McKesson Board Authorizes Additional $4.0 Bln Share Buyback - Quick Facts

(RTTNews) - McKesson Corp. (MCK) announced its Board has approved an additional share repurchase authorization of $4 billion, as the company believes that its shares are an attractive investment opportunity and repurchasing stock is an important part of its diversified capital allocation strategy.

Fourth-quarter adjusted earnings per share was $3.49, up 2% compared to $3.41 a year ago. Revenues were $51.6 billion, up 6% compared to $48.7 billion a year ago. On a constant currency basis, revenues increased 4% over the prior year.

For the full year, McKesson generated cash from operations of $4.3 billion and ended the year with cash and cash equivalents of $2.7 billion.

McKesson expects adjusted earnings per share of $13.00 to $13.80 for the fiscal year ending March 31, 2019. McKesson expects to deliver mid-single digit percent revenue growth in the fiscal year.