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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
McKesson
McKesson (MCK) investor relations material
McKesson Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2027 earnings summary4 Nov, 2026
Executive summary
Q2 FY27 revenue was $110.96B, up 8% YoY; adjusted diluted EPS rose 18% to $11.68.
FY27 adjusted EPS guidance increased to $45.60-$46.40, implying 17%-19% YoY growth.
Priorities include North American distribution and growth platforms in oncology, multispecialty, and biopharma services.
Financial highlights
Adjusted gross profit was $3.903B, up 10%; adjusted operating expenses were $2.114B, up 8%, and adjusted operating profit was $1.852B, up 13%.
GAAP operating income was $1.604B, up 14%; net income attributable to McKesson Corporation was $1.218B, up 10%, and diluted EPS was $10.44 versus $8.92.
H1 FY27 revenue rose 8% to $216.337B; adjusted operating profit rose 15% to $3.505B and adjusted EPS increased 19% to $21.59.
Q2 adjusted EPS growth was 24% excluding prior-year Norway and equity-investment/market-position gains.
Outlook and guidance
FY27 adjusted EPS guidance rose from $44.20-$45.00 to $45.60-$46.40; adjusted operating profit growth is expected at 12%-16%.
FY27 revenue growth outlook is 6%-10%; free cash flow is expected at $4.5B-$4.9B and adjusted effective tax rate at 18%-19%.
Segment outlook: North American Pharmaceutical revenue growth 5%-9%, profit growth 14%-18%; Oncology & Multispecialty revenue growth 20%-24%, profit growth 18%-22%.
Prescription Technology Solutions revenue growth outlook is 2.5%-6.5%, profit growth 11%-15%; Medical-Surgical Solutions revenue growth is 1%-6%, with profit down 4% to flat.
FY27 share repurchases are expected to total ~$5B.
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Latest events from McKesson
- Strong segment growth, strategic PMG acquisition, and focused capital deployment drive outlook.MCK
Morgan Stanley 24th Annual Global Healthcare Conference - Strong Q1 growth, strategic M&A, and AI-driven innovation underpin a positive outlook.MCKWells Fargo 21st Annual Healthcare Conference
- Adjusted EPS up 20% and revenue up 8%, with strong Oncology & Multispecialty growth.MCKQ1 2027
- Proxy statement covers annual meeting proposals, board governance, and voting rights.MCKProxy filing
- Key votes include board elections, auditor ratification, and executive pay approval.MCKProxy filing
- Proxy details strong financials, board refreshment, and robust pay-for-performance alignment.MCKProxy filing
- Raised FY26 EPS guidance, specialty growth, and segment separation drive long-term value.MCKInvestor Day 2025
- Revenue up 21%, Adjusted EPS up 13%, 2025 guidance raised, $2.2B returned to shareholders.MCKQ2 2025
- Adjusted EPS up 8% on 6% revenue growth; guidance, dividend, and buyback all raised.MCKQ1 2025
Next McKesson earnings date
8th Annual Wolfe Research Healthcare Conference13 Nov, 2026
McKesson
Next McKesson earnings date
8th Annual Wolfe Research Healthcare Conference13 Nov, 2026
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Frequently asked questions
Global Healthcare Solutions
McKesson Corporation is a healthcare company, providing a wide range of services and solutions in the United States and internationally. The company operates through several segments, including U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. McKesson also offers technological, clinical support, and business solutions to specialty practices. McKesson Corporation is headquartered in Irving, Texas, and its shares are listed on the New York Stock Exchange.
Roots in the 1800s
The company has a history that stretches back to 1833 in NYC when it was founded as an importer and wholesaler of drugs and chemicals. Today, McKesson is one of the largest healthcare companies in the world, playing a critical role in pharmaceutical distribution and healthcare technology. The company is heavily involved in the distribution of pharmaceuticals and medical supplies, healthcare technology, and providing network infrastructure for the healthcare industry. Some similar companies traded on the public markets are Cardinal Health and Henry Schein.
The Business Segments
The company has diversified its operations into several business segments, each catering to different facets of the healthcare industry.
U.S. Pharmaceutical and Specialty Solutions: This is the largest segment of McKesson’s operations. It distributes pharmaceuticals and other healthcare-related products to a variety of customers, including retail pharmacies, hospitals, health systems, and physician offices. The segment is crucial for the supply of branded, generic, and over-the-counter pharmaceuticals. It also offers specialized solutions for oncology and other complex therapeutic areas, along with services like inventory management, technology solutions, and business support.
European Pharmaceutical Solutions: McKesson has a significant presence in Europe through its subsidiary McKesson Europe, where it operates a network of pharmacies, not just in the wholesale and distribution of pharmaceuticals, but also in direct-to-consumer retail operations. This segment includes the distribution of drugs, and healthcare products, and the operation of retail pharmacies in several European countries.
Medical-Surgical Solutions: This segment provides medical-surgical supply distribution, logistics, and other services to healthcare providers, including acute care hospitals, ambulatory surgery centers, community health centers, and office-based healthcare practitioners. The focus is on delivering a comprehensive range of products and services that are essential for the day-to-day operations of healthcare facilities, ensuring they have the necessary medical supplies and equipment.
Prescription Technology Solutions: This newer segment focuses on developing and providing software, analytics, and network solutions to pharmacies, healthcare providers, and payers. The aim is to optimize the healthcare supply chain, improve patient adherence to medications, and support pharmacy operations.