MCKESSON CORP Q3 FY2026 earnings call

Brian discussed company priorities, including people and culture, strategic growth pillars (oncology, multispecialty, biopharma services). Britt reviewed financials, noting record quarterly revenue and adjusted operating profits, raised full-year EPS guidance. Mentioned divestiture of Norway operations, held-for-sale accounting impact, and segment results

North American Pharmaceutical: Revenues $88.3B, +9% driven by higher prescription volume; GLP-1 distribution revenues $14B, +26% Y/Y. Segment operating profit +6%. Oncology and Multispecialty: Revenues $13B, +37% driven by provider growth, expanded specialty distribution, and acquisitions; operating profit +57%. Prescription Technology Solutions: Revenues $1.5B, +9%; operating profit +18%. Medical-Surgical Solutions: Revenues $3B, +1%; operating profit -10%

Raised full-year EPS guidance to $38.80 - $39.20 (17-19% Y/Y growth). Anticipate revenue growth 12-16% and operating profit growth 13-17%. North American Pharmaceutical: Revenue +10-14%, operating profit +8-12%. Oncology and Multispecialty: Revenue +29-33%, operating profit +51-55%. Prescription Technology Solutions: Revenue +9-13%, operating profit +14-18%

Q: About technology investments in annual verification season and longer-term margin improvement; A: Talked about AI and tech tools improving workflows.

Q: On 2027 guidance and oncology/multi specialty margins; A: Mentioned stable trends, specialty growth, and mix variability.

Q: On regulatory front and distributor value prop; A: Spoke about constructive conversations with manufacturers, monitoring MFN, and navigable policy landscape.

Q: On cap deployment and growth investments; A: Reiterated capital allocation framework of investing back in business, both internally and via acquisitions.

Q: On RxTS segment drivers and GLP-1 impact; A: Talked about breadth of product portfolio, annual program growth, and early days of oral GLP-1 launch