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Sentiment · FY2026 Q4
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Are we talking about maybe some of the more traditional drug distributors like a McKesson or Cencora in this market?”
An analyst asked whether traditional wholesalers like McKesson compete with Cigna's CuraScript specialty distribution business; management clarified they don't compete directly since CuraScript is medical-benefit specialty focused.
“In the fourth quarter we originated a $36 million development loan with purchase option on a development that's 100% preleased to McKesson and adjacent to a Baylor Scott & White hospital in Dallas.”
Healthpeak originated a $36M development loan with purchase option on a Dallas outpatient medical development that is 100% preleased to McKesson, indicating a new tenant/customer commitment.
“we recorded a GAAP-only pretax credit of $160 million or $118 million after tax within the North American pharmaceutical segment related to the bankruptcy of Rite Aid.”
McKesson recorded a $160M pretax credit tied to the bankruptcy of pharmacy customer Rite Aid, a negative read-through on Rite Aid's collapse.
“The acquisitions of PRISM and Core Ventures in the Oncology and Multispecialty segment contributed approximately 6% to year-over-year growth.”
McKesson's Core Ventures acquisition contributed meaningfully to Oncology and Multispecialty segment growth and profit.
“PRISM Vision recently expanded its footprint with the addition of Spokane Eye Clinic, located in Spokane, Washington extending its reach now beyond the Mid-Atlantic region.”
McKesson's acquired PRISM Vision platform expanded nationally by adding Spokane Eye Clinic, a read-through on McKesson building out a comprehensive eye-care platform.
“progress continued with the integration of Florida Cancer Specialists and PRISM Vision, bringing both practice groups onto our distribution and GPO agreements to unlock the full value of our broader services and take advantage of the expanded relationships.”
McKesson continued integrating Florida Cancer Specialists onto its distribution and GPO agreements within the new oncology and multispecialty segment.
“This charge represents the remaining trade accounts receivable balances due from Rite Aid prior to its second bankruptcy filing.”
McKesson recorded a $189M bad-debt charge on receivables from Rite Aid ahead of its second bankruptcy filing, a distressed read-through for the Rite Aid pharmacy chain.
“Lilly and Novo seem to be really expanding their cash pay GLP-1 programs via LillyDirect to NovoCare, which obviates the need for PA.”
Lilly is rapidly expanding its LillyDirect cash-pay GLP-1 channel, which bypasses the prior-authorization process that underpins a portion of McKesson's Prescription Technology Solutions revenue, signaling a growing direct-to-consumer threat to McKesson's access-services business model.
“Last year we acquired certain assets from US Retina and launched a new GPO program called Onmark Vision.”
McKesson acquired assets from US Retina last year, seeding its retina/ophthalmology platform ahead of the PRISM Vision acquisition.
“We also provide clinical trial services to community based practices through the Sarah Cannon Research Institute Joint Venture which we often refer to SCRI. Last year the patient accruals through clinical trials increased 25% within SCRI. It participated in the development of 33 of the 47 therapies approved by the FDA.”
McKesson's Sarah Cannon Research Institute joint venture grew clinical trial patient accruals 25% and contributed to 33 of 47 FDA-approved therapies last year.
“you have 2 large mail order pieces of business with both Optum and Caremark.”
An analyst references McKesson's large mail-order pharmacy relationships with PBMs Optum (UnitedHealth) and Caremark (CVS Health) amid discussion of formulary-driven biosimilar revenue impacts.
“you have 2 large mail order pieces of business with both Optum and Caremark.”
An analyst references McKesson's large mail-order pharmacy relationships with PBMs Optum (UnitedHealth) and Caremark (CVS Health) amid discussion of formulary-driven biosimilar revenue impacts.
“We're excited to sign an agreement to acquire a controlling interest in PRISM Vision. Its affiliated practices include 180 providers, 91 office locations and seven ambulatory surgery centers.”
McKesson agreed to acquire an 80% controlling interest in PRISM Vision, a general ophthalmology and retina management services platform, for approximately $850 million, expanding its specialty-services strategy beyond oncology.
“Finally, as a result of Rite Aid's emergence from bankruptcy in August of 2024, we reassessed our initial estimates made in conjunction with the previously reserved balances which included cash received as part of the bankruptcy emergence, resulting in a reversal of $203 million recorded in our U.S. pharmaceutical segment during the second quarter of fiscal 2025.”
Rite Aid's bankruptcy emergence closed out a reserve exposure for McKesson, a financial cleanup event rather than an ongoing business signal for Rite Aid (now private).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dan Grosslight | Citigroup | 6 (0%) |
| Lisa Gill | JPMorgan | 6 (0%) |
| Allen Lutz | Bank of America | 6 (0%) |
| Erin Wright | Morgan Stanley | 5 (0%) |
| Brian Tanquilut | Jefferies | 5 (0%) |
| Eric Percher | Nephron Research | 5 (0%) |
| Elizabeth Anderson | Evercore ISI | 5 (0%) |
| Charles Rhyee | TD Cowen | 5 (0%) |
| Kevin Caliendo | UBS | 4 (0%) |
| Steve Baxter | Wells Fargo | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 1 | 6 (0%) |
| Citigroup | 1 | 6 (0%) |
| JPMorgan | 1 | 6 (0%) |
| Nephron Research | 1 |
| 5 (0%) |
| TD Cowen | 1 | 5 (0%) |
| Jefferies | 1 | 5 (0%) |
| Evercore ISI | 1 | 5 (0%) |
| Leerink Partners | 2 | 5 (0%) |
Revenue reached $106.2 billion, up 11%, with O&M segment operating profit growing 57% and RxTS growing 18% on strong prescription verification volumes. GLP-1 revenues of $14 billion grew 26% while the Norway divestiture completed McKesson's exit from Europe entirely. FY2026 EPS guidance was raised to $38.80-$39.20, representing 17-19% growth.
Competitive Dynamics | Demand | Guidance Reliability | Revenue Growth | M&A | Innovation & R&D | Margin | Regulation Policy | |
|---|---|---|---|---|---|---|---|---|
| 2025Q3 | 4 | 3 | 2 | 1 | 3 | 1 | 2 | |
| 2025Q4 | 3 | 1 | 2 | 2 | 1 | 1 | 1 | 2 |
| 2026Q1 | 3 | 4 | 2 | 3 | 1 | 2 | 1 | 3 |
| 2026Q2 | 5 | 3 | 5 | 1 | 3 | 2 | 3 | 2 |
| 2026Q3 | 3 | 2 | 3 | 4 | 2 | 4 | 3 | 1 |
| 2026Q4 | 3 | 3 | 1 | 2 | 2 | 1 | 1 | 2 |
| '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | '26Q4 | |
|---|---|---|---|---|---|---|
| Competitive Dynamics | 4 | 3 | 3 | 5 | 3 | 3 |
| Demand | 3 | 1 | 4 | 3 | 2 | 3 |
| Guidance Reliability | 2 | 2 | 2 | 5 | 3 | 1 |
| Revenue Growth | 1 | 2 | 3 | 1 | 4 | 2 |
| M&A | 3 | 1 | 1 | 3 | 2 | 2 |
| Innovation & R&D | 1 | 1 | 2 | 2 | 4 | 1 |
| Margin | 2 | 1 | 1 | 3 | 3 | 1 |
| Regulation Policy | 2 | 3 | 2 | 1 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
MCK McKesson Corporation | 8 | +6.0% | |
| CAH Cardinal Health | 9 | +11.1% | |
| COR Cencora | 8 | +3.9% | |
| HSIC Henry Schein | 6 | +6.3% |