Companies /Healthcare

Mckesson Corporation

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

Q4 2026 Earnings

Reported May 7, 2026, 4:07pm ET · SEC source
$11.69
Beat +1.04%
EPS · est. $11.57
$96.3B
Miss −5.02%
Revenue · est. $101.4B
+9.0%
Beating market
MCK vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0May 7May 8report 4:07pm ETearnings+0.8%−3.1%
−4%−2%0May 7May 8earnings+0.8%−3.1%
MCK −3.1%S&P 500 +0.8%
−4%−2%0+2%May 7May 8report 4:07pm ETearnings+2.3%−3.1%
−4%−2%0+2%May 7May 8earnings+2.3%−3.1%
MCK −3.1%NASDAQ +2.3%
−2%0+2%+4%May 6May 15report 4:07pm ETearnings+1.0%+2.8%
−2%0+2%+4%May 6May 15earnings+1.0%+2.8%
MCK +2.8%S&P 500 +1.0%
−2%0+2%+4%May 6May 15report 4:07pm ETearnings+2.0%+2.8%
−2%0+2%+4%May 6May 15earnings+2.0%+2.8%
MCK +2.8%NASDAQ +2.0%
−2.47%
Day of report
−1.48%
Next session
+3.33%
One week
+7.38%
30 days

S&P 500 over the same 30 days: −1.65%.

Did MCK Beat Earnings? Q4 2026 Results

McKesson delivered a mixed fiscal fourth-quarter report for Q4 2026, posting adjusted EPS of $11.69 that edged past the $11.57 consensus estimate by 1.05%, while revenue of $96.30 billion fell short of the $101.38 billion Wall Street expected, a 5.02% miss, despite growing 6.0% year over year. The headline earnings strength was anchored by the Oncology and Multispecialty segment, where revenue surged 35% to $12.71 billion and adjusted operating profit climbed 53% to $385.00 million, fueled by specialty distribution growth and contributions from recent acquisitions including PRISM Vision and Core Ventures. North American Pharmaceutical, which accounts for the bulk of McKesson's revenue at $79.12 billion in the quarter, also contributed with 11% adjusted operating profit growth. The results come as pharmaceutical distribution peers broadly navigate pricing headwinds across the industry. Looking ahead, McKesson guided fiscal 2027 adjusted EPS to a range of $43.80 to $44.60, representing 12% to 14% growth, while reaffirming long-term annual EPS expansion targets of 13% to 16%.

Key Takeaways
  • Growth in distribution of oncology and multispecialty products, including contributions from acquisitions
  • Increased prescription transaction volumes, including higher volumes from specialty products
  • Lower share count due to robust share repurchase program
  • Lower tax rate in the fourth quarter
  • Higher demand for access solutions in Prescription Technology Solutions
  • Growth in specialty product distribution to health systems

“McKesson's fourth quarter results reflect the strength of our diversified portfolio and disciplined execution against our strategic priorities. Our Fiscal 2026 performance, headlined by 12% revenue growth and 18% adjusted EPS growth, exceeded our long-range growth targets and demonstrates our ability to consistently deliver growth and operating leverage across the enterprise.”

McKesson CEO, on the earnings call

Forward Guidance & Outlook

McKesson established fiscal 2027 Adjusted Earnings per Diluted Share guidance of $43.80 to $44.60, representing 12% to 14% forecasted growth compared to fiscal 2026. The company reaffirmed long-term Adjusted Earnings per Diluted Share growth targets of 13% to 16%, as well as long-term Adjusted Segment Operating Profit growth targets: North American Pharmaceutical 5% to 8%, Oncology & Multispecialty 13% to 16%, and Prescription Technology Solutions 10% to 13%. The company does not provide forward-looking guidance on a GAAP basis.

MCK YoY Financials

Q4 2026 vs Q4 2025 · SEC filings Q4 2025 Q4 2026
$0$30.0B$60.0B$90.0B$90.8B$96.3BRevenue$2.9B$4.0BGross Profit$1.0B$2.2BOperating Income$1.3B$1.7BNet Income
$0$30.0B$60.0B$90.0BRevenueGross ProfitOperating IncomeNet Income

MCK Revenue by Segment

North American Pharmaceutical$79.1B+3.0%
Oncology & Multispecialty$12.7B+35.0%
Medical-Surgical Solutions$2.9B+1.0%
Prescription Technology Solutions$1.5B+12.0%

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