Financial Data and Key Metrics Changes - The company reported consolidated revenues of $106.2 billion, an increase of 11% year-over-year, driven by broad-based growth across the business [21][28] - Adjusted earnings per diluted share increased 16% to $9.34, reflecting strong operational performance [22][28] - Operating profit rose 13% year-over-year to $1.7 billion, supported by increased demand for access solutions and strong growth in specialty distribution [22][28] Business Line Data and Key Metrics Changes - North American Pharmaceutical revenues increased by 9% to $88.3 billion, driven by higher prescription volumes and specialty product distribution strength [23][28] - Oncology and Multispecialty segment revenues surged 37% to $13 billion, with operating profit increasing 57% to $366 million, aided by provider growth and acquisitions [24][28] - Prescription Technology Solutions revenues grew by 9% to $1.5 billion, with operating profit rising 18% to $277 million, driven by demand for access solutions [25][28] Market Data and Key Metrics Changes - GLP-1 distribution revenues reached $14 billion, up $3 billion or 26% compared to the prior year, indicating strong market demand [23][28] - The company anticipates revenue growth of 12%-16% and operating profit growth of 13%-17% for fiscal 2026, reflecting sustained momentum across core businesses [28][29] Company Strategy and Development Direction - The company is focused on two strategic growth pillars: Oncology and Multispecialty, and Biopharma Services, aiming to leverage its scale and connectivity in the community space [7][9] - Investments are being made in technology and automation to enhance operational efficiency and improve patient access to medications [11][12] - The company is progressing with the separation of its Medical-Surgical business, targeting an IPO by the second half of calendar 2027 [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to extend momentum and execute against strategic priorities, highlighting a strong financial position and disciplined capital allocation [18][36] - The operating environment is viewed as navigable despite regulatory changes, with ongoing engagement with lawmakers to advocate for patient access and community care [68][69] Other Important Information - The company completed the divestiture of its Norwegian operations, marking the final step in its exit from Europe, which is expected to contribute approximately $1 billion in revenue for fiscal 2026 [20][28] - Free cash flow for the quarter was $1.1 billion, with a total of $9.6 billion for the trailing 12 months, demonstrating strong operational performance [26][27] Q&A Session Summary Question: Can you discuss the specific investments in technology and automation? - Management highlighted investments in AI and automation to improve workflows, resulting in increased productivity during the annual verification season [39][40] Question: What is the long-term opportunity to improve margins in the segment? - Management noted that half of the segment's revenue is related to third-party logistics, with ongoing automation expected to enhance margins [43][44] Question: Any nuances to consider for fiscal 2027 guidance? - Management indicated stable utilization trends and strong specialty distribution growth, with a focus on operational efficiency as positive indicators for future performance [50][51] Question: What is driving the margin improvement in Oncology and Multispecialty? - Management attributed margin improvements to provider additions and growth in specialty oncology products, with ongoing automation efforts expected to further enhance margins [55][57] Question: How is the company navigating regulatory changes? - Management expressed confidence in navigating the regulatory landscape, emphasizing constructive discussions with manufacturing partners regarding pricing strategies [68][69]

Financial Data and Key Metrics Changes - The company reported consolidated revenues of $106.2 billion, an increase of 11% year-over-year, driven by broad-based growth across the business [21][28] - Adjusted earnings per diluted share increased 16% to $9.34, reflecting strong operational performance [22][28] - Operating profit rose 13% year-over-year to $1.7 billion, supported by increased demand for access solutions and strong growth in specialty distribution [22][28] Business Line Data and Key Metrics Changes - North American pharmaceutical revenues increased by 9% to $88.3 billion, driven by higher prescription volumes and specialty product distribution strength [23][28] - Oncology and multispecialty segment revenues surged by 37% to $13 billion, with operating profit increasing by 57% to $366 million, aided by provider growth and acquisitions [24][28] - Prescription technology solutions revenues grew by 9% to $1.5 billion, with operating profit rising 18% to $277 million, driven by demand for access solutions [25][28] - Medical-surgical solutions revenues increased by 1% to $3 billion, but operating profit decreased by 10% to $265 million due to lower volumes [25][28] Market Data and Key Metrics Changes - GLP-1 distribution revenues reached $14 billion, up $3 billion or 26% compared to the prior year, indicating strong demand in the market [23][28] - The company continues to see stable utilization trends and strong specialty distribution growth across its North American pharmaceutical segment [29][30] Company Strategy and Development Direction - The company is focused on two strategic growth pillars: oncology and multispecialty, and biopharma services, leveraging its scale and leadership to meet evolving market needs [7][8] - Investments are being made in technology and automation to enhance operational efficiency and improve patient access to medications [11][12] - The company is progressing with the separation of its medical-surgical business, aiming for an IPO by the second half of calendar 2027 [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to extend momentum and execute against strategic priorities, raising full-year EPS guidance to a range of $38.80-$39.20, reflecting 17%-19% growth [5][28] - The company anticipates revenue growth of 12%-16% and operating profit growth of 13%-17% for the full year, supported by strong third-quarter performance [28][29] - Management highlighted the importance of community-based care and the role of advocacy in expanding patient access [9][10] Other Important Information - The company completed the divestiture of its Norwegian operations, marking the final step in its exit from Europe, which is expected to contribute approximately $1 billion in revenue for fiscal 2026 [20][28] - Free cash flow for the quarter was $1.1 billion, with a total of $9.6 billion for the trailing 12 months, demonstrating strong operational performance [26][27] Q&A Session Summary Question: Can you discuss the specific investments in technology and automation? - Management highlighted investments in AI and automation to improve workflows, resulting in increased productivity during the annual verification season [38][39] Question: What are the long-term opportunities for margin improvement in the segment? - Management noted that half of the segment's revenue is related to third-party logistics, with ongoing automation expected to improve margins [43][44] Question: Any nuances to consider for fiscal 2027 guidance? - Management indicated stable utilization trends and strong specialty distribution growth, with operational efficiency gains supporting positive growth [48][50] Question: What is driving the margin improvement in oncology and multispecialty? - Management attributed margin improvements to provider additions and continued growth in specialty oncology products [55][57] Question: How is the company navigating the regulatory environment? - Management expressed confidence in navigating the regulatory landscape, emphasizing constructive conversations with manufacturing partners [66][69]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13252 McKESSON CORPORATION (Exact name of registrant as specified in its charter) Delaware 94-3207296 (State or other j ...

