RTTNews | Aug 3, 2020 07:17AM EDT

07:17 Monday, August 3, 2020 (RTTNews.com) - McKesson Corp. (MCK) increased its fiscal 2021 adjusted earnings per share guidance to $14.70 to $15.50 from the previous range of $13.95 to $14.75 to reflect earlier improvement in volumes relative to original expectations. The company continues to project adjusted earnings per share growth in the second half of fiscal 2021.

First quarter adjusted earnings per share was $2.77, down 16 percent from previous year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $2.30, for the quarter. Analysts' estimates typically exclude special items.

First quarter revenues were $55.68 billion compared to $55.73 billion, last year. Analysts expected revenue of $53.85 billion for the quarter. The company said its first-quarter revenues were flat year-over-year, as market growth and higher volumes from retail national account customers within the U.S. Pharmaceutical and Specialty Solutions segment were largely offset by the impact of lower prescription volumes and primary care patient visits across the enterprise.

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