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McKesson Corp. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: July 26, 2012 04:21PM
McKesson Corp. (MCK) filed Quarterly Report for the period ended 2012-06-30. Mckesson Corporation has a market cap of $22.52 billion; its shares were traded at around $92.23 with a P/E ratio of 14.9 and P/S ratio of 0.2. The dividend yield of Mckesson Corporation stocks is 0.8%. Mckesson Corporation had an annual average earning growth of 12.4% over the past 10 years. GuruFocus rated Mckesson Corporation the business predictability rank of 4.5-star.
Highlight of Business Operations:Revenues for the first quarter of 2013 increased 3% to $30.8 billion compared to the same period a year ago. The increase in revenues primarily reflects market growth in our Distribution Solutions segment, which accounted for approximately 97% of our consolidated revenues.
Net income for the first quarter of 2013 increased 33% to $380 million and diluted earnings per common share for the first quarter of 2013 increased 40% to $1.58 compared to the same period a year ago. Diluted earnings per common share for 2013 also benefited from our repurchase of common stock.
Total revenues increased for the first quarter of 2013 compared to the same period a year ago primarily due to our Distribution Solutions segment, which accounted for approximately 97% of our consolidated revenues.
Operating expenses and operating expenses as a percentage of revenues for the first quarter of 2013 decreased compared to the same period a year ago primarily due to the gain on business combination, partially offset by increases due to the addition of the Katz Assets, higher employee compensation and benefit costs and an AWP litigation charge of $16 million.
Weighted Average Diluted Common Shares Outstanding: Diluted earnings per common share were calculated based on a weighted average number of shares outstanding of 240 million and 254 million for the first quarters of 2013 and 2012. The decrease in the number of weighted average diluted common shares outstanding primarily reflects the effect of share repurchases during the last twelve months, partially offset by exercises of share-based awards.
Stocks Discussed: MCK,