McKesson Q1 FY2027: adjusted EPS up 20.0%, guidance raised, GAAP EPS down 18.0%
McKesson's adjusted profit grew 20.0% and management raised full-year guidance, so this quarter is a beat on the numbers investors watch most. The catch is the gap between adjusted and reported results: GAAP net income fell 22.0%, driven mostly by a $293 million charge tied to selling a slice of the medical-surgical business. Free cash flow was also negative at -$372 million, so read the two profit lines together, not one alone.
1 · Expected vs. Actual
Free preview belowAdjusted earnings per diluted share of $9.93 rose 20.0% from $8.26 and beat the $9.6305 consensus estimate by $0.30. GAAP earnings per diluted share of $5.15 fell $1.10 from $6.25, mostly from a $293 million redemption-value charge on the Medical-Surgical minority interest and $3.85 per share of transaction-related adjustments. The $4.78 gap between the two per-share numbers is the single most important thing to understand this quarter.
Revenue of $105.38 billion rose 8.0% from $97.83 billion a year ago. North American Pharmaceutical ($86.77 billion) and Oncology & Multispecialty ($14.22 billion, up 33.0%) did the heavy lifting, with oncology helped by provider solutions, specialty distribution and acquisitions. Growth was partly offset by lower contributions from branded pharmaceuticals.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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