MCK · MCKESSON CORP

475 filings

MCK SEC Filings

MCKESSON CORP - 475 total filings

Filing record · 2016–202610-K1110-Q328-K146

Showing 1–50 of 475 filings

MCKESSON CORP 8-K Report, Regulation FD Disclosure (Oct 6, 2026)

McKesson Corporation (NYSE: MCK) announced on October 6, 2026, that it has entered into a definitive agreement with Clayton, Dubilier & Rice (CD&R) to acquire a minority interest in Option Care Health, Inc. (Nasdaq: OPCH), the nation's largest independent provider of home and alternate site infusion services. The transaction values Option Care Health at $32.05 per share, or a total enterprise value of approximately $5.8 billion, representing a premium of roughly 37% to its October 5, 2026 closing price. CD&R will hold a majority stake of approximately 51%, while McKesson will invest approximately $1.4 billion for a roughly 49% minority interest. For McKesson investors, the key takeaways are the size of the capital commitment relative to the company's strategy and the accounting treatment. McKesson intends to account for its stake using the equity method, recording its share of Option Care Health's net income or loss within Other Income, net, which means the investment will flow through McKesson's earnings and could add volatility. The agreement also establishes a framework for McKesson to later acquire CD&R's interest, subject to conditions and regulatory approvals, which could represent a further future capital outlay. The filing does not disclose the expected financial impact on McKesson's earnings, leverage, or capital allocation beyond the investment amount. The transaction is expected to close in the first half of calendar 2027, subject to Option Care Health stockholder approval and regulatory clearances. Upon closing, Option Care Health will be delisted from Nasdaq and become privately held, and it will continue to operate under its existing management team. Option Care Health also withdrew its prior financial guidance and will not host a conference call for its Q3 2026 results, scheduled for November 4, 2026. Investors should monitor the proxy statement, regulatory process, and any future disclosures on McKesson's strategic rationale and financial impact.

Oct 6, 2026 8-K

MCKESSON CORP 8-K Report, Regulation FD Disclosure (Aug 28, 2026)

McKesson Corporation (MCK) filed an 8-K on August 28, 2026, to disclose a cybersecurity incident that was discovered on August 25, 2026. The company has initiated an investigation, which is currently in its early stages. McKesson is providing updates on its website at www.mckesson.com/cybersecurity for interested parties. At the time of this filing, the company has not yet determined the materiality of the incident or its potential impact on financial condition or results of operations.

Aug 28, 2026 8-K

MCKESSON CORP 8-K Report, Financial Results (Aug 5, 2026)

McKesson (MCK) reported fiscal 2027 first-quarter results for the quarter ended June 30, 2026, with revenue up 8% to $105.4 billion and Adjusted Earnings per Diluted Share up 20% to $9.93, while GAAP diluted EPS fell 18% to $5.15. The GAAP decline is driven mainly by a $293 million remeasurement charge to redemption value of redeemable noncontrolling interests tied to the Apollo Funds' purchase of an approximately 13% stake in the Medical-Surgical Solutions business, which lifted noncontrolling interest income to $418 million from $47 million. Management attributes the adjusted growth to North American Pharmaceutical and Oncology & Multispecialty, plus a lower share count (diluted shares down 5% to 119.2 million). Oncology & Multispecialty revenue grew 33% and adjusted segment operating profit grew 41%, while Medical-Surgical Solutions adjusted profit fell 20%. Cash generation was weak in the quarter: operating cash flow was negative $220 million and free cash flow was negative $372 million, versus negative $1.1 billion a year earlier. Capital return remained heavy at $2.6 billion, including $2.5 billion of buybacks, of which $2.25 billion was an accelerated share repurchase, and the quarterly dividend was raised 15% to $0.94. Total debt rose meaningfully, with long-term debt increasing to $8.4 billion from $5.3 billion, and stockholders' deficit widened to $(4.2) billion, reflecting the buyback and separation-related activity. Management raised fiscal 2027 Adjusted EPS guidance to $44.20-$45.00 from $43.80-$44.60, implying 13%-15% growth, and no GAAP EPS forecast is provided. The planned separation of Medical-Surgical Solutions, now named Wellverse, remains in progress and is a key driver of both the ownership changes and the upcoming GAAP volatility. Investors should weigh the strong adjusted earnings momentum against the negative free cash flow, rising leverage, and the reliance on non-GAAP adjustments to present results.

Aug 5, 2026 10-Q

MCKESSON CORP Quarterly Report for Q1 Ended Jun 30, 2026

McKesson Corporation reported an increase in revenues for the three months ended June 30, 2026, driven by growth in its North American Pharmaceutical and Oncology & Multispecialty segments. While revenue rose by 8% year-over-year to $105.4 billion, net income attributable to McKesson Corporation saw a significant decrease of 22% to $614 million, resulting in diluted earnings per share of $5.15, down from $6.25 in the prior year period. The company's financial performance was impacted by various factors, including higher operating expenses, increased interest expense due to new debt facilities, and a substantial increase in restructuring, impairment, and related charges, which more than doubled compared to the prior year. Despite these pressures, McKesson continued its capital return program, repurchasing $2.5 billion in stock and paying $102 million in dividends, and announced an increase in its quarterly dividend.

Aug 5, 2026 8-K

MCKESSON CORP 8-K Report, Shareholder Vote Results (Jul 24, 2026)

McKesson Corporation (MCK) has filed an 8-K reporting the final results of its Annual Meeting of Shareholders held on July 22, 2026. The filing confirms the election of all director nominees presented by the Board of Directors, with each individual receiving a substantial majority of "for" votes compared to "against" votes. Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the upcoming fiscal year. The advisory vote to approve executive compensation also passed with a majority of "for" votes. While the overall outcomes are positive, investors should note the varying levels of support for individual director nominees and the advisory executive compensation vote, as indicated by the number of "against" votes and abstentions. The consistent broker non-vote count across director elections suggests a stable portion of shares held in "street name."

Jul 24, 2026 8-K

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.

Jul 1, 2026 8-K

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.

Jun 12, 2026 10-K

MCKESSON CORP Annual Report, Year Ended Mar 31, 2026

McKesson Corporation (MCK) reported strong financial performance for the fiscal year ended March 31, 2026, with revenues increasing by 12% to $403.4 billion and diluted earnings per share rising significantly to $38.38. This growth was driven by solid performance across its business segments, particularly in North American Pharmaceutical and Oncology & Multispecialty. The company also actively managed its capital, returning $5.1 billion to shareholders through share repurchases and dividends, and raised its quarterly dividend. Strategically, McKesson is advancing its business model through significant acquisitions in the Oncology & Multispecialty segment, including PRISM Vision and Core Ventures. Concurrently, the company announced its intention to separate its Medical-Surgical Solutions segment, entering into an agreement for Apollo Funds to acquire a minority interest, signaling a focused approach on core healthcare services. The company also reported no goodwill impairment and continued to manage its operational efficiencies through ongoing restructuring initiatives.

