McKesson misses by $0.11, misses on revs; guides FY17 EPS below consensus :
- Reports Q2 (Sep) earnings of $2.94 per share, excluding non-recurring items, $0.11 worse than the Capital IQ Consensus of $3.05; revenues rose 2.5% year/year to $49.96 bln vs the $51.23 bln Capital IQ Consensus.
- Co issues downside guidance for FY17, sees EPS of $12.35-12.85 (Prior $13.43-13.93), excluding non-recurring items, vs. $13.55 Capital IQ Consensus Estimate.
- "Our updated outlook for Fiscal 2017 reflects McKesson's expectation of a lower profit contribution resulting from recent customer pricing activities and lower operating profit as a result of further moderating branded pharmaceutical pricing trends compared to previous expectations," said John H. Hammergren, chairman and chief executive officer. "While we work to actively respond to these market forces, we remain focused on our long-term strategy of innovation and value-added solutions. And though we responded quickly to maintain market share and mitigate these pricing challenges, we recognize the near-term impact requires a revision to our outlook."
No comments:
Post a Comment