Henry Schein's Sales Outlook

Henry Schein recently announced a positive sales outlook for the current year, despite facing challenges from a cyberattack in the previous year which impacted their fourth-quarter results.

Financial Overview

The healthcare products provider for dental and medical offices reported a profit of $18 million, representing a decline from $47 million in the same quarter the year before. Adjusted earnings stood at 66 cents per share, falling short of analysts' expectations of 70 cents per share. Additionally, sales dropped over 10% to $3.02 billion, missing the anticipated $3.04 billion.

Cyberattack Impact

Henry Schein attributed the decrease in both sales and earnings to a cyberattack disclosed in October. The attack led to a reduction of $350 million to $400 million in quarterly sales, with per-share earnings taking a hit of 70 to 75 cents.

Future Projections

Looking ahead to 2024, the Melville, N.Y.-based company aims for adjusted earnings ranging from $5 to $5.16 per share, slightly below analysts' estimates of $5.10 per share. Despite a 15-cent-per-share impact expected from the cyberattack in the first quarter, the company anticipates sales growth of 8% to 12% compared to 2023. Analysts forecast 2024 sales of approximately $13 billion, reflecting a 5% annual increase.