McKesson Corporation (MCK) Earnings
McKesson Corporation is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $9.63. MCK has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +3.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $11.56 | $11.69 | +1.1% | $96.3B | -5.0% |
| Feb 4, 2026 | $9.17 | $9.34 | +1.9% | $106.2B | +0.3% |
| Nov 5, 2025 | $9.03 | $9.86 | +9.2% | $103.2B | -0.9% |
| Aug 6, 2025 | $8.14 | $8.26 | +1.5% | $97.8B | +1.7% |
| May 8, 2025 | $9.83 | $10.12 | +3.0% | $90.8B | -3.7% |
| Feb 5, 2025 | $8.60 | $8.03 | -6.6% | $95.3B | -0.8% |
| Feb 7, 2024 | $7.04 | $7.74 | +9.9% | $80.9B | +3.8% |
| Nov 1, 2023 | $6.15 | $6.23 | +1.3% | $77.2B | +1.7% |
| Aug 2, 2023 | $5.87 | $7.27 | +23.9% | $74.5B | +6.0% |
| Feb 1, 2023 | $6.35 | $6.90 | +8.7% | $70.5B | -0.8% |
| Nov 1, 2022 | $6.09 | $6.06 | -0.5% | $70.2B | -0.1% |
| Aug 3, 2022 | $5.28 | $5.83 | +10.4% | $67.2B | +3.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Fiscal 2026 saw adjusted earnings per diluted share grow 18%, operating cash flow $6.2 billion, and $5.1 billion returned to shareholders. • Added Core Ventures and Prism Vision to oncology and multi-specialty platforms. • Made progress on separating medical surgical solution segment, including financing transactions and Apollo investment. • Completed exit from Norway. • Introduced new reporting segments. • Oncologymulti-specialty platform growth: US Oncology Network added 570 providers, Prism Vision increased providers ~20%. • Biopharma services platform: Supported 3.4 million patients, each full-time employee supported 120 more patients vs prior year. • North American distribution: Launched new Montreal Distribution Center, AI-driven inventory planning.
Guidance
• Fiscal 2027 adjusted earnings per diluted share range $43.80 - $44.60. • North American Pharmaceutical: Revenue +4% - 8%, operating profit +5.5% - 9.5%. • Oncology and multispecialty: Revenue +14.5% - 18.5%, operating profit +13.5% - 17.5%. • Prescription technology solution: Revenue +2.5% - 6.5%, operating profit +11% - 15%. • Medical surgical solutions: Fiscal 2027 revenue +1 - 6%, operating profit flat to +4%. • Free cash flow ~$4.5 - $4.9 billion; plan to repurchase ~$5 billion of shares.
Segment performance
North American Pharmaceutical: Revenues $79.1 billion, +3% y-o-y; Segment operating profit $980 million, +11%. Oncology and multispecialty: Revenues $12.7 billion, +35% y-o-y; Operating profit $385 million, +53%. Prescription technology solution: Revenues $1.5 billion, +12% y-o-y; Operating profit $322 million, +13%. Medical surgical solutions: Revenues $2.9 billion, +1% y-o-y; Operating profit $271 million, -5%.
Analyst Q&A
Q: Alan Letts on RXTS segment growth and GLP-1 in prior authorization business.
A: RXTS revenue composition with 3PL ~55%, operating profit strong due to access programs. GLP-1 distribution revenue up 22% y-o-y but down 4% q-o-q, access solutions demand still high.
Q: Lisa Gill on oncology and multispecialty guidance, weather impact.
A: Weather in Jan had no full quarter impact. Oncology and multispecialty lapping Prism and Core Ventures acquisitions, organic growth ~13%, guide at upper long-term target range.
Q: Erin Wright on North American pharmaceutical utilization and specialty products.
A: Utilization stable, specialty products growing, health systems strong, guide at upper long-term range.
Q: Brian Tanquillette on GLP in access solutions sustainability.
A: Distribution and technology solution growth strong, access solutions demand high, category continues to grow.
Q: Michael Cherney on MSO onboarding CORE Ventures and services expansion.
A: Expand provider network with value proposition, use technology for efficiency and insights, grow ONTATA and clinical trials engagement.
Q: Elizabeth Anderson on biosimilar shifts and impact.
A: Biosimilars win-win-win, Part B channel most attractive, 89 approved, 72 launched, continue to add choice and lower cost.
Q: Glenn Santangelo on biosimilar transition impact on distribution.
A: Biosimilars between generics and brands, network effects help drive adoption, create value for manufacturers.
Q: Daniel Grosslight on free cash flow and M&A in 2027.
A: 2027 free cash flow guide strong, investing in business for efficiency, capital deployment pillars: growth, return capital to shareholders, maintain investment grade rating, M&A on strategy with good returns.
Q: Charles Reed on North America Pharma guide and AOI growth.
A: Lapping large customer and Rite Aid revenue, branded pricing impact, adjusted operating profit growth due to specialty pharmaceuticals growth and operating efficiency.