McKesson (NYSE:MCK) Q3 2026 Earnings call February 04, 2026 04:30 PM ET Speaker2Welcome to McKesson's third-quarter fiscal 2026 earnings conference call. Please be advised that today's conference is being recorded. At this time, I would like to turn the call over to Jeni Dominguez, VP of Investor Relations. Please go ahead.Speaker1Thank you, operator. Good afternoon and welcome, everyone, to McKesson's third-quarter fiscal 2026 earnings call. Today I'm joined by Brian Tyler, our Chief Executive Officer, and ...

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McKesson Corporation Third Quarter Fiscal 2026 Earnings Call February 4, 2026 1 © 2026 McKesson Corporation. All rights reserved. Cautionary Statements Cautionary Statements In an effort to provide additional and useful information regarding the Company's financial results and other financial information as determined by generally accepted accounting principles (GAAP), certain materials in this presentation include non-GAAP information. The Company believes the presentation of non-GAAP measures provides use ...

Exhibit 99.1 McKESSON CORPORATION REPORTS FISCAL 2026 THIRD QUARTER RESULTS AND RAISES FULL YEAR ADJUSTED EPS GUIDANCE IRVING, Texas, February 4, 2026 - McKesson Corporation (NYSE:MCK) today announced results for the third quarter ended December 31, 2025. Third Quarter Highlights: Fiscal 2026 Full Year Outlook: "McKesson delivered another strong quarter, extending the momentum we've built across the enterprise and demonstrating the impact of our disciplined execution," said Brian Tyler, chief executive offi ...

Key Takeaways MCK is expected to post Q3 fiscal 2026 sales of $105.54B, reflecting 10.8% year-over-year growth.MCK's EPS is projected to climb 15.9% to $9.31, with consensus estimates stable over the past month.MCK's results are likely to benefit from oncology strength, GLP-1 volume growth and efficiency gains.McKesson Corporation (MCK) is scheduled to report third-quarter fiscal 2026 results on Feb. 4, after market close.The Zacks Consensus Estimate for sales is pegged at $105.54 billion, implying 10.8% ye ...

Core Viewpoint - McKesson Corporation is positioned as a leading healthcare services and information technology company, with strong anticipated earnings growth and revenue increase for the upcoming quarter [1][2]. Financial Performance - Analysts expect McKesson to report earnings per share (EPS) of $9.31, reflecting a 15.9% increase from the previous year [2][6]. - Revenue is projected to reach $105.54 billion, marking a 10.8% rise from the same quarter last year [2][6]. - The consensus EPS estimate has remained unchanged over the past 30 days, indicating strong analyst confidence in the company's performance [3][6]. Valuation Metrics - The price-to-earnings (P/E) ratio is 26.03, suggesting that investors are willing to pay a premium for the company's earnings [4][6]. - The price-to-sales ratio is 0.27 and the enterprise value to sales ratio is 0.29, indicating a reasonable valuation relative to sales [4]. - The enterprise value to operating cash flow ratio is 16.16, showcasing the company's cash flow generation capabilities [4]. Capital Structure and Liquidity - The earnings yield stands at 3.84%, providing insight into the return on investment [5][6]. - A negative debt-to-equity ratio of -5.63 indicates a unique capital structure that may require further analysis [5][6]. - The current ratio is 0.88, suggesting potential liquidity considerations as it is below the ideal level of 1.0 [5].

Group 1 - McKesson Corporation is highlighted as a stock that typically performs well during earnings reports, with a history of stock price increases following such announcements [1] - The company distributes pharmaceutical drugs and medical-surgical supplies, and also offers healthcare technology and business services [2] - Despite a significant top-line miss in the last quarter, McKesson reported a strong earnings beat and provided a higher-than-expected full-year earnings forecast [2] - The stock has gained 22% since the mention in the episode aired on May 14, 2025 [3] Group 2 - The healthcare sector is currently facing scrutiny from the president, particularly targeting drug middlemen and distributors [1] - McKesson, along with other drug distributors, is noted for being strong performers over the long term, despite the perception of being vulnerable to market fluctuations [2]