Henry Schein Q2 Earnings Surpass Wall Street View On Strong Demand For Dental Products, Reaffirms Annual Forecast
Portfolio Pulse from Vandana Singh
Henry Schein Inc (NASDAQ:HSIC) reported Q2 FY23 sales of $3.10 billion, slightly below the consensus of $3.11 billion, but up 2.3% Y/Y. Sales of PPE products and COVID-19 test kits were $163 million, a decrease of $96 million versus the prior-year period. Global Dental sales were $2.0 billion, up 5.6% Y/Y, while Global Medical sales were $1.0 billion, down 4.6% Y/Y. The company reaffirmed its FY23 adjusted EPS outlook of $5.18-$5.35, compared to the consensus of $5.27. HSIC stock is down 3.19% at $75.60.
August 07, 2023 | 2:03 pm
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NEGATIVE IMPACT
Henry Schein's Q2 FY23 sales slightly missed consensus but were up 2.3% Y/Y. The company reaffirmed its FY23 adjusted EPS outlook. However, the stock is down 3.19%.
Despite the slight miss in Q2 sales, Henry Schein's reaffirmation of its FY23 EPS outlook indicates confidence in its financial performance. However, the market reacted negatively, with the stock price down 3.19%, likely due to the sales miss and the decrease in sales of PPE products and COVID-19 test kits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100