McKesson (MCK): Q3 2020 Earnings Snapshot

— McKesson Corporation (NYSE: MCK) reported its third-quarter 2020 adjusted earnings of $3.81 per share versus $3.56 per share expected.

— Total revenue rose by 5% to $59.17 billion versus $59.36 billion expected.

— On an FX-adjusted basis, revenues grew by 6%, primarily driven by growth in the US Pharmaceutical and Specialty Solutions segment, largely due to branded pharmaceutical price increases and higher volumes from retail national account customers.

— Revenues from the US Pharma segment increased by 6% driven by branded pharmaceutical price increases and increased volumes from retail national account customers.

— European Pharmaceutical Solutions segment revenue remained flat on a reported basis and up 3% on an FX-adjusted basis, driven primarily by growth in the pharmaceutical distribution business.

— Revenue from the Medical-Surgical Solutions segment increased by 6% driven by higher pharmaceutical volumes and an early start to the influenza season.

— The company reaffirmed fiscal 2020 adjusted EPS guidance range of $14.60–14.80. The consensus estimates EPS of $14.70 for the full year.

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