Henry Schein (Nasdaq:HSIC) today posted first-quarter results that beat the overall consensus forecast on Wall Street.
The Mellville, N.Y.-based dental supplier reported profits of $181 million, or $1.30 per share, on sales of $3.2 billion, for the three months ended March 26, for a bottom-line gain of 9% on sales growth of 8.7% compared with Q1 2021.
Adjusted to exclude one-time items, earnings per share were $1.30, 11¢ ahead of The Street, where analysts were looking for sales of $3.13 billion.
“2022 is off to a strong start with record first-quarter financial results as we successfully execute on our new 2022-2024 strategic plan,” CEO Stanley Bergman said in a news release.
“First-quarter growth in our dental business was driven by strong global equipment sales as dentists continued to invest in their practices, and consumable merchandise sales recovered well during the second half of the quarter.”
Henry Schein expects 2022 GAAP diluted EPS to be in the range of $4.75 to $4.91 to reflect 7% to 10% growth compared with 2021 GAAP diluted EPS. The company expects full-year sales growth to be 5% to 8% over 2021.
Shares in HSIC were up 1.33% to $81.52 apiece at market open.