Henry Schein Boosts FY24 Adj. EPS Outlook As Q3 Adj. EPS Tops Estimates, But Net Sales Miss

(RTTNews) - While reporting financial results for the third quarter on Tuesday, health care company Henry Schein, Inc. (HSIC) raised its adjusted earnings guidance for the full year 2024, while trimming annual net sales growth outlook.

For fiscal 2024, the company now projects adjusted earnings in a range of $4.74 to $4.82 per share on net sales growth of 4 to 5 percent.

Previously, the company expected adjusted earnings in the range of $4.70 to $4.82 per share on net sales growth of 4 to 6 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.75 per share on net sales growth of 4.6 percent to $12.90 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company reported net income attributable to the company of $99 million or $0.78 per share, down from $137 million or $1.05 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.22 per share, compared to $1.32 per share in the year-ago quarter.

Total net sales for the quarter edged up 0.4 percent to $3.17 billion from $3.16 billion in the same quarter last year. Internal sales decreased 2.6 percent, which includes a 0.4% decrease from lower PPE sales.

The Street was looking for earnings of $1.17 per share on net sales of $3.24 billion for the quarter.

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