AP NEWS

McKesson: Fiscal 3Q Earnings Snapshot

February 4, 2020 GMT

IRVING, Texas (AP) _ McKesson Corp. (MCK) on Tuesday reported fiscal third-quarter net income of $186 million.

The Irving, Texas-based company said it had profit of $1.03 per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $3.81 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.54 per share.

The prescription drug distributor posted revenue of $59.17 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $59.42 billion.

McKesson expects full-year earnings in the range of $14.60 to $14.80 per share.

McKesson shares have risen 6% since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 1%. The stock has increased 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCK at https://www.zacks.com/ap/MCK