01—Abstract
Summary
Summary of the 8-K filed June 9, 2025. Cited figures are marked; the original filing is the authoritative source.
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 $37.70a, 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%b 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.
02—Key points
Key Highlights
- McKesson has increased its Fiscal Year 2026 Adjusted Earnings per Diluted Share (Adjusted EPS) guidance to a new range of $36.90 to $37.70.
- The previous Fiscal Year 2026 Adjusted EPS guidance was in the range of $36.75 to $37.55.
- The company reaffirmed its full-year effective tax rate guidance of 17% to 19%.
- Projected effective tax rate for the first half of FY26 is 17% to 20% (Q1 higher than Q2).
- Projected effective tax rate for the second half of FY26 is 16% to 19%.
- All other guidance provided on the May 8, 2025 earnings call has been reaffirmed.
- The filing primarily serves as a Regulation FD disclosure ahead of investor meetings scheduled for June 9, 2025.
03—Questions
Frequently Asked Questions
What is the main reason for this 8-K filing?
This 8-K filing is primarily a Regulation FD disclosure to provide investors with an updated financial outlook for Fiscal Year 2026 ahead of scheduled meetings with investors and analysts. The key update is an increase in the company's Adjusted Earnings per Diluted Share guidance.
How has McKesson's FY2026 earnings guidance changed?
McKesson has increased its full-year Adjusted Earnings per Diluted Share (Adjusted EPS) guidance for Fiscal Year 2026. The new range is $36.90 to $37.70, up from the previous range of $36.75 to $37.55.
Is McKesson providing updated guidance on its tax rate?
No, McKesson is reaffirming its full-year effective tax rate guidance of 17% to 19%. The filing provides a more detailed breakdown, anticipating a 17% to 20% rate for the first half of the fiscal year (with Q1 expected to be higher than Q2) and a 16% to 19% rate for the second half.
What is 'Adjusted Earnings per Diluted Share' and why isn't it reconciled to GAAP?
Adjusted Earnings per Diluted Share (Adjusted EPS) is a non-GAAP financial measure. McKesson states that it cannot provide a quantitative reconciliation of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measure without unreasonable effort, due to the unpredictable nature of items like LIFO inventory adjustments, litigation contingencies, restructuring charges, and other potential adjustments.
04—Continue