May 8, 2026 8-K

MCKESSON CORP 8-K Report, Financial Results (May 7, 2026)

McKesson reported fiscal 2026 fourth-quarter and full-year results on May 7, 2026, showing strong top-line and earnings growth. Full-year revenue rose 12% to $403.4 billion, GAAP diluted EPS was $38.38 (up 49%), and Adjusted EPS was $39.11 (up 18%), above the company's long-range growth targets. Fourth-quarter Adjusted EPS of $11.69 grew 16%, helped by Oncology & Multispecialty acquisitions, a lower share count, and a lower tax rate. Full-year operating cash flow was $6.2 billion and Free Cash Flow was $5.4 billion, while the company returned $5.1 billion to shareholders through $4.8 billion of buybacks and $381 million of dividends. Management guided fiscal 2027 Adjusted EPS to $43.80 to $44.60, implying 12% to 14% growth, and reaffirmed its long-term Adjusted EPS growth target of 13% to 16%. The Board raised the share repurchase authorization by $5.0 billion to a total of $7.7 billion, and the company entered a $2.25 billion accelerated share repurchase program. Portfolio actions continued, including the completed exit from European operations, a pending sale of a roughly 13% minority stake in the Medical-Surgical Solutions segment to Apollo Global ahead of its planned separation, and initial separation financing of a $1.0 billion term loan and $1.0 billion revolver. Investors should note that GAAP results were boosted by a $480 million pre-tax gain on the Norway sale, which is excluded from Adjusted results, and that the company does not provide GAAP EPS guidance. Quarter-end balance sheet data show total deficit of $(1.8) billion, reflecting heavy buybacks, and the filing lists risks including opioid-related litigation, the Medical-Surgical separation, and acquisition integration. Figures are preliminary and unaudited.

May 7, 2026 8-K

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.

Apr 28, 2026 8-K

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.

Apr 6, 2026 8-K

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.

Mar 6, 2026 8-K

MCKESSON CORP 8-K Report, Executive Changes (Mar 5, 2026)

McKesson (NYSE: MCK) announced in an 8-K filed March 5, 2026 that CFO Britt Vitalone will retire. His last day as CFO is May 28, 2026, he remains an employee through July 1, 2026, and then becomes a non-employee advisor at a $50,000 monthly fee under an Advisor Agreement effective July 2, 2026. Kenny K. Cheung, most recently CFO of Sysco and previously CFO of Hertz, will succeed him as EVP and CFO effective May 29, 2026. The one-day gap between Vitalone's last day and Cheung's start date is a minor transition detail to note. Cheung's pay package is substantial: a $3.5 million sign-on bonus (subject to prorated clawback if he leaves before the second anniversary of hire), $6.0 million in sign-on RSUs, a $1.05 million base salary, a 125% target bonus under the Management Incentive Plan, and ongoing equity of $3.45 million in FY2027–2029 PSUs and $2.3 million in RSUs. The sign-on and annual equity grants are typical for a senior CFO hire at this scale and signal the company's intent to secure experienced finance leadership, though the filing itself does not comment on performance expectations. The press release frames the transition as orderly. Management credits Vitalone with financial discipline, capital allocation, and shareholder engagement, and notes his continued role as a strategic advisor during the planned separation of the Medical Surgical Solutions segment. The release also highlights record third-quarter revenue and adjusted operating profit, driven by oncology, multispecialty, and biopharma services and core distribution. Investors should watch how the separation of Medical Surgical Solutions is executed under new finance leadership.

Mar 5, 2026 8-K

MCKESSON CORP 8-K Report, Financial Results (Feb 4, 2026)

McKesson (MCK) reported fiscal Q3 2026 results (quarter ended December 31, 2025) that beat on the strength of its core distribution businesses. Revenue rose 11% to $106.2 billion, GAAP diluted EPS climbed 38% to $9.59 (helped by a $160 million pre-tax Rite Aid bankruptcy credit that is excluded from adjusted results), and Adjusted EPS grew 16% to $9.34. Operating income rose 32% to $1.62 billion, and nine-month revenue grew 15% to $307.1 billion. Growth was led by the Oncology & Multispecialty segment, where revenue rose 37% and adjusted segment operating profit rose 57%, and by North American Pharmaceutical, where revenue rose 9%. Medical-Surgical Solutions was the weak spot, with adjusted segment operating profit down 10%. Cash generation was solid, with quarterly free cash flow of $1.1 billion and nine-month free cash flow of $2.2 billion. Management returned $2.4 billion to shareholders over nine months through $2.1 billion of buybacks and $280 million of dividends. Balance sheet leverage increased: cash fell to $3.0 billion from $5.7 billion at March 31, 2025, long-term debt rose to $5.4 billion, and total stockholders' deficit improved only modestly. Acquisitions consumed $3.4 billion of cash over the nine months, mainly in oncology. Management raised and narrowed FY2026 Adjusted EPS guidance to $38.80–$39.20 from $38.35–$38.85, implying 17–19% growth. The guidance includes $0.09 of year-to-date gains from McKesson Ventures. Key strategic updates include the January 30, 2026 close of the Norwegian divestiture, which completes the exit from Europe, and the ongoing preparation to separate the Medical-Surgical Solutions segment as an independent company.

Feb 4, 2026 10-Q

MCKESSON CORP Quarterly Report for Q3 Ended Dec 31, 2025

McKesson Corporation reported strong financial performance for the period ending December 30, 2025. Total revenues saw a significant increase of 11% for the quarter and 15% for the nine-month period compared to the prior year, driven by robust growth in the North American Pharmaceutical and Oncology & Multispecialty segments. Diluted earnings per share (EPS) also showed substantial improvement, rising to $9.59 for the quarter and $24.73 for the nine months, reflecting a 38% and 57% increase, respectively. The company completed two strategic acquisitions during the period: PRISM Vision Holdings, LLC for $875 million and Community Oncology Revitalization Enterprise Ventures, LLC for $2.5 billion, both aimed at strengthening its Oncology & Multispecialty segment. These acquisitions, along with a renewed focus on operational efficiencies, are expected to contribute to future growth. McKesson also continued its capital return program, repurchasing $2.1 billion in common stock and increasing its quarterly dividend to $0.82 per share.

