McKesson (NYSE:MCK) saw its shares decline nearly 2% in pre-market today after posting third-quarter earnings and revenue that fell short of analyst expectations. Despite the miss, the pharmaceutical distributor raised its full-year earnings guidance, signaling confidence in its long-term momentum.
For the quarter, McKesson reported adjusted earnings per share of $8.03, below the analyst forecast of $8.27. Revenue climbed 18% year-over-year to $95.29 billion but came in slightly under the expected $95.77 billion.
While the weaker-than-expected results weighed on investor sentiment, the company revised its fiscal 2025 guidance upward, tightening its adjusted EPS forecast to a range of $32.55 to $32.95 from its prior estimate of $32.40 to $33.00. The new midpoint of $32.75 now slightly exceeds Wall Street’s consensus of $32.67.
McKesson’s U.S. Pharmaceutical segment, its largest revenue driver, delivered a 19% increase to $87.1 billion, fueled by rising prescription volumes and expansion within its oncology platform.
Additionally, the company announced a strategic move to bolster its presence in vision care, securing an 80% controlling stake in PRISM Vision Holdings, LLC, a provider of ophthalmology and retina management services.
Although the earnings miss triggered a pullback in shares, McKesson’s continued revenue growth and strategic expansion suggest underlying strength as it looks ahead to 2025.