McKesson Corporation (NYSE:MCK) Q4 2020 Earnings Conference Call - Final Transcript

May 20, 2020 • 08:00 am ET


McKesson Corporation (NYSE:MCK) Q4 2020 Earnings Conference Call - Final Transcript


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Welcome to McKesson's Q4 Earnings Call. Today's conference is being recorded. At this time, I'd like to turn the call over to Holly Weiss. Please go ahead.

Holly Weiss

Thank you, Lashana. Good morning and welcome everyone to McKesson's Fourth Quarter Fiscal 2020 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'll 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 press release and our slide presentation 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.

During this call we will discuss non-GAAP financial measures. Additional information about our non-GAAP financial measures, including a reconciliation of those measures to GAAP results is included in today's release and presentation slides, which are available on our website at

With that, let me turn it over to Brian.

Brian S. Tyler

Thank you, Holly, and good morning, everybody. Appreciate you being with us on the call today. I sincerely hope that you and your families and your communities are staying healthy and safe as we navigate through these really extraordinary times. Today, we reported a strong finish to our fiscal 2020 with the trends we saw in the fourth quarter prior to the COVID-19 pandemic, reflecting a continuation of the momentum we experienced coming into and really throughout our fiscal year.

Throughout McKesson's 187-year history, we've demonstrated time and time again our ability to adapt and swiftly respond to the evolving needs of our customers, particularly in trying times, and the resiliency in the long-term strength of our business model.

Today, my remarks will echo similar themes. I want to walk you through McKesson's response to the COVID-19 pandemic and the essential role we play in the healthcare supply chain, the progress we've made this year against our strategic priorities and our FY '20 results, including the impact COVID-19 had on our fiscal fourth quarter. I also want to talk about why I'm confident that McKesson remains well positioned, now and especially over the longer term.

Before I begin, I want to acknowledge and really sincerely thank all of those are working so tirelessly to keep us healthy and safe during this crisis, including our customers and all frontline healthcare professionals, nurses, physicians, first responders, literally around the world.

Thank you to each and every one of our 80,000 McKesson associates for their passion, their energy, in many cases -- courage -- these past several months, working around the clock to maintain McKesson's operations and support our customers and frontline caregivers during these challenging times.

I want to particularly recognize our colleagues, who are on our front lines, like those in our distribution centers, in our pharmacies in Canada and Europe, supporting community practices, and our