Last10K.com

Mckesson Corp (MCK) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Mckesson Corp

CIK: 927653 Ticker: MCK

Exhibit 99.1

 

LOGO

McKESSON REPORTS FISCAL 2019 SECOND-QUARTER RESULTS

 

   

Revenues of $53.1 billion for the second quarter, up 2% year over year.

 

   

Second-quarter GAAP earnings per diluted share from continuing operations of $2.51.

 

   

Second-quarter Adjusted Earnings per diluted share of $3.60, up 10% year over year.

 

   

Fiscal 2019 Outlook: Adjusted Earnings of $13.20 to $13.80 per diluted share.

 

   

Previously announced multi-year strategic growth initiative operating model optimization anticipated to drive approximately $300 million to $400 million in annual savings by end of Fiscal 2021.

SAN FRANCISCO, October 25, 2018 – McKesson Corporation (NYSE:MCK) today reported that revenues for the second quarter ended September 30, 2018, were $53.1 billion, up 2% compared to $52.1 billion a year ago, and also up 2% on a constant currency basis. On the basis of U.S. generally accepted accounting principles (“GAAP”), second-quarter earnings per diluted share from continuing operations was $2.51, compared to earnings per diluted share of $0.01 a year ago. GAAP earnings per diluted share included a pre-tax benefit of $90 million, or $0.33 per diluted share, related to a reversal of a contractual liability associated with McKesson’s equity investment in Change Healthcare. Prior year GAAP earnings per diluted share included $2.60 per diluted share of non-cash goodwill and other long-lived asset impairment charges, and restructuring charges.

Second-quarter Adjusted Earnings per diluted share was $3.60, up 10% compared to $3.28 a year ago, primarily driven by a lower tax rate, including a discrete tax benefit of $42 million, or $0.21 per diluted share, and the aforementioned reversal of a contractual liability, partially offset by the previously announced customer losses in our U.S. Pharmaceutical business, incremental challenges in our businesses in the U.K. and France, and increased litigation expenses related to opioids.

 

1


The following information was filed by Mckesson Corp (MCK) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Mckesson Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Mckesson Corp.

Continue

Assess how Mckesson Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Mckesson Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
Legal
Other
Filter Subcategory:
All
Earnings
Expense
Shares
Product
Geography
Income
Cash Flow
Debt
Other
Inside Mckesson Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parentheticals)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Business Combinations
Business Combinations (Details)
Business Combinations (Tables)
Business Combinations - Fair Value Of Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities - Narrative (Details)
Debt And Financing Activities
Debt And Financing Activities - Commercial Paper (Details)
Debt And Financing Activities - Long Term Debt (Details)
Debt And Financing Activities - Revolving Credit Facilities (Details)
Divestitures
Divestitures - Narrative (Details)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Narrative (Details)
Earnings Per Common Share - Schedule Of Computation For Basic And Diluted Earnings Per Common Share (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Narrative - Intangible Assets (Details)
Goodwill And Intangible Assets, Net - Schedule Of Changes In The Carrying Amount Of Goodwill And Narrative (Details)
Goodwill And Intangible Assets, Net - Schedule Of Information Regarding Intangible Assets (Details)
Goodwill Impairment Charges
Goodwill Impairment Charges (Details)
Healthcare Technology Net Asset Exchange
Healthcare Technology Net Asset Exchange (Details)
Hedging Activities
Hedging Activities (Tables)
Hedging Activities - Derivative Instruments Fair Value (Details)
Hedging Activities - Narrative (Details)
Income Taxes
Income Taxes (Details)
Pension Benefits
Pension Benefits - Narrative (Details)
Redeemable Noncontrolling Interests And Noncontrolling Interests
Redeemable Noncontrolling Interests And Noncontrolling Interests (Tables)
Redeemable Noncontrolling Interests And Noncontrolling Interests - Narrative (Details)
Redeemable Noncontrolling Interests And Noncontrolling Interests - Schedule Of Changes In Redeemable Noncontrolling Interests And Noncontrolling Interests (Details)
Related Party Balances And Transactions
Related Party Balances And Transactions (Details)
Restructuring And Asset Impairment Charges
Restructuring And Asset Impairment Charges (Tables)
Restructuring And Asset Impairment Charges - Narrative (Details)
Restructuring And Asset Impairment Charges - Summary Of Restructuring Activity (Details)
Restructuring And Asset Impairment Charges - Summary Of Restructuring Charges (Details)
Segments Of Business
Segments Of Business (Details)
Segments Of Business (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies Narrative (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Schedule Of Changes In Accumulated Other Comprehensive Income (Loss) By Component (Details)
Stockholders' Equity - Schedule Of Other Comprehensive Income (Loss), Net Of Tax (Details)
Ticker: MCK
CIK: 927653
Form Type: 10-Q Quarterly Report
Accession Number: 0000927653-18-000020
Submitted to the SEC: Thu Oct 25 2018 4:06:46 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Wholesale Drugs Proprietaries And Druggists Sundries

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/mck/0000927653-18-000020.htm