McKesson (NYSE:MCK) earnings for fiscal fourth quarter of 2020 have MCK stock up on Wednesday. That’s thanks to its adjusted earnings per share (EPS) of $4.27, which is above Wall Street’s estimate of $4.08. Its revenue of $58.54 billion is also better than analysts’ estimates of $55.58 billion.
Let’s take a more in-depth look at the most recent McKesson earnings report below.
- Adjusted per-share earnings are up 16% from $3.69 during fiscal Q4 2019.
- Revenue for the quarter is 12% higher than the $52.43 billion reported in the same period of the year prior.
- Operating income of $869 million is a major increase year-over-year from an operating loss of $569 million.
- The McKesson earnings report also has it bringing in a net income of $1.08 billion.
- That’s a massive boost compared to the company’s net loss of $744 million from the same time last year.
Brian Tyler, CEO of McKesson, said this in the current earnings report:
“During fiscal 2020, we achieved adjusted operating profit growth in all three operating segments, generated $3.9 billion of free cash flow, and successfully completed the exit of our investment in Change Healthcare. As we enter fiscal 2021, McKesson is leveraging our expertise, leadership and scale to play a critical role in the fight against the COVID-19 pandemic.”
McKesson also includes its fiscal 2021 outlook in the earnings report. This has it expecting adjusted EPS ranging from $13.95 to $14.75. That doesn’t stack up well next to Wall Street’s estimate of $15.46 per share.
MCK stock was up 1.2% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.