McKesson Corp

MCK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$156.00	Nwzctx	Pdjbdfzm

McKesson Earnings: Strong Prescription Volume and GLP-1 Demand Reinforce Momentum

Keonhee Kim

Nov 2, 2023

Narrow-moat McKesson reported a better-than-expected second quarter. Total sales rose 10.1% year over year as increased prescription volumes, buoyed by specialty products and GLP-1 medications (diabetes and weight loss drugs) continued to bolster the top line. We raise our fair value estimate to $400 from $394, after baking in impacts from a slightly raised full-year assumption for U.S. pharmaceutical sales and the time value of money.

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