McKesson
Q2 2023 Earnings Call
Nov 01, 2022, 4:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to McKesson's second quarter fiscal 2023 earnings conference call. Please be advised that today's conference is being recorded. At this time, I would like to turn the call over to Rachel Rodriguez, VP of investor relations. Please go ahead.
Rachel Rodriguez -- Vice President, Investor Relations
Thank you, operator. Good afternoon and welcome, everyone, to McKesson's second quarter fiscal 2023 earnings call. Today, I'm joined by Brian Tyler, our chief executive officer; and Britt Vitalone, our chief financial officer. Brian will lead off, followed by Britt, and then we will move to a question-and-answer session.
Today's discussion will include forward-looking statements, such as forecasts about McKesson's operations and future results. Please refer to the cautionary statements in today's earnings release and presentation slides available on our website at investor.mckesson.com and to the Risk Factors section of our periodic SEC filings for additional information concerning risk factors that could cause our actual results to materially differ from those in our forward-looking statements. Information about non-GAAP financial measures that we will discuss during this webcast, including a reconciliation of those measures to GAAP results, can be found in today's earnings release and presentation slides. The presentation slides also includes a summary of our results for the quarter and updated guidance assumptions.
With that, let me turn it over to Brian.
Brian Tyler -- Chief Executive Officer
Thanks, Rachel, and thanks to everyone for joining us on the call. Today, McKesson reported another good quarter with total company revenues of $70.2 billion and adjusted earnings per diluted share of $6.06. When excluding the contributions from COVID-19-related items and McKesson Ventures, our adjusted earnings per diluted share increased 11% from the prior year. As a result of our second quarter performance and business outlook, we are raising our guidance range for fiscal 2023 adjusted earnings per diluted share from $23.95 to $24.65 to an updated range of $24.45 to $24.95.
We're pleased with the financial performance through the first half of our fiscal 2023, driven by continued execution and momentum across the enterprise. Our core distribution businesses have performed well and shown great resilience in navigating the dynamic macro environment we're all operating in. We continue to strengthen our competitive advantage in oncology and biopharma services through both internal investment and acquisition as evidenced by the recent Rx Savings Solutions acquisition and the Sarah Cannon joint venture with HCA. We have established a differentiated position to win in both oncology and biopharma services.