November 6, 2025- McKesson Corporation announced results for the second quarter ended September 30, 2025.
Second Quarter Highlights:
- Quarterly consolidated revenues increased to a record high of $103.2 billion, an increase of 10% compared to the prior year.
- Earnings per diluted share of $8.92 increased $7.05.
- Adjusted Earnings per Diluted Share of $9.86 increased 39%.
- Generated $2.4 billion of cash flow from operations and $2.2 billion of Free Cash Flow.
Fiscal 2026 Full Year Outlook:
- Raised Adjusted Earnings per Diluted Share guidance range to $38.35 to $38.85, from the previous range of $38.05 to $38.55.
- Fiscal 2026 Adjusted Earnings per Diluted Share guidance range indicates 16% to 18% growth compared to the prior year.
- The Company does not forecast GAAP earnings per diluted share1.
Fiscal 2026 Second Quarter Result Summary
Second quarter revenues were $103.2 billion, an increase of 10% from a year ago, driven by growth in the North American Pharmaceutical segment, due to increased prescription volumes from retail national account customers, and growth in the distribution of oncology and multispecialty products including contributions from acquisitions in the Oncology & Multispecialty segment.
Second quarter earnings per diluted share was $8.92 compared to $1.87 a year ago, an increase of $7.05, primarily due to a prior year charge of $643 million for the fair value remeasurement of assets and liabilities related to McKesson’s agreement to sell its Canadian retail businesses and a prior year charge of $227 million related to business rationalization initiatives.