Henry Schein Q3 earnings top estimates, full-year guidance narrowed

NEW YORK - Henry Schein Inc. (NASDAQ:HSIC ) reported third-quarter earnings that beat analyst expectations on Tuesday, while narrowing its full-year outlook.

Henry Schein's stock was flat in premarket trading following the earnings release.

The healthcare products distributor posted adjusted earnings of $1.22 per share for the quarter, surpassing the consensus estimate of $1.17. Revenue came in at $3.17 billion, slightly below expectations of $3.24 billion but up 0.4% year-over-year.

"Our businesses performed well during the third quarter, driven by the continued successful implementation of our BOLD+1 Strategic Plan," said Stanley M. Bergman, Chairman and CEO.

The company narrowed its full-year 2024 adjusted EPS guidance to $4.74-$4.82, compared to its previous range of $4.70-$4.82. Henry Schein now expects total sales growth of 4-5% for the year, down from its prior outlook of 4-6% growth.

Global dental sales declined 1.6% in Q3 to $1.9 billion, while medical sales rose 2.9% to $1.1 billion. Technology and value-added services revenue increased 5.1% to $221 million.

The company said it repurchased approximately 2 million shares during the quarter at an average price of $69.09.

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Source: Investing.com