Henry Schein (HSIC) came out with quarterly earnings of $1.10 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $1.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this health care products maker would post earnings of $0.70 per share when it actually produced earnings of $0.66, delivering a surprise of -5.71%.Over the last four quarte ...

Financial Performance - First-quarter 2024 sales increased by 3.7% to $3.2 billion compared to the first quarter of 2023[6] - GAAP diluted EPS for the quarter was $0.72, down from $0.91 in the first quarter of 2023, while non-GAAP diluted EPS was $1.10, down from $1.21[10] - Net income attributable to Henry Schein, Inc. for Q1 2024 was $93 million, down 23.2% from $121 million in Q1 2023[38] - Diluted EPS attributable to Henry Schein, Inc. decreased by 20.9% to $0.72 in Q1 2024 from $0.91 in Q1 2023[38] - Non-GAAP net income attributable to Henry Schein, Inc. was $143 million in Q1 2024, down 11.3% from $161 million in Q1 2023[38] - Total net income (GAAP) for Q1 2024 was $98 million, compared to $128 million in Q1 2023, reflecting a decline of 23.4%[44] Sales and Revenue - The company tightened its total sales growth guidance for 2024 to a range of 8% to 10%, reflecting recovery from last year's cyber incident[5] - Total sales for Q1 2024 were $3,172 million, representing a growth of 3.7% compared to $3,060 million in Q1 2023[34] - Global Medical sales grew by 7.3%, while Global Dental sales saw a decrease of 2.9% internally[7] - Dental merchandise sales decreased by 3.7% to $1,914 million in Q1 2024 from $1,898 million in Q1 2023[34] Cash Flow and Assets - Cash and cash equivalents at the end of Q1 2024 were $159 million, down from $171 million at the end of Q4 2023[31] - The company reported a cash flow from operating activities of $197 million in Q1 2024, significantly up from $27 million in Q1 2023[31] - Total assets decreased from $10,573 million to $10,145 million, a decline of approximately 4.1%[29] - Total current liabilities decreased from $2,683 million to $2,334 million, a reduction of approximately 13%[29] Costs and Expenses - Adjusted EBITDA for the quarter was $255 million, consistent with the first quarter of 2023[10] - Adjusted EBITDA for Q1 2024 was $255 million, slightly down from $256 million in Q1 2023, indicating a decrease of 0.4%[44] - Interest expense increased significantly to $30 million in Q1 2024 from $14 million in Q1 2023, marking a rise of 114.3%[44] - Depreciation and amortization expenses rose to $73 million in Q1 2024, up from $52 million in Q1 2023, an increase of 40.4%[44] - Income taxes for Q1 2024 were $32 million, down from $39 million in Q1 2023, a decrease of 17.9%[44] Strategic Initiatives - The company continues to focus on its BOLD+1 Strategic Plan and is optimistic about contributions from recent acquisitions[3] - The company repurchased approximately 1 million shares at an average price of $75.10 per share, totaling around $75 million[6] - Henry Schein has approximately $190 million authorized for future stock repurchases[8] Restructuring and Incident Impact - The company incurred restructuring costs of $10 million in Q1 2024, down from $30 million in Q1 2023[39] - Cyber incident-related professional fees amounted to $5 million in Q1 2024, with no such costs reported in Q1 2023[44] - Internal sales decreased by 1.8%, impacted by a 300 to 400 basis points decline due to the residual effects of last year's cyber incident[6] - Equity in earnings of affiliates, net of tax, showed a slight improvement, decreasing to a loss of $3 million in Q1 2024 from a loss of $4 million in Q1 2023[44]

Wall Street analysts forecast that Henry Schein (HSIC) will report quarterly earnings of $0.99 per share in its upcoming release, pointing to a year-over-year decline of 18.2%. It is anticipated that revenues will amount to $3.23 billion, exhibiting an increase of 5.5% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior ...

