- Henry Schein Inc (NASDAQ:HSIC) posts Q4 FY22 sales of $3.37 billion, beating the consensus of $3.34 billion.
- The 1.2% increase included a 1.8% decrease in local currencies excluding acquisitions, 1.1% growth from acquisitions, and a 3.0% decrease related to foreign currency exchange, while the extra week of sales contributed 4.9% to sales growth.
- Sales of PPE products and COVID-19 test kits in the fourth quarter were $254 million, which is $194 million lower than the prior-year period. Excluding sales of PPE products and COVID-19 test kits, fourth-quarter internal sales growth in local currencies was 5.0%.
- William Blair writes that management’s 2023 EPS guidance of $5.25 to $5.42 is above the consensus but is not directly comparable since management is now excluding the amortization of intangibles.
- Sales growth is expected to be 1%-3% despite 30% to 35% declines in PPE and COVID sales.
- The analyst says the guidance is inline given the number of macro headwinds.
- Price Action: HSIC stock is down 7.55% at $81.94 on the last check Thursday.
RH Sees Q2 2022 Net Revenue Down 1%-3%
Despite our record financial performance in the first quarter, we have experienced softening demand trends which began at the time of the Russian invasion of Ukraine and have further slowed during the market disruptionDespite our record financial performance in the first quarter, we have experienced softening demand trends which began at the time of the Russian invasion of Ukraine and have furt