Feb 4, 2026 10-Q

MCKESSON CORP Quarterly Report for Q2 Ended Sep 30, 2025

McKesson Corporation reported robust financial performance for the second quarter and first half of fiscal year 2026. Revenues saw a significant increase of 10% and 16% year-over-year for the respective periods, driven by strong growth in the North American Pharmaceutical and Oncology & Multispecialty segments. Diluted Earnings Per Share (EPS) surged to $8.92 in Q2 and $15.16 for the first half, up substantially from the prior year, reflecting improved profitability. The company completed two significant acquisitions during the period, PRISM Vision Holdings, LLC and Community Oncology Revitalization Enterprise Ventures, LLC, further expanding its healthcare services capabilities. Despite increased investments in acquisitions and ongoing restructuring initiatives, McKesson demonstrated effective cost management, with total operating expenses decreasing by 20% and 9% for the quarter and half-year, respectively. The company also returned significant capital to shareholders through share repurchases ($1.4 billion in the first half) and a dividend increase. While facing some operational challenges, such as a provision for bad debts related to Rite Aid's bankruptcy, McKesson's strategic acquisitions and solid operational execution position it for continued growth and value creation for its investors.

Nov 6, 2025 8-K

MCKESSON CORP 8-K Report, Financial Results (Nov 5, 2025)

McKesson (MCK) reported fiscal Q2 2026 results (quarter ended September 30, 2025) with record quarterly revenue of $103.2 billion, up 10% year over year, and GAAP diluted EPS of $8.92 versus $1.87 a year ago. The GAAP comparison is distorted by a prior-year $643 million Canadian business remeasurement charge and a $227 million restructuring charge, so the more meaningful measure is Adjusted EPS of $9.86, up 39%. Adjusted Earnings rose 34% to $1.227 billion, helped by acquisitions, net gains in Oncology & Multispecialty from an investment sale and US Oncology Network market decisions, and a lower tax rate. The quarter's operating strength was broad. Oncology & Multispecialty revenue grew 32% to $12.0 billion and adjusted segment operating profit rose 71% to $397 million. North American Pharmaceutical revenue grew 8% to $86.5 billion with adjusted segment profit up 13%. Free cash flow was $2.2 billion for the quarter, though first-half free cash flow of $1.1 billion reflects heavy working-capital build and $3.4 billion of acquisition spending. Shareholder returns in the first half totaled $1.6 billion, including $1.4 billion of buybacks. Balance sheet changes include higher goodwill and intangibles from acquisitions, a rise in total debt to roughly $7.8 billion, and a stockholders' deficit that narrowed to $(1.7) billion. Management raised FY2026 Adjusted EPS guidance by $0.30 to $38.35 to $38.85, implying 16% to 18% growth, building on an $0.80 increase at the September Investor Day. GAAP EPS is not guided because items such as LIFO adjustments and litigation are not reasonably forecastable. The release also notes a pending agreement to sell the Norwegian retail and distribution businesses and an intention to separate the Medical-Surgical Solutions segment, which is referenced in the forward-looking statements.

Nov 5, 2025 8-K

MCKESSON CORP 8-K Report, Regulation FD Disclosure (Sep 23, 2025)

McKesson (MCK) used its September 23, 2025 Investor Day to raise and narrow its fiscal 2026 Adjusted EPS guidance to $38.05–$38.55, up from $37.10–$37.90. The midpoint rises by roughly $1.05, or about 2.8%, signaling management confidence in current operating momentum. The company also raised its long-term Adjusted EPS growth target to 13%–16%, from 12%–14%, citing strength in oncology, multispecialty, and biopharma solutions along with operating leverage and capital deployment discipline. The company is also reorganizing its reporting structure, which was announced September 18, 2025. It introduced new long-term Adjusted Segment Operating Profit growth targets: North American Pharmaceutical at 5%–8%, Oncology & Multispecialty at 13%–16%, and Prescription Technology Solutions at 10%–13%. The filing also references the planned separation of the Medical-Surgical Solutions segment into an independent company and the sale of its Norway businesses. These portfolio moves are central to the new segment framework, and investors will want to watch how they affect margins and capital allocation. The filing is furnished under Item 7.01 (Regulation FD) and is not deemed filed under the Exchange Act. GAAP guidance is not provided, because LIFO adjustments, litigation contingencies, and restructuring or impairment charges are difficult to forecast. Investors should therefore focus on the non-GAAP framework and the risk factors cited, including opioid-related litigation, which remains a material exposure. The next catalyst is the Q2 fiscal 2026 earnings release on November 5, 2025.

Sep 23, 2025 8-K

MCKESSON CORP 8-K Report, Financial Results (Sep 18, 2025)

McKesson (MCK) filed an 8-K on September 18, 2025 to announce a segment reorganization effective in the second quarter of fiscal 2026. Starting then, the company will report four reportable segments: North American Pharmaceutical, Oncology & Multispecialty, Prescription Technology Solutions, and Medical-Surgical Solutions. Norwegian operations move to Other, and Corporate captures administrative costs and certain investments. The company states the change reflects how the CEO, as chief operating decision maker, now allocates resources and assesses performance. It did not affect previously issued consolidated financial statements or historical diluted EPS, so this is a presentation change rather than a change in reported results. To help investors compare periods, the company furnished Exhibit 99.1 with recast historical segment data for the five quarters from June 30, 2024 through June 30, 2025 and for fiscal 2025 and 2024. On a GAAP basis, fiscal 2025 revenue was $359.1 billion and income before interest and taxes was $4.6 billion. Adjusted (non-GAAP) operating profit was $5.6 billion, up from $4.9 billion in fiscal 2024. The exhibit shows North American Pharmaceutical as the dominant contributor, with $304.5 billion of fiscal 2025 revenue. Prescription Technology Solutions has the highest margin, at roughly 18% adjusted in fiscal 2025. Two strategic items are also disclosed. On May 2025, McKesson announced plans to separate the Medical-Surgical Solutions segment into an independent company. On August 4, 2025, it agreed to sell its Norwegian distribution and retail businesses, subject to customary closing conditions and regulatory approvals. The 8-K itself does not include new earnings guidance.

Sep 18, 2025 10-Q

MCKESSON CORP Quarterly Report for Q1 Ended Jun 30, 2025

McKesson Corporation reported strong revenue growth of 23% for the second quarter of fiscal year 2025, reaching $97.8 billion, primarily driven by its U.S. Pharmaceutical segment. Despite this top-line expansion, net income attributable to McKesson Corporation saw a decrease of 14% to $784 million, resulting in diluted earnings per share of $6.25, down from $7.00 in the prior year period. This decline is partly attributed to a $189 million provision for bad debts related to the Rite Aid bankruptcy and increased operating expenses associated with recent significant acquisitions. The company completed two major acquisitions during the quarter: PRISM Vision Holdings, LLC for $874 million and Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures) for $2.5 billion. These acquisitions, along with increased investments in technology, contributed to a rise in operating expenses and a significant use of cash in investing activities. McKesson also returned $671 million to shareholders through share repurchases and dividends, and announced an increase in its quarterly dividend to $0.82 per share.

