Jun 2026 (Q1 FY27) — Aug 5, 2026
McKesson Q1 FY27 — Strong Performance Drives Raised Full-Year EPS Guidance
Read the full callMcKesson (MCK) earnings
- Jun 2026
- Jun 2026 (Q1 FY27)
- Mar 2026
McKesson earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 105,380 | +7.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 1.3 | +0.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 614 | −21.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
12 of 13 judged targets kept · 67 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Additional term loan issuance for the Medical-Surgical separation | up to $2.25 billion in additional term loans | Mar 2026 | we completed a $2.25 billion senior secured Term Loan B, further establishing a stand-alone capital structure for the business | Achieved |
| Adjusted earnings per diluted share | $43.80 to $44.60 | Mar 2026 | raise full year adjusted earnings per diluted share guidance to $44.20 to $45.00 from the prior range of $43.80 to $44.60 | Revised Up |
| Consolidated revenue growth | 5% to 9% | Mar 2026 | For fiscal '27, we anticipate revenue growth of 5% to 9% and operating profit growth of 9% to 13% | On Track |
1 of MCKESSON CORP's 80 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 77 more targets are in the full ledger.
Claimed
- Revenues increased 8% to $105.4 billion, exceeding expectations.
- Adjusted earnings per diluted share increased 20% to $9.93, exceeding expectations.
- Full-year adjusted EPS guidance raised to $44.20-$45.00, reflecting strong momentum.
- North American Pharmaceutical segment operating profit increased 19%, driven by specialty distribution and new product launches.
- Oncology and Multispecialty segment revenue grew 33% (24% ex-Core Ventures) and operating profit grew 41% (15% ex-Core Ventures).
Qualified
- Operating profit in Medical-Surgical Solutions decreased 20% to $195 million, driven by product mix and one-time administrative expenses.
- Negative free cash flow of $372 million in Q1 FY27, though an improvement from prior year.
- Lower branded pharmaceutical pricing following WAC decreases in January 2026 partially offset revenue growth in North American Pharmaceutical.
Price
$1,010.43 +0.56% · +$5.59
Performance +28.6% 1Y
1Y: $786 on 17 Oct 2025 → $1,010.43. High $1,010.43 (19 Oct 2026), low $725.17 (11 May 2026).
- Previous close
- $1,004.84
- 52-week range
- $725.17 – $1,010.43
- One year
- +28.26%
Overview
- Symbol
- MCK
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
12 of 13 judged targets kept · 67 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Additional term loan issuance for the Medical-Surgical separation | up to $2.25 billion in additional term loans | Mar 2026 | we completed a $2.25 billion senior secured Term Loan B, further establishing a stand-alone capital structure for the business | Achieved |
| Adjusted earnings per diluted share | $43.80 to $44.60 | Mar 2026 | raise full year adjusted earnings per diluted share guidance to $44.20 to $45.00 from the prior range of $43.80 to $44.60 | Revised Up |
| Consolidated revenue growth | 5% to 9% | Mar 2026 | For fiscal '27, we anticipate revenue growth of 5% to 9% and operating profit growth of 9% to 13% | On Track |
Claimed
- Revenues increased 8% to $105.4 billion, exceeding expectations.
- Adjusted earnings per diluted share increased 20% to $9.93, exceeding expectations.
- Full-year adjusted EPS guidance raised to $44.20-$45.00, reflecting strong momentum.
- North American Pharmaceutical segment operating profit increased 19%, driven by specialty distribution and new product launches.
- Oncology and Multispecialty segment revenue grew 33% (24% ex-Core Ventures) and operating profit grew 41% (15% ex-Core Ventures).
Qualified
- Operating profit in Medical-Surgical Solutions decreased 20% to $195 million, driven by product mix and one-time administrative expenses.
- Negative free cash flow of $372 million in Q1 FY27, though an improvement from prior year.
- Lower branded pharmaceutical pricing following WAC decreases in January 2026 partially offset revenue growth in North American Pharmaceutical.
