McKesson Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2016 and Fiscal 2017
For the nine-month period, the company reported revenues were $144,206 million against $134,120 million a year ago. Operating income was $2,805 million against $2,268 million a year ago. Income from continuing operations before income taxes was $2,581 million against $2,037 million a year ago. Income from continuing operations after tax was $1,877 million or $7.86 diluted per share against $1,431 million or $5.85 diluted per share a year ago. Net income attributable to company was $1,827 million or $7.81 diluted per share against $1,344 million or $5.72 diluted per share a year ago. Net cash provided by operating activities was $566 million against $1,229 million a year ago. Property acquisitions were $272 million against $281 million a year ago. Capitalized software expenditures were $145 million against $118 million a year ago.
The company expects adjusted earnings per diluted share between $12.60 and $12.90 for the fiscal year ending March 31, 2016, based on an exchange rate of $1.10 per euro and excluding the following GAAP items. The company continue to expect adjusted tax rate to be approximately 29.5%. The company continue to expect cash flow from operations to be approximately $3 billion. The company also expect between $0.72 and $0.82 per share in LIFO-related adjustments.
The company expects growth in adjusted earnings per diluted share for fiscal 2017 to be between 3% and 8%, as reported, and between 7% and 12%, excluding 48 cents of gains on the disposition of two businesses and favorable discrete tax items in Fiscal 2016.