McKesson Corp

MCK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$925.00	Pwmglq	Vfywykmnh

McKesson Earnings: Distribution and Services Gain on Specialty and GLP-1s, but Margins Weak

Keonhee Kim

Feb 8, 2024

Narrow-moat McKesson's strong third-quarter earnings came in above our expectations. Total sales were up 14.8% as the firm’s base distribution business continued its robust momentum. After raising our near-term assumptions and accounting for the time value of money impacts, we lift our fair value estimate to $410 per share from $400.

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