The full ledger
Open MCKESSON CORP’s full ledger
A free account opens 5 company ledgers a month. All 80 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q4 FY26) — May 7, 2026
McKesson Q4 FY26 — Strong Performance and Strategic Portfolio Actions Drive Growth
Read the full callDec 2025 (Q3 FY26) — Feb 4, 2026
McKesson Q3 FY26 — Double-Digit Growth and Raised Full-Year EPS Guidance
Read the full callEvery analysed call
McKesson earnings calls (MCK)
Financials
What the filings say
Net profit, year on year: −22% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 93,651 | 95,294 | 90,823 | 97,827 | 103,150 | 106,158 | 96,295 | 105,380 |
| Operating profit | 578 | 1,224 | 1,591 | 1,036 | 1,407 | 1,619 | 2,150 | 1,319 |
| Operating margin | 0.6% | 1.3% | 1.8% | 1.1% | 1.4% | 1.5% | 2.2% | 1.3% |
| Other income | 34 | 69 | -31 | 64 | 62 | 74 | 36 | 66 |
| Interest | 78 | 67 | 45 | 49 | 74 | 63 | 61 | 77 |
| Profit before tax | 534 | 1,226 | 1,515 | 1,051 | 1,395 | 1,630 | 2,125 | 1,308 |
| Tax rate | 46.3% | 24.3% | 13.8% | 20.9% | 16.6% | 23.3% | 12.7% | 21.1% |
| Net profit | 241 | 879 | 1,260 | 784 | 1,110 | 1,186 | 1,682 | 614 |
| EPS ($ per share) | 1.88 | 6.98 | — | 6.28 | 8.95 | 9.63 | — | 5.17 |
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 3 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Reserves | 12,409 | 13,022 | 8,202 | 9,030 | 12,295 | 14,978 | 17,921 | 22,291 |
| Total liabilities | 51,385 | 55,938 | 64,840 | 65,090 | 63,810 | 69,042 | 76,834 | 84,100 |
| Fixed assets | 2,548 | 2,365 | 2,581 | 2,092 | 2,177 | 2,316 | 2,502 | 2,668 |
| Total assets | 59,672 | 61,247 | 65,015 | 63,298 | 62,320 | 67,443 | 75,140 | 82,323 |
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 4,036 | 4,374 | 4,542 | 4,434 | 5,159 | 4,314 | 6,085 | 6,155 |
| Cash from investing | -1,381 | -579 | -415 | -89 | -542 | -1,072 | -733 | -3,432 |
| Cash from financing | -2,227 | -2,734 | -1,693 | -6,321 | -4,368 | -3,342 | -3,965 | -4,631 |
| Net cash flow | 309 | 1,042 | 2,373 | -2,461 | 744 | -94 | 1,371 | -1,888 |
| Capital expenditure | -426 | -362 | -451 | -388 | -390 | -431 | -537 | -436 |
| Free cash flow | 3,610 | 4,012 | 4,091 | 4,046 | 4,769 | 3,883 | 5,548 | 5,719 |
MCK revenue by segment
| Segment | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| North American Pharmaceutical | — | — | — | — | 84% | 83% | — | 82% | — |
| Oncology and Multispecialty | — | — | — | — | 12% | 12% | — | 14% | — |
| Medical Surgical Solutions | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | +4.4% |
| Prescription Technology Solutions | 1% | 1% | 1% | 1% | 1% | 1% | 2% | 1% | +9.2% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
MCK operating KPIs by quarter
| KPI | Dec 2024 Q3 FY25 | Jun 2025 Q1 FY26 | Sep 2025 Q2 FY26 | Dec 2025 Q3 FY26 | Mar 2026 Q4 FY26 | Jun 2026 Q1 FY27 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Providers US Oncology Network | 2,750+We're pleased to see the continued expansion growing to over 2,750 providers across 640 sites of care in 31 different states.Source: earnings call transcript | ~3,300This marks an important step forward in our efforts to expand access to exceptional cancer care in local communities, growing the footprint of the US Oncology Network to approximately 3,300 providers across 700 sites in 30 states.Source: earnings call transcript | 3,300+The US Oncology Network has been leading the cancer care transformation for more than 15 years and is now supporting over 3,300 providers across more than 700 sites across the country.Source: earnings call transcript | ~3,400Today, the US oncology network has approximately 3,400 providers, and PRISM Vision brings together over 200 providers in retina and ophthalmology.Source: earnings call transcript | — | ~3,400The US Oncology Network grew to approximately 3,400 providers and treats more than 2 million patients annually.Source: earnings call transcript | — |
