McKesson stock dives on fiscal Q1 revenue miss

Shares of McKesson Corporation (MCK) are dropping after the company posted its fiscal first quarter results revealing it fell below analysts' revenue expectations. Its prescription technology solutions and US pharmaceuticals segments were key contributors to the revenue miss.

Market Domination Anchors Josh Lipton and Julie Hyman break down the latest developments for McKesson and what it could mean for the pharmaceutical distributor and healthcare company moving forward.

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This post was written by Nicholas Jacobino

Video transcript

Mckesson Corporation shares are sliding the prescription drug distributors revenue forecast for the year, falling short of analyst expectations and in particular here also even last quarter.

If you look at a couple of its different areas medical surgical solutions, the revenue there up 1%.

But it fell short of estimates and prescription G Solutions revenue, uh, down 2/10 of 1% and missing estimates and that it seems like that's kind of Josh.

What, um, what, uh, analysts were highlighting those couple of areas where there was some more weakness.

Yeah, the real I. I think people made a beeline for that revenue in the company's prescription technology solutions segment because that includes the G, LP, one drug patient services.

And that did come in light 1.24 billion That misses the street.

Want to see something close to 1.46 billion?

So some disappointment there.

And this was another name, by the way, the officer investors have, you know, piled into as well Yeah, I mean, and the company also announced a buy back, by the way, $4 billion buyback authorization.

But that didn't help, uh, to your point, the shares up about 17% this year.

Even with that, that pull back that we saw today