RTTNews | Feb 2, 2021 07:39AM EST

07:39 Tuesday, February 2, 2021 (RTTNews.com) - While reporting financial results for the third quarter on Tuesday, McKesson Corp. (MCK) raised its adjusted earnings guidance for the full-year 2021 to reflect improved growth in the business and the contribution from its successful distribution of COVID-19 vaccines and ancillary supplies.

For fiscal 2021, the company now projects adjusted earnings in a range of $ $16.95 to $17.25 per share, up from the previous guidance range of $16.00 to $16.50 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $16.42 per share for the year. Analysts' estimates typically exclude special items.

Additionally, McKesson's Board of Directors authorized an additional $2.0 billion share repurchase program, demonstrating confidence in McKesson's diversified capital allocation strategy.

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