| Sites of care US Oncology Network | 640We're pleased to see the continued expansion growing to over 2,750 providers across 640 sites of care in 31 different states.Source: earnings call transcript | 700This marks an important step forward in our efforts to expand access to exceptional cancer care in local communities, growing the footprint of the US Oncology Network to approximately 3,300 providers across 700 sites in 30 states.Source: earnings call transcript | 700+The US Oncology Network has been leading the cancer care transformation for more than 15 years and is now supporting over 3,300 providers across more than 700 sites across the country.Source: earnings call transcript | — | — | — | — |
| Employees | — | 45KEverything we achieve is made possible by the dedication and the commitment of our 45,000 employees.Source: earnings call transcript | — | — | 43KAs we close out a really great fiscal '26, I want to thank the 43,000 McKesson employees for their commitment to the work they do every day to advance our mission.Source: earnings call transcript | — | — |
| Providers PRISM Vision | — | — | — | 200+Today, the US oncology network has approximately 3,400 providers, and PRISM Vision brings together over 200 providers in retina and ophthalmology.Source: earnings call transcript | — | 200+PRISM Vision brings together over 200 providers in 97 locations, helping expand access to high-quality retina and ophthalmology care, again, in the community setting.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
83 filings between Nov 7, 2025 and Sep 8, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$28.27M
18 sales by 7 insiders
89% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 11
- Award — granted as compensation
- 23
- Option exercise — converted options into shares
- 31
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| TYLER BRIAN S. | — | $17.04M | Jul 7, 2026 |
| Lau Michele | — | $5.68M | May 26, 2026 |
| Rodgers Thomas L | — | $2.65M | Jun 2, 2026 |
| Smith LeAnn B | — | $1.51M | Jun 1, 2026 |
| Rutledge Napoleon B JR | — | $797.3K | Sep 8, 2026 |
| Martinez Maria | — | $328.0K | Feb 19, 2026 |
| Lerman Bradley E | — | $268.6K | Aug 10, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 8, 2026 | Rutledge Napoleon B JR SVP, Controller & CAO | Sale 10b5-1 plan | 111 | $99.0K |
| Aug 10, 2026 | Lerman Bradley E Director | Sale | 301 | $268.6K |
| Jul 22, 2026 | Wilson-Thompson Kathleen Director | Award | 277 | $225.5K |
| Jul 22, 2026 | Martinez Maria Director | Award | 277 | $225.5K |
| Jul 22, 2026 | Caruso Dominic J Director | Award | 277 | $225.5K |
| Jul 7, 2026 | TYLER BRIAN S. Chief Executive Officer | Sale 10b5-1 plan | 8,463 | $6.72M |
| Jun 17, 2026 | TYLER BRIAN S. Chief Executive Officer | Sale 10b5-1 plan | 8,463 | $6.56M |
| Jun 9, 2026 | TYLER BRIAN S. Chief Executive Officer | Sale 10b5-1 plan | 4,929 | $3.76M |
| Jun 5, 2026 | Rutledge Napoleon B JR SVP, Controller & CAO | Sale 10b5-1 plan | 133 | $101.6K |
| Jun 2, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Sale 10b5-1 plan | 699 | $514.0K |
| Jun 1, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Sale 10b5-1 plan | 123 | $90.5K |
