McKesson Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. The company reported earnings were $47.9 billion, up 3% compared to $46.5 billion a year ago. On a constant currency basis, revenues increased 5% over the prior year. On the basis of U.S. generally accepted accounting principles, third-quarter earnings per diluted share from continuing operations was $2.71 compared to $2.04 a year ago. Third-quarter adjusted earnings per diluted share was $3.18, up 9% on a reported basis and up 10% on a constant currency basis over the prior year. Operating income was $920 million against $800 million a year ago. Income from continuing operations before income taxes was $846 million against $719 million a year ago. Income from continuing operations after tax was $642 million or $2.71 diluted per share against $521 million or $2.04 diluted per share a year ago. Net income attributable to company was $634 million or $2.73 diluted per share against $472 million or $2.00 diluted per share a year ago. Revenues were negatively impacted by $1.1 billion as a result of foreign currency rate movements.

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.