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McKesson Q1 Profit Rises, Lifts FY22 EPS Outlook

McKesson Corporation (MCK) Wednesday reported first-quarter net income of $768 million or $5.26 per share, compared to $486 million or $3.07 per share last year.

Adjusted earnings per share for the quarter was $5.83, up from $5.56 last year.

Revenues for the first quarter rose 7% to $67.2 million from $62.7 million last year.

Analysts polled by Thomson Reuters expected earnings of $5.28 per share and revenues of $65.14 billion for the quarter.

"McKesson had a solid start to fiscal 2023. Our results this quarter demonstrate the strength of our streamlined portfolio and successful execution as a diversified healthcare services company," said Brian Tyler, chief executive officer. "Our talented associates continue to deliver exceptional performance, and we remain confident that our strategy positions McKesson for long-term growth and value creation.

Looking forward, the company lifted its adjusted earnings per share outlook to $23.95 to $24.65, from $22.90 to $23.60. Analysts currently estimate earnings of $23.35 per share.

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