McKesson Corporation (NYSE:MCK) Q2 2024 Earnings Conference Call November 1, 2023 4:30 PM ET
Company Participants
Rachel Rodriguez - Vice President of Investor Relations
Brian Tyler - Chief Executive Officer
Britt Vitalone - Executive Vice President and Chief Financial Officer
Conference Call Participants
Eric Percher - Nephron Research
Lisa Gill - JPMorgan
Charles Rhyee - Cowen & Company
Brian Tanquilut - Jefferies
Eric Coldwell - Baird
Kevin Caliendo - UBS
Daniel Grosslight - Citi Research
Allen Lutz - Bank of America Merrill Lynch
Erin Wright - Morgan Stanley
Elizabeth Anderson - Evercore ISI
George Hill - Deutsche Bank
Operator
Please standby. Welcome to McKesson’s Second Quarter Fiscal 2024 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
Thank you, operator. Good afternoon, and welcome everyone to McKesson’s second quarter fiscal 2024 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 forecast 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 most current recent annual and 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 include a summary of our results for the quarter and updated guidance.
With that, let me turn it over to Brian.
Brian Tyler
Thank you, Rachel, and good afternoon, everybody. We appreciate you joining us on our call today. We are very pleased to report another solid quarter and fiscal 2024 with adjusted results of above expectations demonstrating our ability to consistently execute against company priorities and create sustained value for our shareholders.
In the second quarter revenues increased 10% to $77.2 billion. Adjusted earnings per diluted share were $6.23. When excluding certain items, adjusted earnings per diluted share increase 14% from the prior year. Our performance through the first half of the fiscal year combined with the continued momentum in advancing our company strategies gives us the confidence to raise our guidance for fiscal 2024 adjusted earnings per diluted share. Our previous guidance range of $26.55 to $27.35 has been updated to a range of $26.80 to $27.40.