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Research Alert: Mck: Q4 Fy 26 Eps Beats, North American Pharma Sales Growth Slows

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

MCK completed FY 26 with Q4 adjusted EPS of $11.69 (+16% Y/Y), beating consensus by $0.12 and driving full-year adjusted EPS of $39.11 (+18% Y/Y), above guidance midpoint of $38.60. Consolidated revenues of $96.3B (+6% Y/Y) fell short of consensus by ~5%, though full-year sales rose 12% to $403.4B driven by prescription volume growth and strategic acquisitions. We view favorably the strong performance in higher-margin segments, particularly Oncology & Multispecialty with 35% sales growth and 53% adjusted operating profit growth, supporting margin expansion of 36 bps to 3.03%. Initial FY 27 guidance met expectations with adjusted EPS midpoint of $44.20 (+13% Y/Y). The Medical-Surgical separation progresses well with Apollo's 13% minority stake acquisition, while significant capital returns continue via a $2.25B accelerated share repurchase program and $5.0B new authorization. We believe MCK's focus on specialty segments and robust FCF generation supports continued outperformance, in our view.

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