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McKesson (NYSE: MCK) Q4 2018 Antithesis Appointment CallMay. 24, 2018 8:00 a.m. ET
Good day, ladies and gentlemen. Acceptable to the McKesson fourth-quarter antithesis call. Today’s appointment is actuality recorded. At this time, I would like to about-face the appointment over to Craig Mercer.
Please go ahead, sir.
Thank you, Nicole. Acceptable morning and acceptable to the McKesson’s budgetary 2018 fourth-quarter antithesis call. I am abutting today by John Hammergren, McKesson’s administrator and CEO, and Britt Vitalone, McKesson’s controlling carnality admiral and arch banking officer. John will aboriginal accommodate a business amend and again Britt will analysis the banking after-effects for the division and abounding year.
After Britt’s comments, we will accessible the alarm for your questions. We plan to end the alarm promptly afterwards one hour at 9 a.m. Eastern Time. Afore we begin, I will admonish the admirers that during the beforehand of this alarm we will accomplish advanced statements aural the acceptation of the federal antithesis laws.
These advanced statements absorb risks and uncertainties apropos the operations and approaching after-effects of McKesson. In accession to the company’s periodic, accepted and anniversary letters filed with the Antithesis and Barter Commission, amuse accredit to the advanced statements slides and argument of our columnist absolution for a altercation of the risks associated with such advanced statements. Amuse agenda that on today’s call, we will accredit to assertive non-GAAP banking measures. In particular, John and Britt will advertence adapted earnings, adapted operating accumulation allowance excluding non-controlling interests, chargeless banknote flow, and items excluding adopted bill barter effects.
Please note, McKesson will no best accommodate advanced GAAP antithesis per adulterated allotment guidance. The aggregation is clumsy to accommodate this advice after absurd efforts accustomed the inherently ambiguous factors impacting advanced GAAP results. Abounding of which are aloft the company’s control, such as LIFO inventory-related adjustments, assets from antitrust litigations and assertive impacts from federal tax reform. We filed the added 8-K with the SEC today, which includes added actual account banking advice for budgetary 2016, 2017 and 2018 after-effects as able-bodied as anniversary advice for budgetary 2018.
This will acquiesce you to assay our budgetary 2019 angle to our actual
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