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McKesson Raises Profit Outlook on Strong Q1
6 Aug
Summary
- McKesson's annual profit forecast was increased.
- First-quarter earnings surpassed analyst expectations.
- Oncology and specialty drug businesses drove performance.
Drug distributor McKesson announced on Wednesday that it has raised its annual profit forecast. This positive revision follows a first-quarter performance that exceeded earnings estimates. The company's robust performance was largely attributed to the strength observed in its oncology and specialty drug businesses.
McKesson now projects its fiscal 2027 adjusted profit to be in the range of $44.20 to $45 per share. This marks an increase from the company's earlier projection, which anticipated profits between $43.80 and $44.60 per share. Current analyst expectations, as compiled by LSEG, were for a profit of $44.26 per share, indicating the company's updated guidance aligns well with or surpasses market predictions.