Aug 6, 2025 8-K

MCKESSON CORP 8-K Report, Financial Results (Aug 6, 2025)

McKesson (MCK) reported fiscal 2026 first-quarter results (quarter ended June 30, 2025) with revenue of $97.8 billion, up 23% year over year, driven mainly by U.S. Pharmaceutical volume growth from retail national accounts and growth in oncology and specialty distribution, including acquisitions. GAAP diluted EPS fell 11% to $6.25 from $7.00, primarily because of a $189 million pre-tax bad debt provision tied to the Rite Aid bankruptcy. Adjusted diluted EPS rose 5% to $8.26 from $7.88, supported by strong operating growth across segments and partly offset by a higher tax rate and the absence of a prior-year $110 million McKesson Ventures gain. Management raised its fiscal 2026 Adjusted EPS guidance to $37.10-$37.90 from $36.90-$37.70, implying 12%-15% growth, with about $0.20 of the increase attributed to held-for-sale accounting for the pending Norway divestiture. Cash generation was weak in the quarter. Operating cash flow was negative at $918 million, capital expenditures were $189 million, and free cash flow was negative $1.1 billion. The company spent $3.4 billion on acquisitions, including PRISM Vision (80% stake, closed April 1, 2025) and Core Ventures (70% stake, closed June 2, 2025), which added to the Oncology and Specialty platform. Cash returned to shareholders totaled $671 million, comprising $581 million in buybacks and $90 million in dividends. The Board raised the quarterly dividend 15% to $0.82 per share, the ninth consecutive annual increase. Investors will likely focus on whether the Rite Aid exposure is contained, the sustainability of free cash flow after acquisitions, and the strategic updates expected at the September 23, 2025 Investor Day. The filing also disclosed an August 4, 2025 agreement to sell McKesson's Norwegian retail and distribution businesses to NorgesGruppen, which is subject to regulatory approval, and reiterated management's stated intent to separate the Medical-Surgical Solutions segment into an independent company. Segment performance was mixed: U.S. Pharmaceutical adjusted operating profit grew 17%, Prescription Technology Solutions rose 21%, and Medical-Surgical Solutions rose 22% on cost optimization, while International adjusted profit declined 3% after the Canadian retail divestiture. GAAP-based figures excluded the Rite Aid charge from adjusted results, which is a key judgment investors should weigh when assessing earnings quality.

Aug 6, 2025 8-K

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.

Aug 1, 2025 8-K

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.

Jun 9, 2025 8-K

MCKESSON CORP 8-K Report, Financial Obligation (May 30, 2025)

McKesson Corporation (MCK) completed a $2.0 billion senior unsecured notes offering, with the notes issued May 30, 2025 under its existing February 2023 indenture. The offering consisted of $650 million of 4.650% notes due 2030, $650 million of 4.950% notes due 2032, and $700 million of 5.250% notes due 2035. The Company received approximately $1,989.7 million in net proceeds after the underwriting discount, before estimated offering expenses. Pricing was tight to Treasuries, at spreads of roughly +60 to +80 basis points, which suggests solid investor demand for MCK credit. The primary purpose of the offering is to fund the acquisition of a 70% controlling interest in Community Oncology Revitalization Enterprise Ventures, LLC (CORE Ventures), an internal business and administrative services organization established by Florida Cancer Specialists & Research Institute, LLC. The Company intends to fund the deal with the note proceeds, cash on hand, and/or commercial paper borrowings. The filing does not disclose the purchase price, so investors cannot yet gauge the acquisition's size relative to the company's cash flows or the effect on leverage. The notes are unsecured and rank equally with the Company's other unsecured senior debt, and they carry customary covenants on liens and sale-leaseback transactions, along with a 101% change-of-control put that is triggered only if the notes are also downgraded below investment grade by all rating agencies. From a capital structure perspective, the offering adds about $2.0 billion of fixed-rate debt with staggered maturities, extending McKesson's maturity profile. The pricing term sheet lists ratings of A3 (Stable) from Moody's, BBB+ (Positive) from S&P, and A- (Stable) from Fitch, which indicates a solid investment-grade profile. Investors should watch for the acquisition's financial terms and any resulting change in leverage or commercial paper usage in future filings.

May 30, 2025 10-K

MCKESSON CORP Annual Report, Year Ended Mar 31, 2025

McKesson Corporation's fiscal year 2025 performance demonstrated robust revenue growth, up 16% year-over-year, driven primarily by its U.S. Pharmaceutical segment, which saw increased volumes from retail national accounts and growth in specialty pharmaceuticals. The company also reported a significant increase in diluted earnings per share from continuing operations to $25.72, up from $22.39 in the prior year. Key financial events impacting the year included a $667 million charge related to the sale of its Canadian retail businesses and $298 million in restructuring charges for enterprise-wide efficiency initiatives. McKesson returned $3.5 billion to shareholders through share repurchases and dividends, underscoring its commitment to capital return. The company is actively managing significant legal and regulatory challenges, particularly those related to opioid litigation, for which it has accrued $6.4 billion in liabilities. While these are ongoing, the company's core pharmaceutical distribution and technology solutions segments appear to be performing well, evidenced by the revenue and EPS growth. Strategic investments in technology and ongoing efforts to drive operational efficiencies are key focus areas for future performance.

May 9, 2025 8-K

MCKESSON CORP 8-K Report, Financial Results (May 8, 2025)

McKesson reported fiscal Q4 and full-year 2025 results (quarter and year ended March 31, 2025) that beat its own momentum narrative on the bottom line. Q4 revenue rose 19% to $90.8 billion, GAAP diluted EPS was $10.01 (up 66%), and Adjusted EPS was $10.12 (up 64%), helped by a lower tax rate and strong operations. For the full year, revenue reached $359.1 billion (up 16%), GAAP diluted EPS was $25.72, and Adjusted EPS was $33.05 (up 20%). Free cash flow was $5.2 billion on $6.1 billion of operating cash flow, and the company returned $3.5 billion to shareholders through $3.1 billion of buybacks and $345 million of dividends. Investors should note that a meaningful share of the Adjusted EPS gain reflects non-GAAP adjustments, including a $667 million pre-tax remeasurement loss on the agreement to sell Canadian businesses, offset by antitrust settlement gains and a Rite Aid-related credit. The headline strategic item is the intent to separate the Medical-Surgical Solutions segment into an independent company ("NewCo"). Management frames the move as a way to focus capital on higher-growth, higher-margin Oncology and Biopharma Solutions and to unlock shareholder value, but the release gives no timing, structure, or financial details and says more will follow as the process progresses. For fiscal 2026, McKesson guided Adjusted EPS to $36.75 to $37.55, implying 11% to 14% growth (13% to 16% excluding fiscal 2025 McKesson Ventures gains). It reaffirmed its long-term Adjusted EPS growth target of 12% to 14%, raised the U.S. Pharmaceutical long-term Adjusted Segment Operating Profit growth target to 6% to 8%, and does not guide GAAP EPS. The filing is furnished under Item 2.02 and is therefore not deemed "filed" for Exchange Act Section 18 purposes. The release is preliminary, and the company will hold a conference call the same day at 4:30 PM ET.

