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Henry Schein
🇺🇸 NASDAQ:HSIC
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Sep 28, 2024

Henry Schein Q3 2024 Earnings Report

Henry Schein reported financial results for the third quarter ended September 28, 2024, and increased its full-year non-GAAP EPS guidance.

Key Takeaways

Henry Schein's third-quarter results for 2024 showed a slight increase in total net sales, driven by acquisitions and the successful implementation of their BOLD+1 Strategic Plan. The company's GAAP diluted EPS was $0.78, and non-GAAP diluted EPS was $1.22. They have increased their full-year non-GAAP EPS guidance to $4.74 to $4.82.

Third-quarter GAAP diluted EPS was $0.78, and non-GAAP diluted EPS was $1.22.

Total net sales for the quarter were $3.2 billion, a 0.4% increase compared to Q3 2023.

Operating cash flow for the quarter was $151 million.

The company increased its 2024 full-year non-GAAP EPS guidance to $4.74 to $4.82.

Total Revenue
$3.17B
Previous year: $3.16B
+0.4%
EPS
$1.22
Previous year: $1.32
-7.6%
Adjusted EBITDA
$268M
Gross Profit
$993M
Previous year: $995M
-0.2%
Cash and Equivalents
$126M
Previous year: $166M
-24.1%
Free Cash Flow
$151M
Total Assets
$10.6B
Previous year: $9.81B
+8.1%

Henry Schein

Henry Schein

Henry Schein Revenue by Segment

Henry Schein Revenue by Geographic Location

Forward Guidance

Henry Schein updated its full-year 2024 financial guidance. Total sales growth is now expected to be 4% to 5% over 2023. Non-GAAP diluted EPS is expected to be $4.74 to $4.82. Adjusted EBITDA is expected to grow in the low-double-digit percentages versus 2023.

Positive Outlook

  • 2024 total sales growth is now expected to be 4% to 5% over 2023.
  • 2024 non-GAAP diluted EPS attributable to Henry Schein, Inc. is now expected to be $4.74 to $4.82.
  • Reflects growth of 5% to 7% compared with 2023 non-GAAP diluted EPS of $4.50.
  • 2024 Adjusted EBITDA is expected to grow in the low-double-digit percentages versus 2023 Adjusted EBITDA.
  • Guidance assumes that foreign currency exchange rates remain generally consistent with current levels and that end markets remain consistent with current market conditions.

Challenges Ahead

  • Guidance does not include the impact of potential future acquisitions and share repurchases.
  • Guidance does not include restructuring and integration expenses.
  • Guidance does not include amortization expense of acquired intangible assets.
  • Guidance does not include contingent consideration revaluation adjustments.
  • Guidance does not include certain expenses directly associated with the cyber incident or any related insurance claim recovery.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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