| Jun 1, 2026 | Smith LeAnn B EVP & Chief HR Officer | Sale 10b5-1 plan | 1,810 | $1.33M |
| May 26, 2026 | Lau Michele EVP and Chief Legal Officer | Sale 10b5-1 plan | 3,550 | $2.70M |
| May 26, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Sale 10b5-1 plan | 2,388 | $1.82M |
| May 23, 2026 | Rutledge Napoleon B JR SVP, Controller & CAO | Tax withheld | 41 | $31.4K |
| May 23, 2026 | Fraga Francisco EVP, CIO and CTO | Option exercise | 136 | $0 |
| May 23, 2026 | TYLER BRIAN S. Chief Executive Officer | Tax withheld | 1,831 | $1.40M |
| May 23, 2026 | Rutledge Napoleon B JR SVP, Controller & CAO | Option exercise | 136 | $0 |
| May 23, 2026 | Fraga Francisco EVP, CIO and CTO | Tax withheld | 54 | $41.4K |
| May 23, 2026 | TYLER BRIAN S. Chief Executive Officer | Option exercise | 4,579 | $0 |
| May 23, 2026 | Vitalone Britt J. EVP & CFO | Tax withheld | 581 | $445.1K |
| May 23, 2026 | Smith LeAnn B EVP & Chief HR Officer | Tax withheld | 268 | $205.3K |
| May 23, 2026 | Smith LeAnn B EVP & Chief HR Officer | Option exercise | 679 | $0 |
| May 23, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Option exercise 10b5-1 plan | 594 | $0 |
| May 23, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Tax withheld 10b5-1 plan | 234 | $179.3K |
| May 23, 2026 | Vitalone Britt J. EVP & CFO | Option exercise | 1,476 | $0 |
| May 21, 2026 | Fraga Francisco EVP, CIO and CTO | Option exercise | 483 | $0 |
| May 21, 2026 | Lau Michele EVP and Chief Legal Officer | Option exercise | 724 | $0 |
| May 21, 2026 | Fraga Francisco EVP, CIO and CTO | Tax withheld | 191 | $146.4K |
| May 21, 2026 | Rutledge Napoleon B JR SVP, Controller & CAO | Tax withheld | 27 | $20.7K |
| May 21, 2026 | Rutledge Napoleon B JR SVP, Controller & CAO | Option exercise | 91 | $0 |
| May 21, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Option exercise | 423 | $0 |
| May 21, 2026 | Lau Michele EVP and Chief Legal Officer | Tax withheld | 285 | $218.5K |
| May 21, 2026 | TYLER BRIAN S. Chief Executive Officer | Option exercise | 3,500 | $0 |
| May 21, 2026 | Vitalone Britt J. EVP & CFO | Tax withheld | 447 | $342.6K |
| May 21, 2026 | Vitalone Britt J. EVP & CFO | Option exercise | 1,207 | $0 |
| May 21, 2026 | Smith LeAnn B EVP & Chief HR Officer | Tax withheld | 209 | $160.2K |
| May 21, 2026 | TYLER BRIAN S. Chief Executive Officer | Tax withheld | 1,319 | $1.01M |
| May 21, 2026 | Smith LeAnn B EVP & Chief HR Officer | Option exercise | 531 | $0 |
| May 21, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Tax withheld | 157 | $120.3K |
| May 20, 2026 | Lau Michele EVP and Chief Legal Officer | Option exercise | 677 | $0 |
| May 20, 2026 | Rutledge Napoleon B JR SVP, Controller & CAO | Tax withheld | 22 | $16.6K |
| May 20, 2026 | Rutledge Napoleon B JR SVP, Controller & CAO | Option exercise | 74 | $0 |
| May 20, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Tax withheld | 128 | $96.6K |
| May 20, 2026 | Rodgers Thomas L EVP, Chief Strategy & BDO | Option exercise | 324 | $0 |
| May 20, 2026 | Smith LeAnn B EVP & Chief HR Officer | Tax withheld | 183 | $138.1K |
| May 20, 2026 | Smith LeAnn B EVP & Chief HR Officer | Option exercise | 463 | $0 |
| May 20, 2026 | Vitalone Britt J. EVP & CFO | Tax withheld | 409 | $308.7K |
| May 20, 2026 | Vitalone Britt J. EVP & CFO | Option exercise | 1,038 | $0 |
| May 20, 2026 | TYLER BRIAN S. Chief Executive Officer | Tax withheld | 1,282 | $967.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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