Henry Schein, Inc., a leading provider of healthcare solutions, announced a lower-than-expected profit for the fourth quarter. Nonetheless, the company projected an increase in sales and profit for the fiscal year of 2024.
Despite this, Henry Schein shares experienced a decrease in value during pre-market activity on the Nasdaq, amounting to around 3.4 percent at a trading price of $77.84.
The company forecasts an adjusted earnings per share range of $5.00 to $5.16 for the fiscal year 2024, signifying a growth of 11 to 15 percent compared to last year's adjusted earnings per share of $4.50.
The average estimation by financial analysts for the company's earnings per share stands at $5.11, as aggregated by Thomson Reuters. This figure typically excludes extraordinary items.
Henry Schein also anticipates the growth of its full-year 2024 Adjusted EBITDA to exceed 15 percent, with a projected sales increase of around 8 to 12 percent compared to 2023.
For the fourth quarter, the company experienced a decrease in earnings compared to the same period last year, falling short of market expectations. Henry Schein reported a net profit of $18 million, or $0.13 per share, a decrease from $47 million, or $0.34 per share, from the fourth quarter of the previous year.
After adjustments, the company reported earnings of $86 million, or $0.66 per share for the period, which fell short of analysts' expectations of $0.70 per share.
Henry Schein's revenue also decreased, falling by 10.4 percent to $3.02 billion from $3.37 billion last year.
