McKesson Reiterates Fiscal 2015 Earnings Outlook

(RTTNews) - U.S. drug distributor McKesson Corp. (MCK) on Wednesday reaffirmed its earnings outlook for fiscal 2015.

Ahead of its Investor Day today in Boston Massachusetts, the San Francisco, California-based company reiterated its outlook for fiscal 2015 adjusted earnings of $10.40 to $10.80 per share.

On average, seventeen analysts polled by Thomson Reuters expect the company to report earnings of $10.66 per share for the year. Analysts' estimates typically exclude special items.

In mid-May, McKesson reported a 43 percent surge in profit for the fourth quarter from last year on double-digit revenue growth due to strong performance of its distribution solutions unit.

The company's net income for the fourth quarter was $371 million or $1.58 per share, up from $259 million or $1.10 per share for the year-ago quarter. Revenue for the quarter rose 25 percent to $38.14 million from $30.52 million in the same quarter last year.

MCK closed Tuesday's trading at $184.43, down $1.77 or 0.95 percent on a volume of 878,296 shares.