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Jun 29, 2024
Henry Schein Q2 2024 Earnings Report
Reported solid results driven by stable end markets and increased gross margin.
Key Takeaways
Henry Schein reported a 1.1% increase in total net sales for the quarter, reaching $3.1 billion. GAAP diluted EPS was $0.80, while non-GAAP diluted EPS was $1.23. The company updated its full-year non-GAAP EPS guidance to $4.70 to $4.82 and announced a new restructuring plan targeting $75 million to $100 million in annual run-rate savings.
Total net sales increased by 1.1% to $3.1 billion.
GAAP diluted EPS was $0.80; non-GAAP diluted EPS was $1.23.
Operating cash flow was $296 million, up from the previous year.
Full-year non-GAAP EPS guidance updated to $4.70 to $4.82.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Henry Schein updated its full-year 2024 financial guidance, expecting total sales growth of approximately 4% to 6% over 2023. Non-GAAP diluted EPS is now expected to be $4.70 to $4.82, and Adjusted EBITDA is expected to grow in the low double-digit percentages versus 2023.
Positive Outlook
- Total sales growth expected to be approximately 4% to 6% over 2023.
- Non-GAAP diluted EPS expected to be $4.70 to $4.82.
- Adjusted EBITDA expected to grow in the low double-digit percentages versus 2023.
- New restructuring plan targeting $75 million to $100 million in annual run-rate savings.
- Share repurchase authorization increased by $500 million.
Challenges Ahead
- Updated guidance reflects a slower recovery from the cyber incident.
- Challenging economic environment in certain markets.
- Previous guidance anticipated a stronger economy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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