and and Distribution part Day I'll XXXX results, the Today, I'll in Thank full core afternoon. our we At transformation of December, remains at Investor our then year company. outline underway fiscal quarter Brian, good guidance. fourth discuss you, discussed our McKesson. XXXX a our fiscal
to However, sustainable we're advance differentiated as businesses. and across company, earnings care and services health assets a we delivering on growth continue built executing, strategies diversified grow our
been working portfolio; provided momentum our confidence through then, for and factors: advance long-term operating the articulated McKesson's ecosystem; achieve biopharma we've services and our of XXXX successful three on the and capital, to we effective assets capabilities; capital fiscal execution. remain allocation streamlining targets confident focus we've and that As interconnected including leveraging oncology our we'll is that the We and generating based beyond. best-in-class
future strategies on The Let to our our early announced to investments allow portfolio a European complete streamline of McKesson European growth to XXXX, by intent exit full strategic aligning set the region. transaction announced our transaction of PHOENIX me six In half to operations focus certain we discussing Europe. remain the the streamline an update other and start with progress. fiscal the operations well. sell portfolio, our made exit assets. actions. of the second in is in it XXXX, close We've Group the In North XXXX. of committed proceeding fiscal with transaction will We We to July America. anticipate to The this good in countries to we
April In completed sale and share to sale following UK joint the fourth Recently, and closed to retail of AURELIUS, We which remaining the Alliance. on we of X. venture we to have quarter sale successfully our Boots of German McKesson's Austrian completed the McKesson's the management, fiscal XXXX, of the businesses of closed transactions. Walgreens our business distribution Quadrifolia
fiscal XXXX, of During of retail GAAP-only the distribution our the quarter recorded to to sell UK agreement and million fourth related we $XXX charge a business.
continue Finally, alternatives remaining contributed to our operations XXXX, operating fiscal our diluted and profit including we to strategic European operations, In exit adjusted million $XXX explore Denmark. in treatment held-for-sale per accounting or $X.XX Norway of share. impacts,
fiscal anticipate the to operations we for For includes accretion from will the $X.XX, transaction XXXX, European Group. accounting our resulting approximately $X.XX the held-for-sale for contribute which remaining PHOENIX
share through As I earnings deploy call, we offset the to mentioned on third capital to European resulting dilution repurchases divestitures. our from intend the quarter
My We're adjusted year-over-year year the for of of share basis, year was a move on will earnings for solid fiscal unless strong Let earnings quarter exiting the with execution a me XXXX year, results our state XXXX and another refer today McKesson. $X.XX, delivering share now of of to operating $XX.XX. full fourth to per per Fiscal otherwise. performance, review XXXX fiscal our I comments results.
Our revenue results full across business and segment. year growth profit every included
the items. also XXXX core growth earnings included In share per fiscal following addition diluted in to three businesses, our
kitting program, to to with related McKesson $X.XX was to $X.XX equity and Ventures included distribution related $X.XX to of and $X.XX COVID-XX is related associated first distribution vaccine gains the ancillary COVID-XX finally, investments. COVID-XX which and distribution storage the US related tests, vaccine centralized net to and $X.XX related supplies. The kitting, government's
the fiscal share impact protective fiscal Excluding to of charges other related products, diluted equipment per personal these impairment and year-over-year. increased XX% XXXX related earnings XXXX inventory and items
the the X% quarter, was fourth the U.S. distribution in Operating net to partially by of quarter our customers X%. offset divestitures ancillary Solutions PPE in higher increase care increases related profit Gross $XX.X specialty Solutions existing When our for segment, increase which impairments account segment, by the volumes the the patient primary conversions. consolidated by billion US COVID-XX For the by and impact new for equity prior of products, related due increased with of Medical-Surgical driven retail from and related announced lower with including associated the also profit market care COVID-XX national volume $X.X Medical-Surgical solid by charges volumes partially increased increased due Prescription International generic Ventures our an related XX%, on for led accounting prior of segments, held-for-sale X%, increased distribution by of supplies driven across growth, impacted in products, were year to the PPE $X.X COVID-XX and and branded to in gains Solutions segment. customers Technology by the billion X%, resulting investments segment, impact was offset quarter, in vaccines Gross of to McKesson in of positively volumes year to and an expenses products, government profit contribution in profit the and Pharmaceutical revenues excluding Medical-Surgical billion offset and increased Operating on segment. quarter growth the operating increased our visits the primarily business. tests. from performance the inventory operating segment of in was partially
