Henry Schein ( (HSIC) ) has released its Q3 earnings. Here is a breakdown of the information Henry Schein presented to its investors.
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Henry Schein, Inc., a leading solutions provider for dental and medical practitioners, reported its financial performance for the third quarter of 2024, highlighting key metrics that reflect the company’s current market position.
In the third quarter of 2024, Henry Schein posted a GAAP diluted EPS of $0.78 and a non-GAAP diluted EPS of $1.22, with total net sales reaching $3.2 billion, marking a modest increase of 0.4% compared to the previous year. The company’s updated 2024 financial guidance reflects an increase in expected non-GAAP EPS, now projected to be between $4.74 and $4.82.
Key financial highlights include a year-to-date operating cash flow of $644 million, up by $112 million from the previous year, and an adjusted EBITDA for the quarter of $268 million. While the dental merchandise segment saw a decline, the dental equipment and medical segments exhibited growth, especially in international markets. The company also repurchased 2.0 million shares during the quarter, reflecting a commitment to shareholder returns.
Looking forward, Henry Schein’s management remains optimistic, expecting total sales growth for 2024 to be between 4% and 5% over 2023. The company continues to implement its strategic plans, focusing on acquisitions, new product launches, and restructuring initiatives to drive efficiency and market share gains.
The financial community will be closely monitoring Henry Schein’s progress as it aims to meet its updated financial guidance and achieve long-term strategic goals amid ongoing global economic challenges.
