McKesson Corp Files Q2 2024 10-Q

TL;DR

McKesson's Q2 2024 10-Q is in: check financials for the healthcare giant.

AI Summary

McKesson Corporation filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the second quarter and the first half of its fiscal year. Key financial data and operational details are presented in this filing, which covers the period from July 1, 2024, to September 30, 2024, and the six months ended September 30, 2024.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for McKesson, a major player in the healthcare industry, impacting investment decisions and market analysis.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new or elevated risks.

Key Numbers

• 20240930 — Period End Date (The filing covers financial data up to this date.)
• 20241107 — Filing Date (The date the report was officially submitted to the SEC.)
• 2024-04-01 — Fiscal Year Start Date (Beginning of the reporting fiscal year.)
• 2024-09-30 — Quarter End Date (End date for the second quarter of the fiscal year.)
• 2023-09-30 — Prior Year Quarter End Date (Comparison point for the current quarter's performance.)

Key Players & Entities

• MCKESSON CORP (company) — Filer
• 20240930 (date) — Period of Report
• 20241107 (date) — Filing Date
• 6555 STATE HIGHWAY 161 (address) — Business Address
• IRVING (city) — Business Address City
• TX (state) — Business Address State
• 75039 (zip_code) — Business Address Zip
• 972-446-4800 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — nge on which registered) Common stock, $0.01 par value MCK New York Stock Exchange

Filing Documents

• mck-20240930.htm (10-Q) — 1918KB
• mck_exhibit101930202410-q.htm (EX-10.1) — 1230KB
• mck_exhibit311x930202410-q.htm (EX-31.1) — 10KB
• mck_exhibit312x930202410-q.htm (EX-31.2) — 10KB
• mck_exhibit32x930202410-q.htm (EX-32) — 9KB
• mck-20240930_g1.jpg (GRAPHIC) — 11KB
• 0000927653-24-000125.txt ( ) — 11420KB
• mck-20240930.xsd (EX-101.SCH) — 53KB
• mck-20240930_cal.xml (EX-101.CAL) — 82KB
• mck-20240930_def.xml (EX-101.DEF) — 367KB
• mck-20240930_lab.xml (EX-101.LAB) — 726KB
• mck-20240930_pre.xml (EX-101.PRE) — 555KB
• mck-20240930_htm.xml (XML) — 1709KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 1 Condensed Consolidated Financial Statements Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended September 30, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of September 30, 2024 and March 31, 2024 5 Condensed Consolidated Statements of Stockholders' Deficit for the three and six months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended September 30, 2024 and 2023 8 Financial Notes 9 Note 1 - Significant Accounting Policies 9 Note 2 - He ld for Sale 11 Note 3 - Restructuring, Impairment, and Related Charges, Net 13 Note 4 - Income Taxes 15 Note 5 - Earnings Per Common Share 17 Note 6 - Goodwill and Intangible Assets, Net 18 Note 7 - Debt and Financing Activities 19 Note 8 - Hedging Activities 21 Note 9 - Fair Value Measurements 22 Note 10 - Commitments and Contingent Liabilities 24 Note 1 1 - Stockholders' Deficit 28 Note 1 2 - Segments of Business 32 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 35 3 Quantitative and Qualitative Disclosures About Market Risk 52 4 Controls and Procedures 53

—OTHER INFORMATION

PART II—OTHER INFORMATION 1 Legal Proceedings 53 1A Risk Factors 53 2 Unregistered Sales of Equity Securities and Use of Proceeds 53 3 Defaults Upon Senior Securities 54 4 Mine Safety Disclosures 54 5 Other Information 54 6 Exhibits 56

Signatures

Signatures 57 2 Table of Contents McKESSON CORPORATION

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share amounts) (Unaudited) Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Revenues $ 93,651 $ 77,215 $ 172,934 $ 151,698 Cost of sales ( 90,403 ) ( 74,146 ) ( 166,534 ) ( 145,607 ) Gross profit 3,248 3,069 6,400 6,091 Selling, distribution, general, and administrative expenses ( 2,503 ) ( 2,092 ) ( 4,504 ) ( 3,962 ) Claims and litigation charges, net 4 2 ( 108 ) 2 Restructuring, impairment, and related charges, net ( 171 ) ( 28 ) ( 181 ) ( 80 ) Total operating expenses ( 2,670 ) ( 2,118 ) ( 4,793 ) ( 4,040 ) Operating income 578 951 1,607 2,051 Other income, net 34 26 164 64 Interest expense ( 78 ) ( 61 ) ( 153 ) ( 108 ) Income before income taxes 534 916 1,618 2,007 Income tax expense ( 247 ) ( 213 ) ( 371 ) ( 307 ) Net income 287 703 1,247 1,700 Net income attributable to noncontrolling interests ( 46 ) ( 39 ) ( 91 ) ( 78 ) Net income attributable to McKesson Corporation $ 241 $ 664 $ 1,156 $ 1,622 Earnings per common share attributable to McKesson Corporation Diluted $ 1.87 $ 4.92 $ 8.89 $ 11.95 Basic $ 1.88 $ 4.95 $ 8.94 $ 12.03 Weighted-average common shares outstanding Diluted 129.3 134.8 130.0 135.7 Basic 128.7 134.1 129.3 134.8 See Financial Notes 3 Table of Contents McKESSON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) (Unaudited) Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Net income $ 287 $ 703 $ 1,247 $ 1,700 Other comprehensive income (loss), net of tax Foreign currency translation adjustments 34 ( 64 ) 3 ( 12 ) Unrealized gain (loss) on cash flow and other hedges ( 9 ) 25 ( 9 ) 32 Changes in retirement-related benefit plans ( 2 ) — ( 3 ) ( 2 ) Other comprehensive income (loss), net of tax 23 ( 39 ) ( 9 ) 18 Comprehensive income 310 664 1,238 1,718 Comprehensi

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View this 10-Q filing on SEC EDGAR