Henry Schein Inc.’s stock
HSIC,
fell 3% early Tuesday, after the provider of dental and medical supplies fourth-quarter earnings came in short of expectations, hurt by higher-than-usual acquisition-related costs and the continued impact of a cyber attack in 2023. The Melville, N.Y.-based company had net income of $18 million, or 13 cents a share, for the quarter, down from $47 million, or 34 cents a share, in the year-earlier period. Adjusted per-share earnings came to 66 cents, below the 70-cent FactSet consensus. Sales fell to $3.017 billion from $3.371 billion a year ago, also below the $3.037 billion FactSet consensus. The profit number includes 5 cents of acquisition costs and 70 cents to 75 cents of a hit from the cybersecurity incident. The company disclosed that on Oct. 14, a portion of its manufacturing and distribution businesses were hit by a cyber attack. “For 2024, while we expect to have some short-term residual impact on merchandise sales from the incident, we believe we will continue to strengthen our leading market position,’ CEO Stanley M. Bergman said in a statement. The company is now expecting 2024 adjusted EPS of $5.00 to $5.16, while FactSet is expecting $5.10. The stock has gained 2.8% in the last 12 months, while the S&P 500 has gained 27%.
