McKesson Corp
MCK: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$761.00 | Snqqfr | Sjhxwnpm |
McKesson Earnings: GLP-1 Products Fuel Robust Sales Growth, but It Comes With Margin Headwinds
Narrow-moat McKesson kicked off fiscal 2024 with better-than-expected first-quarter results. Total sales were up 10.9%, driven by strong performance from its base distribution business. Management raised both top- and bottom-line guidance for the year as a result of a strong three-month performance and a healthier outlook. After updating our near-term assumptions and accounting for the time value of money, we raise our fair value estimate to $395 from $375.