New York, Feb 5, 2026, 13:14 (EST) — Regular session
- McKesson shares jumped in regular trading after the company raised its profit forecast for 2026
- The drug distributor beat quarterly profit forecasts, driven by gains in oncology and specialty distribution
- Attention shifts to management’s updates on strategy and the upcoming medical-surgical split
Shares of McKesson Corp surged roughly 16% to $953.43 in early New York trading Thursday, following the U.S. drug distributor’s upbeat full-year profit forecast and a quarterly earnings beat.
This shift is significant as distributors focus more on specialty medicines—high-cost drugs for treatments like cancer care—where margins generally outpace standard wholesaling. These segments can also shift quickly, influenced by prescribing patterns and changes in customer mix.
Investors are closely tracking if McKesson can grow profits steadily without relying too much on one-off gains, even as it reshapes its portfolio and dives further into oncology services and biopharma support.
McKesson bumped up its fiscal 2026 adjusted EPS guidance to $38.80-$39.20, from the prior $38.35-$38.85 range. The move follows a Q3 adjusted EPS of $9.34, topping the $9.22 consensus, per LSEG data. Revenue hit $106.16 billion, just above the $105.86 billion forecast. U.S. pharmaceutical unit sales climbed 9% to $88.3 billion. CEO Brian Tyler highlighted the results as proof of the “strength” in the company’s core distribution business. (Reuters)
“Adjusted” earnings strip out items that complicate quarter-to-quarter comparisons. In this healthcare segment, traders usually zero in on that figure since reported results often swing due to legal settlements, restructuring costs, and various accounting tweaks.
McKesson confirmed it’s still aiming to spin off its medical-surgical unit, eyeing an IPO in the latter half of 2027. This timeline, along with how quickly specialty drugs expand, now heavily influences investor sentiment across the distributor sector.
McKesson submitted its quarterly results in a Form 8-K filing on Wednesday, under the SEC’s “Results of Operations and Financial Condition” category. (SEC)
Wells Fargo bumped up its price target on McKesson to $925 from $914 but held firm on an “Equal Weight” rating. The move reflects the company’s earnings beat and a slight upward revision to its full-year guidance. (TipRanks)
During the earnings call, chief financial officer Britt Vitalone highlighted the company’s “strong operational execution” and noted better efficiency in operating expenses compared to the previous year. (The Motley Fool)
That said, a steep one-day jump can be a double-edged sword. If specialty volumes start to falter or changes from payers and policies tighten margins, investors might have to reconsider how sustainable the gains really are—especially with a multi-year separation plan hanging over the horizon.
McKesson revealed that its management team will be present at the Leerink Partners Global Healthcare Conference from March 8 to 11, as well as the Barclays Global Healthcare Conference running March 10 to 12. Investors are set to scrutinize these dates closely for updates on growth, margins, and the medical-surgical strategy. (Mckesson)