May 8, 2025 10-Q

MCKESSON CORP Quarterly Report for Q3 Ended Dec 31, 2024

McKesson Corporation reported strong revenue growth for the third quarter and first nine months of fiscal year 2025, driven by its U.S. Pharmaceutical segment and increased volumes in its International segment. Diluted Earnings Per Share (EPS) saw a significant increase in the third quarter, though it slightly declined year-over-year for the nine-month period. The company also completed the divestiture of its Canadian retail businesses. Significant charges related to restructuring initiatives and remeasuring the Canadian retail disposal group to fair value were incurred. McKesson continues to manage its substantial opioid-related litigation liabilities, with significant payments made and a large accrued liability remaining. The company's financial position remains solid, supported by robust operating cash flow and access to credit facilities. McKesson continues to return capital to shareholders through dividends and substantial share repurchases, with a significant remaining authorization. Strategic acquisitions, including a controlling interest in PRISM Vision Holdings, are underway to further enhance its business segments. Investors should monitor ongoing litigation developments, particularly those related to opioids, and the integration of new acquisitions.

Feb 6, 2025 8-K

MCKESSON CORP 8-K/A Report, Financial Results (Feb 5, 2025)

This amended Form 8-K (filed to add a dated conformed signature to the original February 5, 2025 filing) furnishes McKesson's preliminary results for the fiscal 2025 third quarter ended December 31, 2024. Revenue rose 18% to $95.3 billion, driven mainly by U.S. Pharmaceutical prescription volumes and oncology growth. GAAP diluted EPS was $6.95, up sharply from $4.42, but that comparison is flattered by the prior-year Rite Aid bad-debt charge. Adjusted EPS was $8.03, up 4%, helped by operating growth and a lower share count and held back by a higher tax rate. Adjusted operating profit grew 16%. Management narrowed fiscal 2025 Adjusted EPS guidance to $32.55 to $32.95, from $32.40 to $33.00. The midpoint is essentially unchanged, and the range implies 19% to 20% growth. Of that guidance, $0.57 comes from year-to-date gains on McKesson Ventures equity investments, which investors should treat as lower-quality earnings. Cash generation was weak: operating cash flow was negative $1.7 billion and free cash flow was negative $2.2 billion for the nine months, largely due to working capital build in receivables and inventories. The company still returned $3.1 billion to shareholders through $2.8 billion of buybacks and $254 million of dividends. Strategically, McKesson agreed to acquire an 80% controlling interest in PRISM Vision Holdings, a provider of ophthalmology and retina management services, subject to regulatory clearance. It also closed the sale of its Canadian Rexall and Well.ca retail businesses on December 30, 2024. Two new directors, Lynne Doughtie and Dr. Julie Gerberding, joined the board, bringing it to 13 members.

Feb 5, 2025 8-K

MCKESSON CORP 8-K Report, Financial Results (Feb 5, 2025)

McKesson (MCK) reported preliminary fiscal Q3 2025 results for the quarter ended December 31, 2024, with consolidated revenues of $95.3 billion, up 18% year over year, driven mainly by U.S. Pharmaceutical volume growth and the oncology platform. GAAP diluted EPS was $6.95, up sharply from $4.42, but that comparison is flattered by the prior-year Rite Aid bad-debt charge. Adjusted diluted EPS was $8.03, up 4%, helped by a lower share count and operational growth but offset by a higher tax rate. GAAP net income attributable to McKesson fell 8% year to date to $2.0 billion, and the nine-month GAAP operating profit rose 10%. Management raised and narrowed fiscal 2025 Adjusted EPS guidance to $32.55-$32.95 from $32.40-$33.00, implying 19-20% growth. The guidance includes $0.57 of year-to-date gains from McKesson Ventures' equity investments, so the underlying raise is smaller than the headline suggests. Cash generation was weak: nine-month operating cash flow was negative $1.7 billion and free cash flow was negative $2.2 billion, driven by working capital build in receivables and inventories. Balance sheet data shows cash falling to $1.1 billion, short-term borrowings of $2.4 billion, and a stockholders' deficit, while the company returned $3.1 billion to shareholders year to date through $2.8 billion in buybacks and $254 million in dividends. Strategic activity included a definitive agreement to acquire an 80% controlling interest in PRISM Vision Holdings, a retina and ophthalmology management platform, and the December 30, 2024 closing of the sale of the Canadian Rexall and Well.ca retail businesses. The filing is a furnished (not filed) 8-K under Item 2.02, and the figures are unaudited and preliminary. Investors should weigh the strong top-line and adjusted earnings growth against negative free cash flow, reliance on non-GAAP adjustments, and the one-time items that shape the reported GAAP comparisons.

Feb 5, 2025 10-Q

MCKESSON CORP Quarterly Report for Q2 Ended Sep 30, 2024

McKesson Corporation reported its financial results for the second quarter and first half of fiscal year 2025. Total revenues saw a significant increase of 21% for the quarter and 14% for the six-month period, driven by growth in the U.S. Pharmaceutical segment and increased pharmaceutical distribution volumes internationally. However, diluted earnings per share decreased substantially, reflecting higher operating expenses and specific charges. Key items impacting the results include a substantial charge of $643 million related to the remeasurement of the Canadian retail disposal group to fair value less costs to sell. Additionally, the company incurred $227 million in restructuring charges for enterprise-wide technology modernization initiatives. The company also continues to manage its significant estimated liability for opioid-related claims, totaling $6.4 billion as of period end. Despite the earnings decline, McKesson demonstrated strong operational cash flow and continued to return capital to shareholders through share repurchases ($2.0 billion in the first half) and a raised quarterly dividend. The company also announced a significant acquisition in the oncology sector, pending regulatory approval.

Nov 7, 2024 8-K

MCKESSON CORP 8-K Report, Financial Results (Nov 6, 2024)

McKesson (MCK) reported fiscal Q2 2025 (quarter ended September 30, 2024) results that were strong at the top line and on Adjusted EPS, but GAAP results were weak due to a large one-time charge tied to the planned sale of its Canadian retail businesses. Consolidated revenue rose 21% to $93.7 billion, driven mainly by U.S. Pharmaceutical (revenue up 23% to $85.7 billion) on higher prescription volumes, specialty products, GLP-1 medications, and a new strategic partner. GAAP diluted EPS fell 62% to $1.87 from $4.92, reflecting a $643 million fair-value remeasurement loss on the Canadian divestiture and a $227 million charge for business rationalization, partly offset by a $203 million credit tied to the Rite Aid bankruptcy reserve reversal. Adjusted diluted EPS rose 13% to $7.07, aided by growth in U.S. Pharmaceutical and a 4% lower share count. Management raised its fiscal 2025 Adjusted EPS guidance to $32.40–$33.00 from $31.75–$32.55, implying 18%–20% growth. The company noted that the raised guidance includes $0.53 of year-to-date gains from McKesson Ventures equity investments, so part of the increase is non-operating in nature. Management also raised its full-year share repurchase target to $3.2 billion from $2.8 billion. Year-to-date free cash flow was $335 million, a sharp improvement from negative $351 million a year earlier, though cash from operations of $720 million was still modest relative to earnings and reflected heavy working-capital investment in receivables and inventories. Investors should weigh the strong Adjusted results against the GAAP earnings decline, the Canadian divestiture and its pending regulatory closing, and the quality of the guidance raise. The filing also disclosed two pending transactions: an agreement to acquire a controlling interest in Core Ventures (Florida Cancer Specialists & Research Institute), which expands McKesson's oncology platform, and an agreement to sell its Canada-based Rexall and Well.ca retail businesses. Both are subject to customary closing conditions, including regulatory clearance. Note that this 8-K furnishes the earnings release under Item 2.02 and is not deemed filed for Exchange Act Section 18 purposes.

