McKesson said that for the 3 months ended June 30, 2024, revenues increased 6% from the prior-year period, gross profit increased 4%, and total operating expenses increased 10%. Diluted earnings per common share attributable to McKesson Corporation decreased slightly to $7.00 from $7.02 a year earlier.

1. 01

   McKesson said that for the 3 months ended June 30, 2024, revenues increased 6% from the prior-year period, gross profit increased 4%, and total operating expenses increased 10%. Diluted earnings per common share attributable to McKesson Corporation decreased slightly to $7.00 from $7.02 a year earlier.

2. 02

   The company said it recognized a charge of $114 million related to its estimated liability for opioid-related claims for the 3 months ended June 30, 2024. It said the total estimated litigation liability payable under opioid-related claim settlements as of June 30, 2024 was $6.9 billion.

3. 03

   The company said that during the quarter it recognized a net discrete tax benefit of $125 million, including $58 million related to an election to change the tax status of a foreign affiliate. It also recognized a net gain of $97 million related to a recapitalization of an equity investment and received $90 million in its share of antitrust legal settlements.

4. 04

   The company said it returned a total of $609 million to shareholders during the quarter, consisting of $527 million in common stock repurchases and $82 million in dividend payments, and that cash used in operating activities was $1.4 billion. In July 2024, its Board of Directors increased the repurchase authorization by $4.0 billion and raised the quarterly dividend to $0.71 per share.

Key figures

Quarter ended June 30, 2024

Revenue

$79.3B

Operating income

$1.0B

Net income

$915M

EPS

$7.00

Gross profit

$3.2B

Operating cash flow

−$1.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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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