McKesson said third-quarter revenue for the quarter ended December 31, 2023 rose 15% to $80.9 billion. Earnings per diluted share from continuing operations were $4.42, down $3.23. Adjusted Earnings per Diluted Share rose 12% to $7.74.

1. 01

   McKesson said third-quarter revenue for the quarter ended December 31, 2023 rose 15% to $80.9 billion. Earnings per diluted share from continuing operations were $4.42, down $3.23. Adjusted Earnings per Diluted Share rose 12% to $7.74.

2. 02

   The company cited a pre-tax increase to the provision for bad debts of $515 million in the U.S. Pharmaceutical segment related to the Rite Aid bankruptcy, and a prior-year pre-tax benefit of $126 million tied to the termination of the Change Healthcare tax receivable agreement, as factors in the decline in third-quarter earnings per diluted share from continuing operations.

3. 03

   McKesson said it raised its fiscal 2024 Adjusted Earnings per Diluted Share outlook to $27.25 to $27.65 from the previous range of $26.80 to $27.40. The company said it does not provide GAAP outlook.

4. 04

   McKesson said it generated operating cash flow of $167 million and invested $418 million in capital expenditures over the first 9 months of its fiscal year, resulting in negative Free Cash Flow of $251 million. It returned $2.6 billion to shareholders over the same period, including $2.3 billion in common stock repurchases.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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