Nov 6, 2024 8-K

MCKESSON CORP 8-K Report, Financial Obligation (Sep 10, 2024)

On September 10, 2024, McKesson Corporation (MCK) closed a $500 million offering of 4.250% senior unsecured notes due September 15, 2029, under its February 2023 indenture and an automatic shelf registration on Form S-3. The notes were priced at 99.946% of par, a yield to maturity of 4.262% (a spread of +72 bps over the 3.625% UST due August 2029). Net proceeds were approximately $498.0 million before offering expenses. McKesson plans to use the proceeds, together with cash on hand, to redeem all of its outstanding 5.250% notes due February 15, 2026, at 100% of principal plus accrued interest. The filing does not state the outstanding principal of those 2026 notes, so the size of the redemption is not disclosed. The transaction is primarily a liability management action. It refinances a 2026 maturity with a longer-dated 2029 note and extends McKesson's debt maturity profile. The new notes carry a make-whole call at Treasury plus 15 bps until August 15, 2029, and a par call thereafter. The indenture includes customary covenants limiting certain liens, sale-leaseback transactions, and consolidations or mergers or sales of substantially all assets, subject to exceptions. Holders also have a change-of-control put at 101% of principal, but only if a change of control and a ratings downgrade below investment grade by all rating agencies occur together. For investors, the key points are that the notes rank equally with McKesson's other unsecured, unsubordinated debt, and that the company's expected ratings (A3 / BBB+ / A-, all stable) are unchanged by this filing. The disclosure shows a modest increase in the coupon relative to the 2026 notes being retired, but it adds no new leverage beyond the principal amount. The filing does not include updated financial results or guidance, so investors should look to McKesson's periodic reports for the broader credit picture.

Sep 10, 2024 8-K

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.

Sep 5, 2024 8-K

MCKESSON CORP 8-K Report, Regulation FD Disclosure (Aug 26, 2024)

On August 26, 2024, McKesson (MCK) disclosed a definitive agreement to acquire a controlling interest (approximately 70%) in Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures), the business and administrative services organization of Florida Cancer Specialists & Research Institute (FCS). The purchase price is approximately $2.49 billion in cash, subject to customary adjustments. The unit purchase agreement was signed on August 25, 2024, with FCS and Core Ventures as counterparties. FCS is a physician-owned community oncology practice with more than 250 physicians, 280 advanced practice providers, and nearly 100 locations in Florida. FCS physicians will retain the remaining minority interest, and FCS will remain independently owned while joining McKesson's The US Oncology Network. Core Ventures will be reported within the US Pharmaceutical segment as part of the Oncology platform. The transaction remains subject to customary closing conditions, including regulatory review and clearances. Investors should weigh the strategic expansion of McKesson's oncology platform against the cash outlay, integration execution risk, and the possibility of delays or failure to close, as flagged in the filing's forward-looking statement cautions. The filing does not disclose expected earnings contribution, financing sources, or closing timing.

Aug 26, 2024 10-Q

MCKESSON CORP Quarterly Report for Q1 Ended Jun 30, 2024

McKesson Corporation reported total revenues of $79.3 billion for the fiscal second quarter ended June 30, 2024, a 6% increase compared to the prior year. This growth was primarily driven by its U.S. Pharmaceutical segment, benefiting from market growth in specialty pharmaceuticals and higher volumes. Despite revenue growth, net income attributable to McKesson Corporation saw a slight decrease to $915 million, or $7.00 per diluted share, down from $958 million, or $7.02 per diluted share, in the same period last year. This decline was influenced by increased operating expenses, particularly higher claims and litigation charges related to opioid settlements, and a decrease in gross profit margin. The company repurchased $528 million of its common stock and paid $82 million in dividends during the quarter, underscoring its commitment to returning capital to shareholders, with an additional $4.0 billion authorization for share repurchases approved in July 2024.

Aug 7, 2024 8-K

MCKESSON CORP 8-K Report, Financial Results (Aug 7, 2024)

McKesson (MCK) reported preliminary fiscal 2025 first-quarter results (quarter ended June 30, 2024) with revenues of $79.3 billion, up 6%, driven primarily by U.S. Pharmaceutical volume growth including specialty products, retail national accounts, and GLP-1 medications. GAAP diluted EPS was $7.00, essentially flat versus $7.02 a year ago, while Adjusted EPS rose 8% to $7.88. The adjusted gain was flattered by $110 million of pre-tax gains tied to McKesson Ventures' equity investments; management's fiscal 2025 Adjusted EPS guidance was nonetheless raised to $31.75–$32.55 from $31.25–$32.05, and the guidance includes roughly $0.62 from year-to-date Ventures gains, so investors should look through that contribution when judging underlying growth. The quarter had mixed underlying operating trends. Segment performance was uneven: Prescription Technology Solutions adjusted operating profit was flat as lower access-program contributions offset affordability growth, and Medical-Surgical Solutions adjusted operating profit fell 15% on weaker primary care volumes and customer mix. International adjusted operating profit rose 13% on Canadian distribution volumes. GAAP net income attributable to McKesson fell 4% to $915 million, and a $112 million claims and litigation charge tied to opioid-related claims from third-party payors weighed on GAAP results. Free cash flow was negative $1.5 billion, reflecting working capital investment in new customer onboarding and inventory build, with cash falling to $2.3 billion. Capital returns remained a focus. The Board raised the quarterly dividend 15% to $0.71 per share, the eighth consecutive annual increase, and added $4.0 billion to the buyback authorization for a total of $9.9 billion. In the quarter, McKesson repurchased $527 million of stock and paid $82 million in dividends, and diluted weighted-average shares fell 4% year over year to 130.7 million. The release is preliminary and furnished rather than filed under the Exchange Act, so investors should weigh the non-GAAP framing alongside the GAAP figures.

Aug 7, 2024 8-K

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.

