Medical Supplies-Focused McKesson Shares Fall On Q3 Earnings Performance, Analyst Says Street ‘Wanted More’

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Wednesday, McKesson Corporation (NYSE:MCK) reported that third-quarter 2024 sales of $80.9 billion increased 15%, beating the consensus of $77.86 billion.

Revenue increases were primarily driven by growth in the U.S. Pharmaceutical segment, resulting from increased prescription volumes, including higher volumes from specialty products, retail national account customers, and GLP-1 medications (used to treat diabetes and obesity), partially offset by lower revenues in the International segment as a result of divestitures within McKesson’s European business.

Adjusted EPS reached $7.74, up 12% Y/Y, beating the consensus of $7.05.

U.S. Pharmaceutical Segment revenues were $73.0 billion, up 18%, driven by increased prescription volumes, including higher volumes from specialty products, retail …

Full story available on Benzinga.com


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