Henry Schein Q4 Profit Misses Estimates, Sees Higher FY24 Results; Stock Down In Pre-market

(RTTNews) - Health care solutions provider Henry Schein, Inc. (HSIC), while announcing weak fourth-quarter profit, below market estimates, on Tuesday issued fiscal 2024 outlook, expecting higher profit and sales.

In pre-market activity on the Nasdaq, Henry Schein shares were losing around 3.4 percent to trade at $77.84.

For fiscal 2024, the company projects adjusted earnings per share of $5.00 to $5.16, reflecting growth of 11 percent to 15 percent from last year's adjusted earnings per share were $4.50.

Analysts on average expect the company to report earnings of $5.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Full-year 2024 Adjusted EBITDA growth is expected to be more than 15 percent, and sales growth is expected to be around 8 percent to 12 percent over 2023.

In its fourth quarter, Henry Schein's earnings decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $18 million, or $0.13 per share. This compares with $47 million, or $0.34 per share, in last year's fourth quarter.

Adjusted earnings were $86 million or $0.66 per share for the period. Analysts expected the company to earn $0.70 per share.

The company's revenue for the quarter fell 10.4 percent to $3.02 billion from $3.37 billion last year.

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