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Home » Henry Schein shares rise on mixed-bag Q1 earnings, raised EPS outlook

Henry Schein shares rise on mixed-bag Q1 earnings, raised EPS outlook

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Henry Schein

Shares in Henry Schein (NSDQ:HSIC) are rising today after the medical device maker posted first quarter 2019 earnings that topped earnings per share expectations but missed sales consensus on Wall Street.

The Melville, N.Y.-based company posted profits of $114.6 million, or 73¢ per share, on sales of $2.36 billion for the three months ended March 31, seeing profits shrink 22.9% while sales grew 3.8% when compared with the same period during the previous year.

Adjusted to exclude one-time items, earnings per share were 80¢, just ahead of the 76¢ consensus on Wall Street. Analysts expected to see the company post sales of $2.39 billion, which it missed by nearly $30 million.

“We are pleased with our performance to date as we execute on our 2018 to 2020 strategic plan. We have completed the first quarter of what we have characterized as a transition year as we continue to separate operations of our former animal health business. Throughout this transition, we believe we gained market share in both of our global dental and medical businesses, and are confident that Henry Schein is well-positioned for operational success over the long-term. We will continue to focus on supporting our customers around the world with the broadest array of products and services, along with innovative technology that expands our value-added solutions offering while pursuing new investment opportunities,” CEO Stanley Bergman said in a press release.

Henry Schein raised its full year 2019 non-GAAP EPS guidance, now expecting to post between $3.38 and $3.50, up from earlier guidance of between $3.38 and $3.46.

Shares in Henry Schein are up approximately 5.2% so far today, at $66.57 as of 10:31 a.m. EDT.

In March, Henry Schein said that it closed its acquisition of survivability and casualty-care medical product maker North American Rescue.

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