McKesson Boosts FY21 Adj. EPS Outlook; Authorizes $2 Bln Share Buyback - Quick Facts

While reporting financial results for the third quarter on Tuesday, McKesson Corp. (MCK) raised its adjusted earnings guidance for the full-year 2021 to reflect improved growth in the business and the contribution from its successful distribution of COVID-19 vaccines and ancillary supplies.

For fiscal 2021, the company now projects adjusted earnings in a range of $ $16.95 to $17.25 per share, up from the previous guidance range of $16.00 to $16.50 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $16.42 per share for the year. Analysts' estimates typically exclude special items.

Additionally, McKesson's Board of Directors authorized an additional $2.0 billion share repurchase program, demonstrating confidence in McKesson's diversified capital allocation strategy.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Foxconn, Apple Inc.'s key iPhone assembler, expects that its major plant in China, which is being hit hard by worker unrest following Covid-19 spread and related restrictions, would restart full production around late December to early January, Reuters reported citing a Foxconn source. Nestle Purina PetCare Co. has recalled a limited amount of certain prescription wet dog food citing labeling error, the U.S. Food and Drug Administration said. The recall involves Purina Pro Plan Veterinary Diets EN Gastroenteric Low Fat or PPVD EN Low Fat wet dog food that comes in 13.4 oz cans. Exportadora Copramar is recalling 1260 cases of James Farm frozen raspberries citing potential to be contaminated with Hepatitis A, the U.S. Food and Drug Administration said. The recall involves James Farm branded frozen raspberries identified by UPC Code: 76069501010 and Lot Code - 22-165.
Follow RTT