McKesson Corp (MCK) released its fourth quarter results on Monday, May 10, 2021. The company reported net earnings of $4.15 per share for the fourth quarter ending March 31, 2021. Earnings for this past quarter declined 29 percent compared to the same period a year ago.
McKesson Corporation was founded in 1833 and is headquartered in Irving, Texas. McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, International, and Medical-Surgical Solutions.
McKesson's revenue increased 3 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 5.95% for the fourth quarter compared to the same period in the previous year, and operating margins decreased to 1.81% over the same period. Net earnings for past trailing twelve months were $-4538.0 million, down 601% from the prior year.
Moving on to the balance sheet, McKesson's cash levels jumped 56% for the fourth quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 3.88% this past year. The current ratio for McKesson now stands at 1.03. The company decreased shares outstanding by 2.47%.
Shares of MCK are currently trading around $202.13.