McKesson Corporation 8-K

Summary

Q2 FY2027 results with FY2027 Adjusted Earnings per Diluted Share (non-GAAP) guidance raised. Higher prescription volumes and specialty-product distribution lifted revenue 8% Y/Y; stronger operating growth across North American Pharmaceutical, Oncology & Multispecialty, and Prescription Technology Solutions, along with a lower share count, drove adjusted diluted earnings per share up 18% Y/Y.

FY2027 adjusted diluted earnings per share guidance was raised to $45.60-$46.40 from $44.20-$45.00, implying 17%-19% growth Y/Y. Management cited business strength and confidence in consistent execution.

Developments

• Extended McKesson’s pharmaceutical distribution partnership with CVS Health through 6/2032.
• Agreed to invest ≈$1.4B for an ≈49% minority interest in Option Care Health, supporting McKesson’s strategy in complex specialty therapies and community-based care. Closing is subject to customary conditions, including stockholder and regulatory approvals.
• Completed the acquisition of Precision Medicine Group, a global provider of clinical research and biopharma commercialization services, on 11/2/2026 to advance McKesson’s oncology, multispecialty, and biopharma services strategy.
• PRISM Vision Group added Spectrum Vision Partners on 11/2/2026, bringing in more than 150 providers and expanding its network to more than 350 providers.

Key Figures

• North American Pharmaceutical revenue rose 6% Y/Y to $91.4B, with adjusted segment operating profit up 22% to $1.04B, driven by specialty-product distribution to health systems and strategic accounts. Oncology & Multispecialty revenue rose 24% to $15.0B and adjusted segment operating profit rose 8% to $427M, on growth in provider solutions and specialty distribution.
• Prescription Technology Solutions revenue rose 10% Y/Y to $1.52B and adjusted segment operating profit rose 18% to $307M, driven by access solutions. Medical-Surgical Solutions revenue rose 5% to $3.10B, while adjusted segment operating profit fell 10% to $225M, reflecting lower ambulatory-care contributions from product mix.
• Adjusted diluted earnings per share exceeded GAAP diluted EPS ($11.68 vs $10.44); transaction-related expenses reduced adjusted EPS by $0.68, including $46M in pre-tax costs related to the planned Medical-Surgical Solutions separation. Restructuring, impairment, and related charges were $85M pre-tax.
• YTD shareholder returns were $3.6B, including $3.42B of common-stock repurchases and $198M of dividends; diluted weighted-average shares fell 6% Y/Y. Cash and cash equivalents were $6.53B at 9/30/2026, vs $3.98B at 3/31/2026; current and long-term debt carrying amounts totaled $9.21B, vs $6.53B.

Guidance

Guidance changes, derived from earlier filings

Metric	Period	Earlier guidance	Guidance now	Change
Adjusted Earnings per Diluted Share (non-GAAP)	FY2027	$44.20-$45.00; 13%-15% Y/Y growth	$45.60-$46.40; 17%-19% growth Y/Y	raised