McKesson Corp.'s fiscal first-quarter adjusted earnings from continuing operations were $625 million, up 6% from $589 million in the prior-year period.
The San Francisco-based healthcare company's adjusted EPS from continuing operations for the first quarter of fiscal 2020 was $3.31, up year over year from $2.90.
The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter ended June 30 was $3.01.
Revenue increased year over year to $55.73 billion from $52.61 billion.
On a GAAP basis, net loss from continuing operations attributable to the company was $429 million, or a loss of $2.27 per share, compared with a loss of $139 million, or a loss of 69 cents per share in the year-ago period.
For the first quarter, McKesson used cash from operations of $51 million and invested $111 million internally, resulting in negative free cash flow of $162 million. The company paid $46 million for acquisitions and returned $759 million of cash to shareholders via $684 million of common stock repurchases and $75 million of dividend payments.
The healthcare company said its board approved a 5% increase in the quarterly dividend to 41 cents per share.
McKesson raised fiscal 2020 adjusted EPS guidance to a range of $14 to $14.60 from a range of $13.85 to $14.45.
In addition, the company noted that after the completion of Change Healthcare Inc.'s IPO, McKesson owns about 58.5%, down from 70%. McKesson reaffirmed the guidance range for adjusted equity earnings from Change Healthcare of about $250 million to $270 million in fiscal 2020.