McKesson, the drug distributor based in Irving, Texas, is scheduled to announce its fiscal first-quarter earnings on Wednesday after the market closes. Here are the key details you should know:
Revenue Expectations
According to FactSet, McKesson is expected to report revenue of $70.28 billion for the quarter, showing growth from $67.15 billion in the same period last year.
Adjusted Earnings Forecast
Analysts predict that McKesson will post adjusted earnings of $5.87 per share, compared to $5.83 per share in the previous year.
Net Income Outlook
FactSet estimates that McKesson’s net income for the quarter will be $707.6 million, lower than the $766 million reported in the prior-year period.
What to Monitor:
Outlook:
Investors will be closely observing whether McKesson will make any revisions to its outlook for 2024. The company previously forecasted adjusted earnings per share between $26.10 and $26.90 for the fiscal year. Additionally, it mentioned that the impact of Covid-19 related items, such as tests, will have minimal effects on its fiscal 2024 results.
Divestiture:
Keep an eye out for updates regarding the divestiture of McKesson’s European businesses. In the previous quarter, the company successfully divested businesses in 11 out of 12 countries; however, it is still exploring alternatives for Norway.
