NYSE$MCK

McKesson Corp · Q3 2026 earnings

Q3 2026 earnings · · After market close · Investor relations

Briefing

McKesson reported fiscal Q3 2026 revenues of $106.2B with net income attributable to McKesson of $1.19B.

Revenues increased 11% to $106.16 billion for the quarter ended December 31, 2025. Net income attributable to McKesson Corporation was $1.19 billion. Growth reflected North American Pharmaceutical segment volume and Oncology & Multispecialty specialty sales.

  • Q3 revenue $106.2B (+11% YoY).
  • North American Pharmaceutical and oncology mix drove growth.
  • Nine-month revenue $307.1B (+15% YoY).
  • Drug utilization and new product launches support outlook.

Headline financials

Total Revenue

$106B

Previous: $95.3B+11.4%
EPS (adj)

$8.65

Previous: $8.03+7.7%
Dividends Declared Per Common Share

$0.82

Previous: $0.71+15.5%
North American Pharma Adj. Op. Profit

$872M

Previous: $822M+6.1%
Oncology & Multispecialty Adj. Op. Profit

$366M

Previous: $233M+57.1%
Prescription Tech Solutions Adj. Op. Profit

$277M

Previous: $235M+17.9%
Medical-Surgical Solutions Adj. Op. Profit

$265M

Previous: $294M-9.9%
Other Adj. Op. Profit

$28M

Previous: $11M+154.5%
Capital Expenditures

-$325M

Previous: -$368M+11.7%
Free Cash Flow

$861M

No prior period
Net Income

$1.19B

Previous: $879M+34.9%
Operating Income

$1.62B

Previous: $1.29B+25.2%
Gross Profit

$3.69B

Previous: $3.28B+12.2%
Cash & Equivalents

$2.96B

No prior period
Total Assets

$84.2B

No prior period

Revenue & EPS history

McKesson · Revenue · Quarterly

$106B

Q3 2026+11.4%vs Q3 2025
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Revenue by segment

McKesson · $3.97B total across 2 segments · Q2 2024

  • Medical-Surgical Solutions
    $2.83B-0.3%
  • Prescription Technology Solutions
    $1.14B+12.0%

Forward guidance

Pharmaceutical distribution volume growth and specialty oncology mix support FY outlook.

Tailwinds

  • North American segment scale.
  • Oncology and multispecialty platforms.
  • Generic utilization trends.

Headwinds

  • Opioid litigation overhang.
  • Customer contract renewals.
  • Drug pricing regulation.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2026

Historical avgQ3 2026

+1.2%

Avg return

Earnings day

+0.6%

Avg return

5 days after

+1.1%

Avg return

30 days after

60%

44 / 73 earnings

Positive

+16.5%

Q3 2026

Best reaction

-21.7%

Q2 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026+0.2%-3.4%+2.8%
Q3 2026+16.5%+13.8%+11.8%
Q2 2026+1.5%+1.4%-4.2%
Q1 2026-5.8%-6.4%-2.3%
Q4 2025+0.4%-1.2%+3.3%
Q3 2025-1.2%+0.6%+6.1%
Q2 2025+15.7%+17.2%+14.9%
Q1 2025-10.9%-10.3%-17.9%
Q4 2024+1.9%+5.0%+9.9%
Q3 2024-2.5%-2.4%+4.1%
Q2 2024-1.7%+1.0%+2.0%
Q1 2024+7.4%+4.2%+1.8%
Q4 2023+6.2%+6.6%+5.1%
Q3 2023-3.2%-5.4%-8.7%
Q2 2023+0.1%+1.9%-2.5%
Q1 2023+0.8%+3.7%+8.6%
Q4 2022+4.5%+3.1%-1.1%
Q3 2022+4.1%+5.2%+9.7%
Q2 2022+5.3%+6.6%+3.6%
Q1 2022-3.3%-4.6%-0.1%
Q4 2021+4.5%+4.7%+3.1%
Q3 2021+1.0%+1.9%-4.1%
Q2 2021+9.2%+12.4%+17.8%
Q1 2021+4.6%+1.2%+4.1%
Q4 2020+0.8%+3.3%+8.3%
Q3 2020+5.7%+8.6%+0.8%
Q2 2020-11.0%-7.9%-3.2%
Q1 2020+4.0%+1.5%-3.0%
Q4 2019+7.1%+0.6%+3.7%
Q3 2019+1.9%+5.4%-0.4%
Q2 2019-2.6%+2.1%-0.3%
Q1 2019-7.1%-5.8%-2.8%
Q4 2018-0.7%-3.8%+1.4%
Q3 2018-5.7%-9.7%-11.2%
Q2 2018-10.4%-8.9%-4.4%
Q1 2018-2.3%-3.1%-11.3%
Q4 2017+7.7%+11.9%+12.5%
Q3 2017-6.6%-7.6%+1.7%
Q2 2017-21.7%-18.5%-9.8%
Q1 2017-1.4%-2.1%-6.9%
Q4 2016+2.7%
Q3 2016-6.4%
Q2 2016-2.0%
Q1 2016-4.1%
Q4 2015+1.7%
Q3 2015+5.7%
Q2 2015-2.1%
Q1 2015+2.2%
Q4 2014+5.3%
Q3 2014+0.7%
Q2 2014+8.3%
Q1 2014+5.4%
Q4 2013+7.3%
Q3 2013-2.3%
Q2 2013+3.4%
Q1 2013-1.0%
Q4 2012-0.7%
Q3 2012+3.0%
Q2 2012+6.3%
Q1 2012+0.7%
Q4 2011-0.2%
Q3 2011+2.3%
Q2 2011+6.0%
Q1 2011-0.7%
Q4 2008+3.8%
Q4 2010+3.8%
Q3 2010-3.1%
Q3 2009-3.1%
Q2 2010-3.2%
Q2 2009+8.9%
Q1 2009+8.9%
Q1 2010+8.9%
Q4 2009+8.9%

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