McKesson stock: Fiscal 2027 adjusted EPS outlook raised

McKesson reported stronger-than-expected operating momentum for the second quarter of fiscal 2027 on November 4, with results for the period ended September 30. In its McKesson press release, the company said revenue rose 8% year over year to 111.0 billion US dollars.

Adjusted diluted earnings per share increased 18% to 11.68 US dollars from 9.86 US dollars a year earlier. GAAP diluted earnings per share reached 10.44 US dollars, compared with 8.92 US dollars in the prior-year quarter. McKesson attributed the adjusted earnings growth to operating gains in North American Pharmaceutical, Oncology and Multispecialty, and Prescription Technology Solutions, as well as a lower share count.

Higher guidance follows broad segment growth

Management raised its fiscal 2027 adjusted diluted EPS guidance to a range of 45.60 to 46.40 US dollars from 44.20 to 45.00 US dollars. The new range implies adjusted EPS growth of 17% to 19% from the prior year. McKesson does not provide forward-looking GAAP EPS guidance because it cannot reasonably quantify several items, including LIFO inventory adjustments, litigation contingencies, transaction expenses, restructuring, impairment and related charges.

Chief Executive Officer Brian Tyler said the quarter reflected operational strength in the core business and disciplined execution. Chief Financial Officer Kenny Cheung said the higher outlook was supported by business strength and confidence in consistent execution. The company expects fiscal 2027 revenue growth of 6% to 10% and operating profit growth of 12% to 16%.

North American Pharmaceutical revenue rose 6% to 91.4 billion US dollars, while adjusted segment operating profit increased 22% to 1.0 billion US dollars. Oncology and Multispecialty revenue advanced 24% to 15.0 billion US dollars, and Prescription Technology Solutions revenue increased 10% to 1.5 billion US dollars. Medical-Surgical Solutions revenue grew 5% to 3.1 billion US dollars, although its adjusted segment operating profit fell 10% because of product mix in ambulatory care.

Capital deployment remains in focus

McKesson generated 3.1 billion US dollars of operating cash flow and 2.9 billion US dollars of free cash flow during the quarter. In the first six months of the fiscal year, the company returned 3.6 billion US dollars to shareholders, including 3.4 billion US dollars of share repurchases and 198 million US dollars of dividends.

The company also highlighted strategic portfolio moves. It signed an agreement to extend its pharmaceutical distribution partnership with CVS Health through June 2032, agreed on October 5 to invest approximately 1.4 billion US dollars for an approximately 49% stake in Option Care Health, and completed the acquisition of Precision Medicine Group on November 2. The Option Care Health transaction remains subject to customary closing and regulatory conditions.

McKesson stock traded at 952.30 euros on Lang & Schwarz at 14:08 CET on Friday, November 6, 2026. Investors will next receive a scheduled company presentation at the Jefferies Global Healthcare Conference on November 17.

McKesson Corporation

• ISIN: US58155Q1031
• Ticker: MCK
• Exchange: NYSE
• Latest quote: 952.30 euros on November 6, 2026, at 14:08 CET
• Second-quarter revenue: 111.0 billion US dollars
• Adjusted diluted EPS: 11.68 US dollars
• Fiscal 2027 adjusted EPS outlook: 45.60 to 46.40 US dollars

The Euro Stoxx 50 offers a broad European market reference, while McKesson remains primarily exposed to US healthcare demand and company-specific execution.

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