McKesson says it is well-positioned going into 2027

IRVING, Texas – McKesson Corp. has reported consolidated revenues of $96.3 billion for the fourth quarter of fiscal year 2026, a 6% increase. It reported revenues of $403.4 billion for the full year, a 12% increase.

Fourth quarter highlights:

• Earnings per diluted share of $13.71 increased $3.70.
• Adjusted Earnings per diluted share of $11.69 increased 16%.
• McKesson entered into a $2.25 billion accelerated share repurchase program.
• McKesson’s board of directors approved a $5 billion increase to the share repurchase program, bringing the total share repurchase authorization to $7.7 billion as of April 2026.

Full year highlights:

• Earnings per diluted share of $38.38 increased $12.66.
• Adjusted earnings per diluted share of $39.11 increased 18%, above previously communicated long-range growth targets.
• Cash flow from operations of $6.2 billion and free cash flow of $5.4 billion

For the Medical-Surgical Solutions Segment

Fourth quarter highlights:

• Revenues were $2.9 billion, an increase of 1%, driven by specialty pharmaceutical volumes, offset by lower contributions from the ambulatory care channel.
• Segment operating profit was $232 million. Adjusted segment operating profit was $271 million, a decrease of 5%, driven by lower contributions from the ambulatory care channel.

Full year highlights:

• Revenues were $11.5 billion, an increase of 1%, driven by specialty pharmaceutical volumes, offset by lower contributions from the ambulatory care channel.
• Segment operating profit was $938 million. Adjusted segment operating profit was $1 billion, an increase of 1%, driven by cost optimization, offset by lower contributions from the ambulatory care channel.

CEO commentary

“Looking ahead to fiscal 2027, we are well-positioned to build upon this momentum,” said CEO Brian Tyler. “We remain committed to executing with discipline across the portfolio, investing in high-growth and high-margin areas in Oncology and Biopharma Services. By combining our operating execution with a more focused and optimized portfolio, we will continue to deliver sustainable growth and create long-term value for our shareholders.”

• Related: McKesson sells stake in Medical-Surgical Solutions.