Henry Schein, Inc. (HSIC) is expected to release first-quarter 2024 results on May 7 before the opening bell.The company posted adjusted earnings per share (EPS) of 66 cents in the last reported quarter, which missed the Zacks Consensus Estimate by 5.71%. In the trailing four quarters, Henry Schein’s earnings matched estimates once, surpassed once and missed in two quarters. The average negative surprise is 0.83%.Let’s see how things have shaped up prior to this announcement.Factors at PlayHealth Care Distr ...

Henry Schein (HSIC) is well-positioned to gain from its extensive global foothold and diverse channel mix. However, unfavorable currency movement and global economic uncertainties continue to affect the business. The stock carries a Zacks Rank #3 (Hold) currently.Henry Schein’s business boasts a broad global footprint with 61 distribution centers. Apart from North America, the company has a presence in Australia and New Zealand as well as in emerging nations like China, Brazil, Israel, the Czech Republic an ...

Henry Schein, Inc. (HSIC) is poised to experience growth in the coming quarters, backed by its encouraging strategy to expand digital dentistry globally. Niche acquisitions and partnerships have consistently fueled the company's revenue growth. Further, Henry Schein is upbeat about its dental technology joint venture (JV), Henry Schein One, which has been progressing well despite a challenging business environment.Meanwhile, the impact of the cybersecurity incident on HSIC’s operations remains concerning. M ...

Henry Schein, Inc. (HSIC) has recently completed the acquisition of orthopedic player TriMed for an undisclosed financial term. Integration of TriMed’s business will help the company to provide a wider range of surgical solutions to the existing Integrated Delivery Networks and Ambulatory Surgery Center customers. This will strengthen HSIC’s long-standing relationship with them.Headquartered in Santa Clarita, CA, TriMed is a global developer of solutions for the orthopedic treatment of lower extremities (fo ...

Henry Schein to Maximize Viome's Reach Among Dental and Medical Practices With Patient-Centric and Preventive Models of Care BELLEVUE, Wash., April 2, 2024 /PRNewswire/ -- Viome, a leading innovator of health technology and personalized health solutions, is partnering with Henry Schein to provide better access to Viome's Oral Health Pro™ With CancerDetect™.* Viome's laboratory-developed test* helps detect early biomarkers of oral and throat cancers, enhancing practitioners' ability to effectively harness th ...

Henry Schein has been recognized since 2012 and is one of only two honorees in the Healthcare Products industry. (Graphic: Business Wire)Henry Schein has been recognized since 2012 and is one of only two honorees in the Healthcare Products industry. (Graphic: Business Wire)MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, has received the 2024 World’s Most Ethical Companies® recognition ...

Financial Performance & Impact Factors - Worldwide sales decreased by 10.5% in Q4 2023, with total sales of $3.017 billion compared to $3.371 billion in Q4 2022 [10, 11, 14, 35, 51] - The cybersecurity incident led to an estimated reduction in sales of $350 million to $400 million, representing approximately 10% to 12% impact [10, 11, 15] - Non-GAAP diluted EPS was $0.66 in Q4 2023, a decrease of 51.1% compared to $1.35 in Q4 2022 [10, 11, 33, 51] - The cybersecurity incident impacted EPS by approximately $0.70-$0.75 per diluted share, and acquisition-related expenses & adjustments added $0.05 [10, 24] - Operating income decreased by 46.7% from $72 million to $39 million [11, 61] Segment Performance - Global Dental sales experienced a decrease of 10.2% [10, 14, 69] - Global Medical sales decreased by 14.9% [10, 14, 55] - Global Technology/VAS sales increased by 13.4% [10, 14, 29, 38, 41] - Dental Specialties sales grew by 17.2% [10, 41] Strategic Initiatives & Outlook - The company introduced 2024 Non-GAAP Diluted EPS guidance of $5.00 to $5.16, reflecting growth of 11% to 15% compared with 2023 [9, 45] - Adjusted EBITDA is expected to increase by more than 15% vs 2023 [9, 45]