Companies /Healthcare

Mckesson Corporation

NYSE: MCK Medical Distribution
$889.61
▼ $7.04 (−0.79%) today
Markets open · 3:04pm ET

Q3 2026 Earnings

Reported Feb 4, 2026, 4:05pm ET · SEC source
$9.34
Beat +0.76%
EPS · est. $9.27
$106.2B
Beat +0.23%
Revenue · est. $105.9B
−3.0%
Trailing market
MCK vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+6%+12%+18%Feb 4Feb 5report 4:05pm ETearnings−1.4%+16.5%
0+6%+12%+18%Feb 4Feb 5earnings−1.4%+16.5%
MCK +16.5%S&P 500 −1.4%
0+6%+12%+18%Feb 4Feb 5report 4:05pm ETearnings−1.7%+16.5%
0+6%+12%+18%Feb 4Feb 5earnings−1.7%+16.5%
MCK +16.5%NASDAQ −1.7%
0+6%+12%Feb 3Feb 12report 4:05pm ETearnings−0.9%+9.7%
0+6%+12%Feb 3Feb 12earnings−0.9%+9.7%
MCK +9.7%S&P 500 −0.9%
0+6%+12%Feb 3Feb 12report 4:05pm ETearnings−1.1%+9.7%
0+6%+12%Feb 3Feb 12earnings−1.1%+9.7%
MCK +9.7%NASDAQ −1.1%
+16.52%
Day of report
−0.95%
Next session
−4.36%
One week
−3.04%
30 days

S&P 500 over the same 30 days: −0.06%.

Did MCK Beat Earnings? Q3 2026 Results

McKesson posted a clean beat across both top and bottom lines in fiscal Q3 2026, with adjusted EPS of $9.34 edging past the $9.27 consensus estimate by 0.71% and revenue of $106.16 billion coming in ahead of the $105.91 billion expected, up 11.4% from a year ago. The primary engine behind the quarter was the company's Oncology and Multispecialty segment, which delivered 37% revenue growth to $13.01 billion and 57% adjusted operating profit growth, fueled by specialty drug distribution and provider solutions that continue to scale rapidly. Prescription volumes from retail national account customers also drove core pharmaceutical distribution higher, underpinning the broader revenue expansion. On the outlook, McKesson raised and narrowed its fiscal 2026 adjusted EPS guidance to a range of $38.80 to $39.20, implying 17% to 19% growth versus the prior year, a signal of management confidence that analysts have largely embraced, with a "Strong Buy" consensus emerging following the report.

Key Takeaways
  • Increased prescription transaction volumes from retail national account customers
  • Growth in distribution of oncology and multispecialty products including contributions from acquisitions
  • Growth in provider solutions and specialty distribution in Oncology & Multispecialty segment
  • Higher demand for access solutions in Prescription Technology Solutions
  • Pre-tax credit of $160 million related to Rite Aid bankruptcy boosting GAAP results
  • Share repurchases reducing diluted share count from 126.6 million to 123.7 million

“McKesson delivered another strong quarter, extending the momentum we've built across the enterprise and demonstrating the impact of our disciplined execution. Our results highlight the strength of our core distribution businesses and the meaningful progress we are making against our strategic priorities.”

McKesson CEO, on the earnings call

Forward Guidance & Outlook

McKesson raised and narrowed its fiscal 2026 Adjusted Earnings per Diluted Share guidance to $38.80 to $39.20, up from the previous range of $38.35 to $38.85, indicating 17% to 19% growth compared to the prior year. The guidance includes $0.09 related to year-to-date gains associated with McKesson Ventures' equity investments. The company does not provide forward-looking guidance on a GAAP basis.

MCK YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$30.0B$60.0B$90.0B$95.3B$106.2BRevenue$3.2B$3.7BGross Profit$1.3B$1.6BOperating Income$879.0M$1.2BNet Income
$0$30.0B$60.0B$90.0BRevenueGross ProfitOperating IncomeNet Income

MCK Revenue by Segment

North American Pharmaceutical$88.3B+9.0%
Oncology & Multispecialty$13.0B+37.0%
Medical-Surgical Solutions$3.0B+1.0%
Prescription Technology Solutions$1.5B+9.0%

Figures from SEC filings and company reports. Not investment advice.