From Investing.com: 2024-08-07 05:27:16

Henry Schein, Inc. (HSIC) has reported strong financial results for Q2 2024, with stable end markets and increasing gross margins. A slower-than-expected recovery from a cyber incident led to updated full-year guidance, focusing on acquisitions and efficiencies. A new restructuring plan aims for $75-$100 million in annual savings, with increased investment in dental distribution and specialties. The medical group faces challenges but is regaining ground. Henry Schein remains optimistic about future prospects, expecting sales growth of 4%-6% and non-GAAP EPS of $4.70-$4.82. The company is pursuing a strategic plan for 2025-2027 to expand specialty procedures and alternate care settings. Challenges from a cyber incident and competition in the medical group are being addressed, with a focus on growth in dental specialties and technology services. Henry Schein is confident in its market position and long-term goals despite current hurdles, aiming to optimize operations and enhance shareholder value. The company’s management strategies and market position present a multifaceted picture, with aggressive share buybacks showing confidence in intrinsic value. With a market cap of $8.84 billion and an adjusted P/E ratio of 20.49, Henry Schein’s financial health is closely monitored by investors and analysts. The company’s revenue is at $12.45 billion, with a focus on profitability in specialty businesses and strong growth in technology and value-added services. Henry Schein’s resilience in navigating challenges and strategic steps towards future growth emphasize its adaptability in the healthcare landscape.



Read more at Investing.com: Henry Schein updates 2024 guidance amid recovery efforts By Investing.com