McKesson doesn’t expect Rite Aid’s bankruptcy to have much affect on profit outlook, liquidity

• McKesson Corp. does not expect Rite Aid’s bankruptcy to significantly impact its adjusted earnings outlook for fiscal 2024.
• Rite Aid’s bankruptcy is also not expected to have a material impact on McKesson’s liquidity position or operations.
• McKesson’s stock was inactive in premarket trading, while Rite Aid shares were halted.
• McKesson expects fiscal 2024 adjusted EPS of $26.55 to $27.35, slightly below the current FactSet consensus of $27.19.
• McKesson will release its fiscal second-quarter results on November 1.
• Over the past three months, McKesson’s stock has rallied 13% while the S&P 500 has slipped 3.9%.

McKesson Corp. has stated that Rite Aid’s bankruptcy announcement will not have a significant impact on its adjusted earnings outlook for fiscal 2024. The health care supply and retail pharmacy company also expects the bankruptcy to have no material impact on its liquidity position or operations. McKesson’s stock remained inactive in premarket trading, while Rite Aid shares were halted. McKesson anticipates fiscal 2024 adjusted EPS of $26.55 to $27.35, slightly below the current FactSet consensus of $27.19. The company is scheduled to release its fiscal second-quarter results on November 1. Over the past three months, McKesson’s stock has seen a 13% rally, while the S&P 500 has experienced a 3.9% decline.