Financial Results (Feb 1, 2023)
McKesson Corporation (MCK) filed an 8-K on February 1, 2023, to report preliminary results for the quarter ended December 31, 2022. The filing primarily serves as a vehicle to furnish the company's earnings release, which is attached as Exhibit 99.1. Investors should note that this information, while provided to the SEC, is furnished and not deemed "filed" for purposes of Section 18 of the Exchange Act, nor is it automatically incorporated into other SEC filings unless specifically referenced. The key details of McKesson's quarterly performance are within the attached earnings release, which this 8-K directs investors to.
MCKESSON CORP 8-K Report, Material Agreement (Nov 7, 2022)
McKesson Corporation (MCK) announced the entry into a new Credit Agreement, establishing a New Revolving Credit Facility and a New Term Loan Credit Facility. These agreements, effective November 7, 2022, replace the company's previous revolving credit facility. The New Revolving Credit Facility provides up to $4.0 billion in credit and matures in November 2027, extending the term from the previous facility. The New Term Loan Credit Facility offers up to $500 million for delayed draw borrowings and matures in November 2025. Both new facilities maintain the company's total debt to Consolidated EBITDA ratio covenant at 4.00x, with a temporary step-up to 4.50x allowed post-acquisition. Notably, the new revolving facility includes provisions for incorporating Environmental, Social, and Governance (ESG) targets, which could lead to adjustments in facility fees and margins. Funds from these facilities are designated for general corporate purposes. The termination of the prior credit facility is also noted, with no outstanding borrowings at that time.
MCKESSON CORP 8-K Report, Financial Results (Nov 1, 2022)
McKesson Corporation (MCK) filed an 8-K on November 1, 2022, to report its preliminary financial results for the quarter ended September 30, 2022. The filing primarily consists of an earnings release, providing investors with an early look at the company's performance during the second fiscal quarter of 2023. This release is furnished to the SEC and not deemed 'filed,' meaning it doesn't carry the same regulatory implications as a formally filed document, though it provides essential operational and financial data. Investors should review the attached earnings release (Exhibit 99.1) for detailed financial metrics, including revenue, profitability, and any forward-looking statements or management commentary. While this 8-K itself is brief, the incorporated earnings release is the critical document for understanding McKesson's recent financial condition and operational results.
MCKESSON CORP 8-K Report, Executive Changes (Sep 13, 2022)
McKesson Corporation (MCK) announced a key executive transition in a recent 8-K filing. Tracy L. Faber, Executive Vice President and Chief Human Resources Officer, has announced her retirement, effective December 1, 2022. Ms. Faber is a named executive officer, making this a significant change in the company's senior leadership. In conjunction with this departure, McKesson has appointed LeAnn B. Smith to succeed Ms. Faber as the new Executive Vice President and Chief Human Resources Officer. This leadership change in human resources is effective upon Ms. Faber's retirement. Investors should monitor how this transition impacts the company's HR strategy and employee relations moving forward.
MCKESSON CORP 8-K Report, Financial Results (Aug 3, 2022)
McKesson Corporation (MCK) filed an 8-K on August 3, 2022, to report preliminary results for the quarter ended June 30, 2022. While the 8-K itself doesn't contain the detailed financial figures, it references an attached earnings release (Exhibit 99.1) which is the primary source for investor-facing information regarding the company's performance during the period. Investors should refer to this earnings release for specific details on revenue, earnings, and other key financial metrics.
MCKESSON CORP 8-K Report, Shareholder Vote Results (Jul 25, 2022)
McKesson Corporation (MCK) filed an 8-K on July 25, 2022, detailing the results of its Annual Shareholders Meeting held on July 22, 2022. The meeting focused on routine corporate governance matters, including the election of directors, ratification of the independent auditor, executive compensation advisory vote, and approval of stock plans. All director nominees were elected, and the appointment of Deloitte & Touche LLP as the independent registered public accounting firm was ratified. Shareholders also approved, on an advisory basis, the compensation of named executive officers and key stock plans. Notably, two shareholder-submitted proposals did not pass. These included a proposal to reduce the ownership threshold required to call a special meeting and a proposal to require Form 8-K disclosure for Section 16 insider adoption, modification, or cancellation of Rule 10b5-1 trading plans. The overwhelming support for director nominees and auditor ratification, coupled with the rejection of these specific shareholder proposals, indicates continued confidence in the current board and management's direction.
