McKesson stock lifts fiscal 2027 EPS outlook after Q2 growth

McKesson reported stronger fiscal second-quarter results on Wednesday, November 4, 2026, and raised its full-year adjusted earnings outlook. The healthcare services company said in its earnings release that revenue for the quarter ended September 30 rose 8 percent year over year to 111.0 billion US dollars.

Quarterly growth supports guidance

GAAP earnings per diluted share increased to 10.44 US dollars from 8.92 US dollars a year earlier. Adjusted diluted EPS rose 18 percent to 11.68 US dollars from 9.86 US dollars. McKesson attributed the adjusted increase to operating growth in North American Pharmaceutical, Oncology & Multispecialty and Prescription Technology Solutions, as well as a lower share count.

Operating momentum was broad but uneven across the portfolio. North American Pharmaceutical revenue increased 6 percent to 91.4 billion US dollars, while adjusted segment operating profit rose 22 percent to 1.0 billion US dollars. Oncology & Multispecialty revenue climbed 24 percent to 15.0 billion US dollars, with adjusted operating profit up 8 percent to 427 million US dollars.

Prescription Technology Solutions revenue increased 10 percent to 1.5 billion US dollars, and adjusted operating profit rose 18 percent to 307 million US dollars. Medical-Surgical Solutions revenue grew 5 percent to 3.1 billion US dollars, but adjusted operating profit fell 10 percent to 225 million US dollars because of product mix in the ambulatory care channel.

Full-year outlook moves higher

McKesson raised its fiscal 2027 adjusted diluted EPS guidance to 45.60 to 46.40 US dollars from the previous range of 44.20 to 45.00 US dollars. The new range implies adjusted EPS growth of 17 to 19 percent from the prior fiscal year. Management also expects fiscal-year revenue growth of 6 to 10 percent and adjusted operating profit growth of 12 to 16 percent, according to the company earnings presentation.

Chief Executive Officer Brian Tyler said the results reflected operational strength in the core business segments and disciplined execution. Chief Financial Officer Kenny Cheung said the higher guidance was supported by business strength and confidence in consistent execution. McKesson does not provide forward-looking GAAP EPS guidance because it cannot reasonably reconcile certain inventory, litigation, transaction and restructuring items.

The company generated 3.1 billion US dollars of operating cash flow and 2.9 billion US dollars of free cash flow in the quarter. During the first six months of fiscal 2027, it returned 3.6 billion US dollars to shareholders, including 3.4 billion US dollars of common-stock repurchases and 198 million US dollars of dividends.

Transactions broaden strategic focus

McKesson completed its acquisition of Precision Medicine Group on November 2. The company described the transaction as an expansion of its oncology, multispecialty and biopharma-services capabilities. It also signed an agreement to extend its pharmaceutical distribution partnership with CVS Health through June 2032.

McKesson stock traded at 955.50 euros on Lang & Schwarz at 13:47 CET on Monday, November 9, 2026. Investors will next focus on management's scheduled appearance at the Jefferies Global Healthcare Conference on November 17.

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McKesson Corporation

• ISIN: US58155Q1031
• Ticker: MCK
• Home exchange: New York Stock Exchange
• Lang & Schwarz quote: 955.50 euros on November 9, 2026 at 13:47 CET
• Fiscal quarter: Second quarter ended September 30, 2026