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McKesson Tops Profit Estimates, Raises Outlook

Tuesday, 25 Oct 2011 04:54 PM

McKesson Corp reported higher-than-expected quarterly profit and revenue on growth in both of its divisions, and the pharmaceutical wholesaler raised its full-year earnings forecast.

Excluding items, such as a $118 million charge to increase litigation reserves, McKesson earned $1.63 per share. Analysts on average expected $1.39, according to Thomson Reuters I/B/E/S.

Based on what it said was momentum from its first half results, McKesson boosted its earnings forecast by 10 cents and now expects to earn $6.19 to $6.39 per share for the fiscal year ending March 31, 2012.

The San Francisco-based company posted a net profit of $296 million, or $1.18 per share, for its fiscal second quarter ended Sept. 30, compared with a profit of $327 million, or $1.25 per share, a year ago.

Revenue for the quarter rose 10 percent to $30.22 billion, topping Wall Street estimates of $29.48 billion.

© 2017 Thomson/Reuters. All rights reserved.

   
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McKesson Corpreported higher-than-expected quarterly profit and revenue on growth in both of its divisions, and the pharmaceutical wholesaler raised its full-year earnings forecast. Excluding items, such as a $118 million charge to increase litigation reserves, McKesson...
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Tuesday, 25 Oct 2011 04:54 PM
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