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Mckesson Corp (MCK) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Mckesson Corp

CIK: 927653 Ticker: MCK

Exhibit 99.1

 

LOGO

McKESSON REPORTS FISCAL 2020 FIRST-QUARTER RESULTS

 

   

First-quarter fiscal 2020 revenues of $55.7 billion, an increase of 6%.

 

   

First-quarter GAAP earnings per diluted share from continuing operations of $2.27, up 429% year over year.

 

   

First-quarter Adjusted Earnings per diluted share of $3.31, up 14% year over year.

 

   

Raised fiscal 2020 Adjusted EPS guidance range to $14.00 to $14.60 from $13.85 to $14.45.

 

   

Board of Directors increased the quarterly dividend by 5% to 41 cents per share.

IRVING, Texas, July 31, 2019 – McKesson Corporation (NYSE:MCK) today reported that revenues for the first quarter ended June 30, 2019, were $55.7 billion compared to $52.6 billion a year ago, an increase of 6% on a reported basis and an increase of 7% on an FX-adjusted basis.

On the basis of U.S. generally accepted accounting principles (“GAAP”), first-quarter earnings per diluted share from continuing operations was $2.27, compared to a loss per diluted share of $(0.69) a year ago.

First-quarter Adjusted Earnings per diluted share was $3.31, an increase of 14% compared to $2.90 a year ago, primarily driven by growth in the U.S. Pharmaceutical and Specialty Solutions segment and a lower share count, partially offset by a higher tax rate.

“McKesson is off to a strong start in fiscal 2020, and our first-quarter earnings performance exceeded our expectations,” said Brian Tyler, chief executive officer. “Based on the momentum from our first-quarter results and our confidence in the full year outlook, we are raising our previous guidance range for fiscal 2020 and now expect Adjusted Earnings per diluted share of $14.00 to $14.60.”

 

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The following information was filed by Mckesson Corp (MCK) on Wednesday, July 31, 2019 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.

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Inside Mckesson Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Parentheticals) (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical) (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Business Combinations
Business Combinations (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)
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)
Equity Method Investment In Change Healthcare Joint Venture
Equity Method Investment In Change Healthcare Joint Venture (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)
Hedging Activities
Hedging Activities (Tables)
Hedging Activities - Derivative Instruments Fair Value (Details)
Hedging Activities - Narrative (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Details)
Leases (Tables)
Leases - Components Of Lease Cost (Details)
Leases - Maturity Of Lease Liabilities (Details)
Leases - Schedule Of Future Minimum Rental Payments Under Operating Leases (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (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: 0000927653-19-000015
Submitted to the SEC: Wed Jul 31 2019 2:13:10 PM EST
Accepted by the SEC: Thu Aug 01 2019
Period: Sunday, June 30, 2019
Industry: Wholesale Drugs Proprietaries And Druggists Sundries

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