Aug 2, 2024 8-K

MCKESSON CORP 8-K Report, Executive Changes (Jun 3, 2024)

McKesson Corporation (NYSE: MCK) filed this Form 8-K on June 3, 2024 to report a board change and related investor communication. The board elected Dr. Deborah Dunsire, a biopharmaceutical and oncology executive and former President and CEO of H. Lundbeck A/S, as a director effective June 3, 2024, appointing her to the Compensation and Talent Committee and Finance Committee. The filing also discloses that directors Linda Mantia and Susan Salka will not stand for re-election at the 2024 Annual Meeting of Shareholders, so their terms end at that meeting. For investors, this is a governance update rather than a financial event. The filing contains no financial results, guidance, or material transaction disclosures. The company states that upon election of all proposed nominees, the board will shrink to 11 members, 10 of whom are independent. Mantia is noted as no longer independent, so her departure modestly strengthens the board's independence profile. Dunsire's addition brings deep pharmaceutical and oncology expertise, which is relevant to McKesson's specialty pharmaceutical and healthcare distribution businesses. The disclosure is primarily informational. The main items to monitor are the 2024 Annual Meeting shareholder vote on the full slate of nominees and the composition of the Compensation and Talent and Finance Committees now that Dunsire has joined them. Because Item 7.01 information is furnished rather than filed, its content carries no Section 18 liability under the Exchange Act.

Jun 3, 2024 10-K

MCKESSON CORP Annual Report, Year Ended Mar 31, 2024

McKesson Corporation (MCK) has filed its 10-K for the fiscal year ended March 30, 2024, detailing its performance as a diversified healthcare services leader. The company reported increased revenues, primarily driven by its U.S. Pharmaceutical segment, which benefited from growth in specialty pharmaceuticals and higher volumes. However, diluted earnings per share saw a decrease compared to the prior year, impacted by a significant provision for bad debts related to the bankruptcy of its customer, Rite Aid. Mckesson continues to manage various legal and regulatory matters, including significant opioid-related litigation, which resulted in a substantial charge for the current fiscal year. Despite these challenges, the company returned considerable capital to shareholders through share repurchases and dividends, underscoring its commitment to shareholder value. The company also highlighted its ongoing investments in technology and operational efficiencies across its four main business segments: U.S. Pharmaceutical, Prescription Technology Solutions, Medical-Surgical Solutions, and International.

May 8, 2024 8-K

MCKESSON CORP 8-K Report, Financial Results (May 7, 2024)

McKesson reported preliminary fiscal 2024 fourth-quarter and full-year results for the period ended March 31, 2024. Fourth-quarter revenue rose 11% to $76.4 billion, driven by U.S. Pharmaceutical volume growth, including specialty products, retail national accounts, and GLP-1 medications. GAAP diluted EPS from continuing operations was $6.02, up $0.31 year over year. Adjusted EPS fell 14% to $6.18, reflecting a higher tax rate that more than offset a lower share count and U.S. Pharmaceutical growth. For the full year, revenue grew 12% to $309.0 billion and Adjusted EPS grew 6% to $27.44, while GAAP EPS from continuing operations fell 11% to $22.39. The GAAP decline reflects a $725 million pre-tax Rite Aid bad-debt provision that management excluded from adjusted results, along with other items. Cash generation remained solid. Operating cash flow was $4.3 billion and free cash flow was $3.6 billion, down from $4.6 billion a year earlier. McKesson returned $3.3 billion to shareholders, including $3.0 billion in buybacks and $314 million in dividends. For fiscal 2025, management guided to Adjusted EPS of $31.25 to $32.05, implying 14% to 17% growth. The company does not provide GAAP EPS guidance because it cannot reliably forecast items such as LIFO adjustments and litigation contingencies. Investors should focus on the adjusted-to-GAAP gap, the tax rate trajectory, and whether the Rite Aid charge and opioid-related claims recur.

May 7, 2024 10-Q

MCKESSON CORP Quarterly Report for Q3 Ended Dec 31, 2023

McKesson Corporation reported an increase in revenues for the third quarter and first nine months of fiscal year 2024, driven by strong performance in its U.S. Pharmaceutical segment, particularly in specialty pharmaceuticals and retail national accounts. Despite revenue growth, gross profit saw a slight decrease due to the impact of the European divestiture and increased operating expenses. Diluted earnings per share from continuing operations experienced a significant decline year-over-year, largely influenced by a substantial provision for bad debts related to the bankruptcy of its customer, Rite Aid. The company's financial position remains solid, with active capital allocation strategies including significant share repurchases and dividend payments. McKesson is managing its debt effectively and has a substantial remaining authorization for stock buybacks. However, investors should note the ongoing legal proceedings, particularly those related to opioid litigation, which represent a significant contingent liability. The company continues to navigate these challenges while focusing on operational efficiencies and strategic growth.

Feb 8, 2024 8-K

MCKESSON CORP 8-K Report, Financial Results (Feb 7, 2024)

McKesson reported fiscal Q3 2024 (quarter ended December 31, 2023) revenue of $80.9 billion, up 15% year over year, driven mainly by U.S. Pharmaceutical volume growth from specialty products, retail national accounts, and GLP-1 medications. Adjusted diluted EPS rose 12% to $7.74, helped by a lower tax rate and a lower share count. GAAP diluted EPS from continuing operations fell 42% to $4.42, primarily because of a $515 million pre-tax bad debt provision tied to the Rite Aid bankruptcy and a $126 million prior-year benefit from the Change Healthcare tax receivable agreement termination. Management raised its fiscal 2024 Adjusted EPS guidance to $27.25-$27.65 from $26.80-$27.40, implying 5% to 7% growth. The quality of the quarter is mixed. Nine-month operating cash flow fell to $167 million from $1.834 billion, and free cash flow was negative $251 million, driven by higher receivables and inventories. McKesson still returned $2.6 billion to shareholders in the first nine months, including $2.3 billion of buybacks, and diluted shares outstanding fell about 5% year over year. Cash declined to $1.98 billion from $4.68 billion at March 31, 2023, and short-term borrowings and long-term debt both increased. Investors should weigh the Rite Aid write-off, the weak year-to-date cash generation, and the reliance on buybacks against the solid underlying segment growth. The 8-K furnishes these preliminary results under Item 2.02 and states they are not deemed filed for Exchange Act purposes.