MCKESSON CORP 8-K Report, Financial Results (May 5, 2022)
McKesson Corporation (MCK) filed an 8-K on May 5, 2022, to report its preliminary financial results for the fourth quarter and full fiscal year ended March 31, 2022. This filing primarily consists of an earnings release (Exhibit 99.1) that provides the company's performance details for the period. While this information is furnished to the SEC, it is important to note that it is not deemed "filed" under Section 18 of the Securities Exchange Act of 1934, unless specifically incorporated by reference into a future filing.
MCKESSON CORP 8-K Report, Executive Changes (Apr 29, 2022)
McKesson Corporation (MCK) filed an 8-K on April 28, 2022, detailing amendments to its executive compensation and severance policies, effective April 26, 2022. The primary focus is on the adoption of an Amended and Restated Severance Policy for Executive Employees. This policy outlines the severance payments and benefits executives are entitled to in the event of a termination without cause that qualifies as a 'separation from service' and does not trigger change-in-control benefits. The severance benefit is calculated as the lesser of 12 months' base salary plus one additional month per year of service, or 24 months' base salary, contingent upon a release of claims and adherence to restrictive covenants.
MCKESSON CORP 8-K Report, Executive Changes (Apr 1, 2022)
McKesson Corporation (MCK) announced a strategic addition to its Board of Directors with the election of W. Roy Dunbar, effective April 1, 2022. Mr. Dunbar brings a wealth of experience from senior leadership roles in technology and global operations at major companies like MasterCard and Eli Lilly and Company. His appointment, along with his inclusion on the Audit and Governance Committees, is expected to strengthen the Board's oversight and strategic direction. Investors can view this as a positive development, indicating the company's commitment to bringing diverse and seasoned expertise to its governance. Mr. Dunbar's compensation will align with the company's standard arrangements for non-employee directors, including a prorated annual cash retainer and restricted stock units, which aligns his interests with shareholders.
MCKESSON CORP 8-K Report, Material Agreement (Feb 25, 2022)
McKesson Corporation (MCK) has announced a significant development regarding its opioid-related litigation. On February 25, 2022, the company, along with two other major pharmaceutical distributors, finalized an agreement to settle a substantial majority of opioid lawsuits filed by U.S. states, territories, and local governmental entities. This settlement, set to become effective on April 2, 2022, represents a move towards resolving a long-standing legal overhang for the company. The total settlement amount is up to approximately $19.5 billion, to be paid over 18 years. McKesson's portion is estimated at $7.4 billion, reflecting its 38.1% share. A key aspect of the settlement is that a minimum of 85% of these funds must be allocated by governmental entities towards remediating the opioid epidemic, with the remainder largely covering attorneys' fees and costs. The agreement includes the establishment of a clearinghouse to track controlled-substance distribution data, aiding in anti-diversion efforts. Importantly, the settlement does not involve an admission of liability or wrongdoing by the distributors.
MCKESSON CORP 8-K Report, Executive Changes (Feb 22, 2022)
McKesson Corporation (MCK) has announced a significant leadership change in its financial reporting structure with the appointment of Napoleon B. Rutledge, Jr. as Senior Vice President, Controller, and Chief Accounting Officer, effective March 1, 2022. Mr. Rutledge brings extensive experience from Genuine Parts Company, where he held senior finance and accounting roles, including responsibility for SEC reporting and regulatory accounting matters. This appointment signals a move to bolster the company's accounting and financial oversight functions with seasoned expertise. Investors should note the comprehensive compensation package offered to Mr. Rutledge, which includes a targeted market-midpoint salary, a significant annual cash bonus opportunity, and a market-level sign-on bonus structured with repayment provisions tied to tenure. Furthermore, his compensation includes performance stock units and restricted stock units, aligning his incentives with the company's long-term performance and value creation. The transition also involves Kevin W. Emerson, who will move from his interim roles to a new position as Senior Vice President, Finance Operations.