The Irving, Texas-based distributor posted a net income of $1.19 billion, or $9.59 per share, a significant climb from the $879 million reported during the same period last year. On an adjusted basis, earnings reached $9.34 per share, surpassing the $9.17 mark anticipated by analysts polled by FactSet. Total revenue hit $106.16 billion, as the company benefited from increased demand across its retail national account customers.
In section Market Quotes
McKesson Lifts Profit Forecast on Surging Specialty Drug Sales
McKesson Corp. raised its annual profit outlook on Wednesday after reporting an 11% jump in third-quarter revenue, driven by robust prescription volumes and a 37% surge in its specialty drug distribution business.
Growth in Specialty Segments
Performance was particularly strong in the oncology and multispecialty distribution segment, which saw revenue surge 37%. Other divisions also maintained upward momentum, with the core North American pharmaceutical segment growing 9% and prescription technology solutions rising 9%. In contrast, the medical-surgical solutions unit saw a modest 1% increase.Following the strong quarterly performance, McKesson management raised its full-year adjusted earnings guidance to a range of $38.80 to $39.20 per share. This marks an increase from the previous forecast of $38.35 to $38.85, signaling continued confidence in the pharmaceutical supply chain's resilience and the growing demand for complex therapies.
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