Henry Schein
(Nasdaq: HSIC)
today announced first-quarter results that beat the earnings consensus on Wall Street but missed sales estimates.
The Melville, N.Y.-based dental device maker reported profits of $93 million, or 72¢ per share, on sales of $3.17 billion. Profits were down slightly from Q1 2023 when it reported bottom-line results of $121 million. Sales were up 3.66%.
Adjusted to exclude one-time items, earnings per share were $1.10, 9¢ ahead of The Street, where analysts were looking for sales of $3.21 billion.
“Our first-quarter financial results reflect solid earnings driven by gross margin expansion and a strong recovery from last quarter’s cyber incident,” CEO Stanley Bergman said in a news release. “We continue to make good progress on executing our BOLD+1 Strategic Plan and are pleased with the contribution from our recent acquisitions.”
For fiscal 2024, Henry Schein anticipates non-GAAP diluted EPS to be $5.00 to $5.16, unchanged from prior guidance, to reflect growth of 11% to 15% compared with 2023 non-GAAP diluted EPS of $4.50.
Shares in HSIC were up 2.85% in morning trading to $70.48 apiece.
