Henry Schein Trims FY23 Adj. EPS Outlook As Q1 Results Miss Estimates

While reporting financial results for the first quarter on Tuesday, health care company Henry Schein, Inc. (HSIC) trimmed its adjusted earnings guidance for the full year 2023, reflecting an estimated $0.05 to $0.10 first year dilution from the Biotech Dental acquisition.

For fiscal 2023, the company now projects earnings in a range of $5.18 to $5.35 per share on net sales growth of 1 to 3 percent.

Previously, the company expected earnings in a range of $5.25 to $5.42 per share on net sales growth of 1 to 3 percent.

On average, 14 analysts polled by Thomson Reuters expect the company to report earnings of $5.33 per share on net sales growth of 1.4 percent to $12.83 billion for the year. Analysts’ estimates typically exclude special items.

For the first quarter, the company reported net income attributable to the company of $121 million or $0.91 per share, sharply down from $181 million or $1.30 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.21 per share, compared to $1.44 per share in the year-ago quarter.

Total net sales declined 3.8 percent to $3.06 billion from $3.18 billion in the same quarter last year. Internal sales increased 6.3 percent in local currencies, excluding sales of personal protective equipment (PPE) products and COVID-19 test kits.

The Street was looking for earnings of $1.23 per share on net sales of $3.09 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Source: Read Full Article