in line, announced $X.X of tender $XX a of expense fiscal offer previously quarter XX% due net XXXX, the the XXXX. of was quarter, in approximately of fiscal below interest including billion a the decrease to the retirement second Moving in million debt long-term
XXXX. XX.X% shares ramping rate quarter was consolidated were up outstanding throughout of million, from And share decrease resulting a average XXX.X repurchases X% tax our Our for year-over-year weighted quarter. diluted fiscal results, fourth the
by from quarter lower which branded of $XX.X vaccine to due specialty by be retail year of found volumes to demand growth, profit fiscal account of starting XX. $XXX higher through partially increase to seven X% segment COVID-XX and on systems. partially providers with growth US of distribution, from vaccine third contract of specialty a as quarter, declined distribution health distribution by the products an compared generic Operating government approximately Pharmaceutical. products, Revenues sequentially, lessen offset customers our and including COVID-XX along billion, demand volume driven to million, $X.XX for in national vaccines in And contribution restrictions. offset decreased and share benefit and conversions. market The now to $X.XX COVID-XX the continued XX%, distribution can of results, to of continued to US increased were the fiscal slides quarter fourth XXXX. of in fourth COVID-XX Moving provided full per easing the with with
When fiscal included As call February, profit response quarter fourth investments labor to made competitive a the our reminder, service year. On operating continued the previously ensure for labor-related excluding outlined of of segment impact growth through fiscal to we previously delivered of profit US COVID-XX operating the X%. growth expectation vaccine in in and our Pharmaceutical half announced market. the additional second investments, the earnings expenses distribution labor continuity reiterated our
products access to growth by from the increased full driven distribution contribution driven result including growth of revenue, from of and systems growth logistics Prescription prescription increased billion, the adherence $X.X specialty from distribution. segment, services of the to and million, solutions. billion, providers X% vaccine service year, partially Solutions XX%, XX% the $XXX revenues Technology increased services, to as volumes. a growth volume related by Operating profit technology and of operating third-party resulting profit biopharma in $X to increase were and an COVID-XX In For health
year, For operating increase million, profit $XXX was of the XX%. full an
in billion, XX% increase primary due $XXX profit million. of growth X% the Revenues Medical-Surgical to Solutions. to related tests fourth $X.XX contribution -- in to the storage an per care $X.X $X.XX business. earnings COVID-XX operating the segment the increased diluted diluted In government. vaccines share ancillary Medical-Surgical profit distribution per quarter, were and kitting, for Next, Solutions Operating COVID-XX share US per of supplies contribution earnings of for share of related and included to the
of charge impacts and due increased the on the items, products, to in related year care business. primary the PPE-related these Excluding XX% inventory COVID-XX operating growth profit prior
products, When increased $X.X profit the COVID-XX-related operating and prior full charges of year, excluding XX%. the to XX% and impacts profit on billion. related year For PPE items inventory increased operating
quarter, services the demand and of has and fluctuated variability. fourth demonstrate the continued the to During over pandemic. the COVID-XX-related The direction COVID-XX the course products of disease for
generally However, COVID-XX the direction levels. volume case the of followed
and few Forecasting COVID-XX a months a remains distribution than more at testing difficult. vaccine demand time
of cases track Omicron continue January experienced and a to in the XXXX, We new we will pattern due in variants. COVID XX% to volume decrease the experienced in and related quarter a tests fiscal be volume demand guidance XX% quarter to spike in XXXX fiscal contribution the related fluctuating variant. follow materially we from than fiscal volumes, fourth to COVID-XX lower test fiscal In lower We our related in February to We fourth anticipate to that average that approximately of January, average. declines corresponding volume third third the contribution per The In COVID-XX and March, in to a compared February increase and XXXX, month-over-month declined XXXX. earnings demand share vaccine decline COVID-XX compared and In COVID COVID quarter. to tests a in quarter. with we led March, earnings similar a cases March will volumes. test in anticipate test the fiscal experienced COVID and the increased pace
the customers address international Austrian year-over-year volumes distribution were basis. XXXX. quarter operating and sell by to our increase our business due of an Let results. reported a FX new me billion FX were in adjusted million. revenues under business. sales to closed depreciation increased amortization in fiscal driven billion, Revenues X% million pharmaceutical Operating $X.X Canadian of $XXX offset of of $X.X partially the to profit our X%, reduction agreements divestiture recovery On businesses, on in business, the fourth the basis, volume profit an on On by $XXX adjusted an distribution the during to which basis, assets and European to increased and XX% increased
