McKesson Corp

MCK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$292.00	Qxbbjx	Zghbzymqx

McKesson Earnings: GLP-1 Products Fuel Robust Sales Growth, but It Comes With Margin Headwinds

Keonhee Kim

Aug 3, 2023

Narrow-moat McKesson kicked off fiscal 2024 with better-than-expected first-quarter results. Total sales were up 10.9%, driven by strong performance from its base distribution business. Management raised both top- and bottom-line guidance for the year as a result of a strong three-month performance and a healthier outlook. After updating our near-term assumptions and accounting for the time value of money, we raise our fair value estimate to $395 from $375.

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