(Reuters) – Drug distributor McKesson missed estimates for third-quarter revenue on Wednesday, hurt by less-than-expected sales in its U.S. pharmaceutical segment, which includes branded and specialty drugs.
Shares of the Texas-headquartered company fell 3% in extended trading.
Drug distributors in the United States are expanding their presence in the market for specialty medicines, which treat complex conditions such as rheumatoid arthritis and cancer, due to their high profit margins.
Mckesson’s results are in contrast with peer Cardinal, which raised its 2025 profit forecast and beat quarterly earnings estimates last week, on strength in its pharmaceuticals unit.
The company reported third-quarter revenue of $95.29 billion, missing analysts’ average estimate of $96.08 billion, according to data compiled by LSEG.
The drug distributor’s U.S. pharmaceutical unit — its largest segment by revenue — recorded sales of $87.11 billion. While that was 19% higher than the year earlier, it missed analysts’ estimate of $88.92 billion.
On an adjusted basis, McKesson earned $8.03 per share, compared with the estimates of $7.99 per share.
Mckesson revised its profit forecast range to $32.55 to $32.95 per share for 2025, compared with its previous projection of $32.40 to $33.00 per share.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)