on operating Corporate basis an full were quarter, increase in of the our FX-adjusted profit XX%. the increased And year, XX%. For expenses segment, an million in $XXX
compared million, fourth mark-to-market net million resulted compares compared to $XXX flat our gains to year. of Corporate McKesson approximately investments approximately $XX within in year $XX investments quarter, full to share. had McKesson the million for the million the the XXXX. Ventures portfolio year, valuations $X.XX $X were XXXX. of of XXXX, fiscal our to per In or were full of portfolio in of to fiscal or losses $X.XX million related equity our gains within expenses $XXX for approximately quarter approximately net During prior equity gains McKesson related which fiscal Ventures net This our net of
by health companies, with McKesson services growth-stage finally, million year $XXX Ventures our difficult fourth the results impacts portfolio influenced reach and of litigation venture been on The financials our may and portfolio as consolidated not losses which we've investment. to guidance. each ventures can has XXXX. vary equity in and gains and full As magnitude It's portfolio result, $XX the incurred individual and a estimates occur. losses, we insights companies in of and predict reminder, for will we digital our quarter-to-quarter. million And practice expenses portfolio in to may to fiscal And, when McKesson's a and holds investments therefore, obtained. gains can include in for of quarter, are investments the the several the that related pleased opioid incurred investment our And continue performance or a timing be result the
now Turning capital slide on to and deployment cash our XX. position
capital billion in flow, the free year, fiscal cash million $XXX we included which For expenditures. generated $X.X of
this nearly through fiscal reducing in deployment repurchases XX%. $XX XXXX cash amount, been billion through we share Since our the billion and fourth drive returned including capital of value Of repurchases, to through fiscal over $X.X average $X outstanding billion continue to shares quarter. XXXX, share our has fiscal for returned returned to shareholders billion we total by focus We $X.X share shareholders. repurchases, dividends. In
$XXX we the Additionally, million paid dividends year. approximately fiscal paid, repurchases share full When we flow of for to combining dividends returned free of in cash XX% shareholders with XXXX.
our with while flow all strategic pursue capital continues a with and and sheet balance return flexibility disciplined strong strategies, financial the capital to to strong capital Our us in provide allocation, maintaining shareholders, structure. to generation, opportunities cash along invest
supplemental and the our instead assumptions our offerings XXXX fiscal presentation. fiscal further fundamentals the We continue our additional A XX of that biopharma discussing for strong in than building now American of our product XXXX you guidance. with solid of assumption, results. Let our remain XXXX. on enhance consolidated ecosystem. me outlining confident XX can North upon with Rather momentum, services health care entered list oncology We'll services in fiscal I'll and full each a roles in beginning in key through the spend few innovative invest leading items, fiscal walk found slides the to outlook be through businesses. slide distribution details XXXX We minutes
growth Our profit guidance X% and flat assumes fiscal compared to to X% revenue XXXX. fiscal XXXX reported decline to XX% operating
and $XXX range million. distribution $XXX US year of settlement states a which full Excluding tax we fiscal COVID-XX were claims COVID-XX million Ventures XX%, in fourth vaccine and finalized of to programs, fiscal the municipalities. increase quarter X% and expenses gains the tests and impacts We centralized with McKesson XX% to of to XXXX, In operating XXXX, of related recorded equity opioid-related broad anticipate the corporate anticipate in investments, kitting government's X%. approximately we associated net the rate profit of to the year to
While settlement, open. we've cases a are remain there reached that broad
to expenses, from XXXX settlement. we relates opioid reduction anticipate fiscal it As substantial we in communicated a that previously litigation the resulting year
is and vary a number pace our fiscal consolidated we'll of update $X.XX is following to outlook COVID-XX-related For to fiscal less than remaining XXXX it can based distribution; $X.XX the storage $X.XX legal kitting to of proceedings, $X.XX guidance, of which and ancillary our and the accordingly. you vaccine related factors, US distribution XXXX, $XX on supplies; items: including trials includes $XX.XX to contribution and up continue to suits, share the per diluted our $X.XX to million, attributable tests. to nongovernmental related to current $X.XX of $XX.XX, Wrapping and related government's earnings to COVID-XX $X.XX approximation
net with the these approximately gains XXXX both the associated growth capital December XX% the event McKesson in over Excluding guidance biopharma underlying and year-over-year the results services Ventures XXXX, growth of disciplined deployment investments related estimated our represents we of targets impacts businesses, continued in and items our oncology prior at long-term XXXX to solid and COVID-XX financial from to is year. Investor fiscal related FY X% provided the indicates our This organic ecosystem. fiscal XXXX and growth and our guidance fiscal $X.XX with consistent expansion Day that equity
