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Mckesson Corp (MCK) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Mckesson Corp

CIK: 927653 Ticker: MCK

Exhibit 99.1

mckessonlogoa0311.jpg


McKESSON REPORTS FISCAL 2021 FIRST-QUARTER RESULTS

First-Quarter Highlights, Year-over-Year:
Total revenues of $55.7 billion, flat year-over-year.
Earnings per diluted share increased 20% to $2.72.
Adjusted Earnings per diluted share decreased 16% to $2.77.
Board of Directors increased the quarterly dividend to 42 cents per share.

Fiscal 2021 Guidance:
Increased fiscal 2021 Adjusted Earnings per diluted share guidance range to $14.70 to $15.50, from the previous range of $13.95 to $14.75.
McKesson continues to expect Adjusted Earnings per diluted share growth in the second half of fiscal 2021.

IRVING, Texas, August 3, 2020 -
McKesson Corporation (NYSE:MCK) today reported results for the first quarter ended June 30, 2020.

Fiscal 2021 First-Quarter Result Summary
First-Quarter
($ in millions, except per share amounts)FY21FY20Change
Revenues$55,679  $55,728  — %
Income from Continuing Operations1
445  429   
Adjusted Earnings1,2
453  625  (28) 
Earnings per Diluted Share1
2.72  2.27  20  
Adjusted Earnings per Diluted Share1,2
2.77  3.31  (16) 
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

“I am proud of the dedication and discipline of McKesson’s employees as we navigate the complexities and uncertainties of the COVID-19 pandemic while continuing to serve our customers and our communities” said Brian Tyler, chief executive officer. “Thanks to the strong execution of our employees around the world, McKesson delivered first-quarter results ahead of our original expectations, as volumes across the business improved earlier than anticipated. Based on our first-quarter performance and current outlook for the remainder of the year, we are raising our previous guidance range for fiscal 2021 and now expect Adjusted Earnings per diluted share of $14.70 to $15.50”.

First-quarter revenues were $55.7 billion, flat year-over-year, as market growth and higher volumes from retail national account customers within the U.S Pharmaceutical and Specialty Solutions segment were largely offset by the impact of lower prescription volumes and primary care patient visits across the enterprise.



The following information was filed by Mckesson Corp (MCK) on Monday, August 3, 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-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
Condensed Consolidated Balance Sheets (Parentheticals)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Equity
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities - Narrative (Details)
Debt And Financing Activities
Debt And Financing Activities (Tables)
Debt And Financing Activities - Commercial Paper (Details)
Debt And Financing Activities - Long-Term Debt Narrative (Details)
Debt And Financing Activities - Revolving Credit Facilities (Details)
Debt And Financing Activities - Schedule Of Long-Term Debt (Details)
Earnings Per Common Share
Earnings Per Common Share (Tables)
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)
Hedging Activities
Hedging Activities (Tables)
Hedging Activities - Derivative Instruments Fair Value (Details)
Hedging Activities - Narrative (Details)
Held For Sale
Held For Sale (Tables)
Held For Sale - Assets And Liabilities Held For Sale (Details)
Held For Sale - Narrative (Details)
Income Taxes
Income Taxes (Details)
Investment In Change Healthcare Joint Venture
Investment In Change Healthcare Joint Venture (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)
Restructuring, Impairment And Related Charges
Restructuring, Impairment And Related Charges (Tables)
Restructuring, Impairment And Related Charges - Narrative (Details)
Restructuring, Impairment And Related Charges - Summary Of Restructuring Activity (Details)
Restructuring, Impairment And Related 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)

Material Contracts, Statements, Certifications & more

Mckesson Corp provided additional information to their SEC Filing as exhibits

Ticker: MCK
CIK: 927653
Form Type: 10-Q Quarterly Report
Accession Number: 0000927653-20-000061
Submitted to the SEC: Mon Aug 03 2020 4:19:50 PM EST
Accepted by the SEC: Mon Aug 03 2020
Period: Tuesday, June 30, 2020
Industry: Wholesale Drugs Proprietaries And Druggists Sundries

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