For the fourth quarter McKesson reported earnings of $2.55 a share, beating the Capital IQ Consensus Estimate of $2.40 a share by 15 cents. Revenue grew 24.4% from the year-ago quarter to $38.1 billion. Analysts expected revenue of $35.9 billion for the quarter.
"I am pleased with our fourth-quarter results led by solid execution across the Distribution Solutions and Technology Solutions segments," chairman and CEO John H. Hammergren said in a press release. "For the full year, we had strong growth in adjusted earnings, up 31% from the prior year, and a record year for operating cash flow generated by the business. These results were driven primarily by outstanding performance in the Distribution Solutions segment and disciplined working capital management across the company."
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TheStreet Ratings team rates MCKESSON CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MCKESSON CORP (MCK) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."