the Moving operating In revenue year-over-year. to and approximately reported reflects durability to profit increase and the efficiency ecosystem. X% oncology and to outlook distribution core flat X% US segments. We to our XX% be to platform our segment, of now Pharmaceutical decline of our continued expansion anticipate our
XXXX, higher adherence segment, Solutions and number XX%. generate Day Prescription Solutions event. expand When growth to profit US in of is for government revenue includes This related quarter services vaccine to at decrease by transaction the biopharma to with $X.XX Our for XX% Medical-Surgical XX%. is US year XX% to anticipate and partnerships distribution the across manufacturers, of profit COVID-XX to outlook outlook Investor to for $X.XX with the we and full impact XXXX. US profit US the we recent operating under we and distribution the In to volume current timing growth brands schedule in distribution In segment government. first reported growth X% growth, fiscal of we the our increase anticipate fiscal our and which to to growth and government, consistent Pharmaceutical approximately operating aligned anticipate XX% organic to $X.XX XX% long-term platforms. provided the momentum contract vaccine as of to we the of the X% volume revenues access the target Technology reflects provided X% XX% operating decrease and CDC the COVID-XX excluding compares solutions the This which segment,
this beginning than the outlook And approximately supplies $X.XX in related distribution ancillary Our includes compares of US government. storage and less XXXX. for to to fiscal $X.XX
our are government scheduled in XXXX. July As reminder, end a of to the contracts with US
$X.XX We in also to approximately fiscal anticipate XXXX. tests to related COVID-XX $X.XX
profit in its result growth market, a XX%, well-positioned these of to anticipate primarily as and of remains depth to laboratory government throughout impact from the of business solutions and The breadth operating the site leverage alternate increase Medical-Surgical services growth we including sector. the X% to the COVID-XX-related Excluding items, the primary business. care
to date as efforts. and in revenues decrease including transactions XX% position in that strong we our expect by XX% to reported in strategic by to close anticipate XX% to organic care pharmaceutical profit anticipate during businesses we sourcing includes health contribution closed the the business, to a operating year-over-year leader the We of decline Finally, segment, decline and fiscal and distribution. XXXX. In This operating International growth we distribution continued we've to loss Canada, from profit XX%. have
Let cash with deployment. and me conclude our flow a fiscal outlook capital on XXXX few comments
growing of As by I growth, communicated complemented and at a Investor our share repurchases prioritizes through Day, a our capital yet shareholders capital strategic return to strategy dividend. allocation modest
remains sustainable Our $X.X creation flexibility flow us expenses. property a credit positions fiscal flexibility. billion, long-term capitalized value and rating free anticipate for we for financial is underpins investment-grade This continuation net our and $X.X to approximately billion XXXX, our shareholders. priority of software the cash of acquisitions In of which
impacted from could cash a European divestiture vary As include timing capital reminder, of planned flows which timing, and quarter-to-quarter, by resulting our activity. metrics working the
capital intend As with deployment. related dilution the at Day, we to to our discussed divestitures European offset Investor
the billion incorporates approximately offsetting fiscal significant slide indicated impact the on of shares. to share $X.X assumption repurchase divestitures. year-over-year plans associated European XX, buyback of with portion our A XXXX outlook of As is
diluted investments a fiscal including strong strong the business cash capital our activity, to through us and XXXX XXXX of flow flow. closing, for progress fiscal through deploy approximately $XXX shareholders our share across This our The and supports McKesson. to commitment dividends. streamline In for in capital business, strategic cash year returning we're with flexibility of provides another making to priorities, repurchases the be organic range outstanding to to our and shares inorganic in we the As result repurchase estimate $XXX share million. was weighted million the average
to our services from accelerating great oncology diversified to services progress on transformative make biopharma a care distribution-focused continue and a company, our leading We journey, company and health ecosystem. expanding
delivering and for working, are strategies and partners, patients Our our shareholders. we're customers, our
positioned We opportunities and the capture markets of oncology growing vast are the services. biopharma in well to
creation. position shareholder flows and strong deliver value a our framework financial outlook and us We financial sustainable have execution profit cash growth, and to
teams, you. And We in have in and for with great our services over and that, it products operator the confidence our to strategy. our turn Q&A. Thank I'll in
