Mckesson Corp (MCK) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, March 31, 2020

Home SEC Filings Mckesson Corp (MCK) 10-K Annual Report Fri May 22 2020

Exhibit 99.1


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McKESSON REPORTS FISCAL 2020 FOURTH-QUARTER AND FULL-YEAR RESULTS

Fourth-Quarter Highlights, Year-over-Year:
•
Total revenues of $58.5 billion, reflecting 12% growth.
•
Earnings per diluted share increased by $9.99 to $5.82.
•
Adjusted Earnings per diluted share of $4.27, an increase of 16%.

Full-Year Highlights:
•
Total revenues of $231.1 billion, reflecting 8% growth.
•
Earnings per diluted share increased by $4.82 to $4.99.
•
Adjusted Earnings per diluted share of $14.95, an increase of 10%.
•
Cash flow from operations of $4.4 billion and free cash flow of $3.9 billion.
•
Returned $2.2 billion of cash to shareholders through share repurchases and dividends.

Fiscal 2021 Outlook:
•
Adjusted Earnings per diluted share guidance range of $13.95 to $14.75.
•
Fiscal 2021 guidance reflects impacts from the COVID-19 pandemic and investments.
•
McKesson expects Adjusted Earnings per diluted share growth in the second half of fiscal 2021.
•
Long-term fundamentals remain solid; continuing to execute strategic growth initiatives.

IRVING, Texas, May 20, 2020 - McKesson Corporation (NYSE:MCK) today reported results for the fourth quarter and fiscal year ended March 31, 2020.

Fiscal 2020 Fourth-Quarter and Year-to-Date Result Summary
 
 
Fourth-Quarter
 
Year-to-Date
($ in millions, except per share amounts)
 
FY20
 
FY19
 
Change
 
FY20
 
FY19
 
Change
Revenues
 
$
58,535

 
$
52,429

 
12
%
 
$
231,051

 
$
214,319

 
8
%
Income (loss) from
continuing operations1
 
1,015

 
(796
)
 
228

 
906

 
33

 
 NM

Adjusted Earnings1,2
 
745

 
707

 
5

 
2,716

 
2,674

 
2

Earnings (loss) per diluted share1
 
5.82

 
(4.17
)
 
240

 
4.99

 
0.17

 
 NM

Adjusted Earnings per diluted share1,2
 
4.27

 
3.69

 
16

 
14.95

 
13.57

 
10

1Reflects continuing operations attributable to McKesson, net of tax
2Represents a non-GAAP financial measure; refer to the reconciliations of non-GAAP financial measures included in accompanying schedules

“McKesson delivered a strong finish to fiscal 2020, reflecting continued momentum in the business and meaningful progress in our transformation towards becoming a more focused organization as we look to capture future growth opportunities,” said Brian Tyler, chief executive offer. “During fiscal 2020, we achieved adjusted operating profit growth in all three operating segments, generated $3.9 billion of free cash flow, and successfully completed the exit of our investment in Change Healthcare.”
    

1
The following information was filed by Mckesson Corp (MCK) on Wednesday, May 20, 2020 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: MCK
CIK: 927653
Form Type: 10-K Annual Report
Accession Number: 0000927653-20-000033
Submitted to the SEC: Fri May 22 2020 8:38:58 AM EST
Accepted by the SEC: Fri May 22 2020
Period: Tuesday, March 31, 2020
Industry: Wholesale Drugs Proprietaries And Druggists Sundries

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