Feb 7, 2024 8-K

MCKESSON CORP 8-K Report, Executive Changes (Jan 9, 2024)

McKesson Corporation (NYSE: MCK) filed this 8-K on January 9, 2024 to report three items, none of which are financially material on their face. The most notable governance event is the election of Kevin Ozan to the Board of Directors effective January 8, 2024. Ozan is a former CFO and senior executive of McDonald's with a background in finance, strategy, and investor relations, and he joins the Audit and Finance Committees. The Board expands from 11 to 12 members, with 11 of 12 directors independent. He receives the standard non-employee director compensation package: a prorated $115,000 annual cash retainer and prorated RSUs under the 2022 Stock Plan. The filing also discloses that McKesson acquired Compile, a healthcare data platform that aggregates US healthcare data to profile providers and their patient panels, on January 4, 2024. Management frames the deal as a way to build a centralized commercial data platform and expand its capabilities in selling data-driven insights to biopharma customers. The filing does not disclose the purchase price, deal size, or expected financial contribution, so investors cannot yet assess its impact on earnings or valuation. The release also announces a presentation at the 42nd Annual J.P. Morgan Healthcare Conference on January 9, 2024. For investors, this is a low-impact filing. The director appointment strengthens the board's finance expertise, and the Compile acquisition extends McKesson's data and analytics business, which is a strategic growth area. Materiality is unclear without the purchase price. The release's forward-looking risk factors remain the same, including opioid litigation, cybersecurity, and integration risk from acquisitions.

Jan 9, 2024 8-K

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.

Nov 7, 2023 10-Q

MCKESSON CORP Quarterly Report for Q2 Ended Sep 30, 2023

McKesson Corporation reported strong revenue growth for the first six months of fiscal year 2024, with revenues increasing by 10% to $151.7 billion compared to the prior year period. This growth was primarily driven by the U.S. Pharmaceutical segment, which saw higher volumes and price increases, as well as growth in the Prescription Technology Solutions segment. However, net income attributable to McKesson Corporation decreased by 4% to $1.62 billion for the six-month period, resulting in diluted earnings per share of $11.95, a slight increase from $11.68 in the prior year. The decrease in net income was impacted by a significant provision for bad debts related to Rite Aid's bankruptcy and a notable discrete tax benefit in the prior year. The company continues to manage substantial opioid-related litigation liabilities, with an accrued liability of $6.6 billion as of September 30, 2023. McKesson demonstrated a commitment to returning capital to shareholders, repurchasing $1.5 billion in common stock and paying $149 million in dividends during the first six months of fiscal year 2024. The company also increased its quarterly dividend and maintained a substantial remaining authorization for share repurchases, signaling confidence in its ongoing financial health and future prospects.

Nov 2, 2023 8-K

MCKESSON CORP 8-K Report, Financial Results (Nov 1, 2023)

McKesson reported preliminary fiscal Q2 2024 results (quarter ended September 30, 2023) that were mixed on the surface but above expectations on an adjusted basis. Total revenue rose 10% to $77.2 billion, driven by U.S. Pharmaceutical volume growth, including retail national accounts, specialty products, and GLP-1 medications. GAAP diluted EPS from continuing operations fell 24% to $4.92, mainly because of a $210 million bad debt provision tied to the Rite Aid bankruptcy. Adjusted EPS rose 3% to $6.23, and Adjusted EPS Excluding Certain Items rose 14% to $6.29. Management raised fiscal 2024 Adjusted EPS guidance to $26.80–$27.40 from $26.55–$27.35, a modest raise at the low end. The quality of earnings and cash flow deserve investor attention. Year-to-date operating cash flow was negative at $87 million, and free cash flow was negative $351 million, driven by working capital build in receivables and inventories. Management still returned $1.7 billion to shareholders in the first half, including $1.5 billion of buybacks, which were funded in part by a decline in cash from $4.7 billion to $2.5 billion and a rise in long-term debt to $5.5 billion. Segment performance was uneven: U.S. Pharmaceutical adjusted operating profit grew 8%, Prescription Technology Solutions grew 48%, Medical-Surgical declined 17%, and International fell 32% on an FX-adjusted basis following European divestitures. Governance news was also disclosed. Chief Legal Officer Lori Schechter will retire in June 2024 and move to a Board and Enterprise Risk Advisor role on January 1, 2024. Michele Lau, currently CLO at GoDaddy and a former McKesson legal executive, will succeed her as EVP and Chief Legal Officer effective January 1, 2024. The earnings release is furnished under Items 2.02 and 7.01 and is not deemed filed for Exchange Act purposes.

Nov 1, 2023 8-K

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.

Oct 16, 2023 8-K

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.

Oct 3, 2023 8-K

MCKESSON CORP 8-K Report, Financial Results (Aug 2, 2023)

McKesson (MCK) reported fiscal 2024 first-quarter results (quarter ended June 30, 2023) with total revenues of $74.5 billion, up 11% year over year, driven primarily by U.S. Pharmaceutical volume growth including specialty and GLP-1 products, partially offset by the divestiture of its European businesses. GAAP diluted EPS from continuing operations was $7.02, up from $5.25, and Adjusted EPS was $7.27, up 25%, helped by a lower tax rate, a lower share count, and growth in U.S. Pharmaceutical and Prescription Technology Solutions. Adjusted EPS also benefited from a $118 million pre-tax gain from antitrust legal settlements, which is excluded from the non-GAAP figure but is a one-time item that flatters GAAP results. Management raised its fiscal 2024 Adjusted EPS guidance to $26.55 to $27.35, up from $26.10 to $26.90, citing strong first-quarter performance and North American outlook. Management also approved a $6.0 billion increase to the buyback authorization, bringing total remaining capacity to $8.9 billion, and raised the quarterly dividend 15% to $0.62 per share. Investors should note weak cash generation in the quarter: operating cash flow was negative $1.1 billion and free cash flow was negative $1.2 billion, driven by working capital build in receivables and inventories, while the company still returned $770 million to shareholders. Cash fell to $2.6 billion from $4.7 billion, and total deficit remains negative, so near-term cash conversion is a key watch item. This filing is a furnished 8-K under Item 2.02 and the quarterly figures are preliminary. Segment results show U.S. Pharmaceutical adjusted operating profit up 8% (14% excluding COVID-19 vaccine distribution comparisons), Prescription Technology Solutions adjusted profit up 35%, Medical-Surgical Solutions adjusted profit down 12%, and International revenue down 44% on an FX-adjusted basis following divestitures.

Aug 2, 2023 10-Q

MCKESSON CORP Quarterly Report for Q1 Ended Jun 30, 2023

McKesson Corporation (MCK) reported strong revenue growth of 11% year-over-year for the quarter ending June 29, 2023, reaching $74.5 billion. This increase was primarily driven by robust performance in the U.S. Pharmaceutical segment, benefiting from market growth, higher volumes, and specialty pharmaceutical expansion. Despite flat gross profit, operating expenses saw a 3% decrease, contributing to a significant 24% rise in income from continuing operations to $997 million. Diluted earnings per share (EPS) from continuing operations also saw a substantial increase, growing by 34% to $7.02. The company demonstrated effective capital management, returning $770 million to shareholders through $696 million in stock repurchases and $74 million in dividends. Management also announced an increase in the quarterly dividend and a significant expansion of its share repurchase authorization, signaling confidence in future financial performance. While the company faces ongoing litigation, particularly related to opioid claims, the overall financial health appears solid, supported by consistent revenue generation and disciplined expense management.

Aug 2, 2023