Henry Schein posts mixed bag Q3

Shares in Henry Schein (NSDQ:HSIC) have dipped slightly after the medical device maker beat earnings per share expectations but missed sales consensus on Wall Street with its third quarter earnings.

The Melville, N.Y.-based company posted profits of $121.5 million, or 79¢ per share, on sales of $3.28 billion for the three months ended September 29, seeing profits shrink 12% while sales grew 3.8% compared with the same period during the previous year.

Adjusted to exclude one-time items, earnings per share were $1.03, just ahead of the $1.01 consensus on Wall Street, where analysts were looking for sales of $3.37 billion, which the company missed.

“We are pleased with our third quarter financial results, which demonstrate solid growth in each of our business groups. We believe that the end markets we serve are stable-to-improving and that we have continued to gain market share with our value-added solutions approach to servicing customers. We believe there are exciting opportunities ahead for Henry Schein’s businesses as we execute on our strategic goals,” chair & CEO Stanley Bergman said in a press release.

Henry Schein reaffirmed its 2018 non-GAAP diluted EPS guidance of between $4.06 and $4.24, but said that it could not provide guidance for the fiscal year 2019 “due to the complexities and timing of the planned Animal Health spin-off.”

Shares in Henry Schein have fallen 1.4% today at $83.59 as of 10:42 a.m. EST.

In late August, Henry Schein said that it expects to pay approximately $38.5 million to settle an anti-trust class action suit related to dental supplies.

The post Henry Schein posts mixed bag Q3 appeared first on MassDevice.

from MassDevice https://ift.tt/2D7eIjZ