Last10K.com

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

Mckesson Corp

CIK: 927653 Ticker: MCK

Exhibit 99.1

mckessonlogoa031a.jpg


McKESSON REPORTS FISCAL 2021 SECOND-QUARTER RESULTS

Second-Quarter Highlights, Year-over-Year:
Total revenues of $60.8 billion, reflecting 6% growth.
Earnings per diluted share increased by $7.53 to $3.54.
Adjusted Earnings per diluted share of $4.80, an increase of 33%.
Completed joint venture of German wholesale business with Walgreens Boots Alliance on November 1, 2020.

Fiscal 2021 Guidance:
Increased fiscal 2021 Adjusted Earnings per diluted share guidance range to $16.00 to $16.50, from the previous range of $14.70 to $15.50.

IRVING, Texas, November 3, 2020 - McKesson Corporation (NYSE:MCK) today reported results for the second quarter ended September 30, 2020.

Fiscal 2021 Second-Quarter Result Summary
Second-Quarter
Year-to-Date
($ in millions, except per share amounts)FY21FY20ChangeFY21FY20Change
Revenues$60,808 $57,616 %$116,487 $113,344 %
Income from Continuing Operations1
577 (729)179 1,022 (300)441 
Adjusted Earnings1,2
784 661 19 1,237 1,286 (4)
Earnings per Diluted Share1
3.54 (3.99)189 6.26 (1.62)486 
Adjusted Earnings per Diluted Share1,2
4.80 3.60 33 7.58 6.91 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

“The dedication and execution of our teams continue to deliver outstanding results, responding to the evolving needs of our customers,” said Brian Tyler, chief executive officer. “Our strong second-quarter earnings results reflect the breadth of McKesson’s differentiated portfolio and further improvement in volumes across the business. At the same time, we continue to invest into the business to support our long-term growth strategies. Based on our year-to-date performance, we are raising our guidance range for fiscal 2021 and now expect Adjusted Earnings per diluted share of $16.00 to $16.50. With our steadfast commitment to our communities and those in need, we will continue to play a critical role in the fight against the global COVID-19 pandemic.”

Second-quarter revenues were $60.8 billion, up 6% from a year ago, driven by growth in the U.S. Pharmaceutical segment, largely due to market growth and higher volumes from retail national account customers, partially offset by branded to generic conversions.

Second-quarter Earnings per diluted share of $3.54 included a GAAP-only pre- and post-tax goodwill impairment charge of $69 million recorded in connection with the segment realignment and a GAAP-only after-tax charge of $37 million for an estimated liability related to the New York State Opioid Stewardship Act. Second-quarter Adjusted Earnings per diluted share does not include these charges.




The following information was filed by Mckesson Corp (MCK) on Tuesday, November 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.

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 2020 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
M & A
Other
Filter Subcategory:
All
Expense
Earnings
Product
Geography
Shares
Income
Debt
Cash Flow
Other
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 (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: 0000927653-20-000093
Submitted to the SEC: Tue Nov 03 2020 9:07:59 AM EST
Accepted by the SEC: Tue Nov 03 2020
Period: Wednesday, September 30, 2020
Industry: Wholesale Drugs Proprietaries And Druggists Sundries

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/mck/0000927653-20-000093.htm