LONDON, UK / ACCESSWIRE / April 02, 2018 / Active-Investors.com has just released a free earnings report on Henry Schein, Inc. (NASDAQ: HSIC). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=HSIC. Henry Schein reported its fourth quarter and fiscal 2017 operating and financial results on February 20, 2018. The health care products maker surpassed revenue estimates and provided guidance for fiscal 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
Henry Schein's net sales for the quarter ended December 30, 2017, were $3.32 billion, reflecting an increase of 6.3% compared Q4 2016 net sales of $3.12 billion. The Company's reported quarter sales consisted of internal sales growth in local currencies of 5.1%, acquisition growth of 4.0%, an increase related to foreign currency exchange of 2.4%, and a negative impact from the extra week of 5.2%. Henry Schein's reported numbers beat analysts' estimates of $3.31 billion.
Net loss attributable to Henry Schein for Q4 2017 was $8.5 million, or $0.06 per diluted share, on a GAAP basis compared to net income of $139.22 million, or $0.86 per diluted share, in Q4 2016.
On a non-GAAP basis, net income attributable to Henry Schein was $152.1 million, or $0.97 per diluted share, for Q4 2017, representing growth of 0.5% and 3.2%, respectively, versus the same period last year. The Company's reported quarter non-GAAP net income excluded a one-time charge of $143.0 million, or $0.92 per diluted share, for taxes associated with US tax reform legislation, and a loss of $17.6 million pretax, or $0.11 per diluted share, associated with Henry Schein's divestiture of its equity ownership in E4D Technologies. Henry Schein's earnings met Wall Street's estimates of $0.97 per share.
For the full year 2017, Henry Schein's net sales of $12.46 billion increased 7.7% compared to net sales of $11.57 billion for FY16. This consisted of internal sales growth in local currencies of 5.1%; acquisition growth of 3.6%; an increase related to foreign currency exchange of 0.5%; and a negative impact from the extra week of 1.5%.
Net income attributable to Henry Schein was $406.3 million, or $2.57 per diluted share, for FY17 compared to net income of $506.78 million, or $3.10 per share, FY16. On a non-GAAP basis, net income attributable to Henry Schein was $570.1 million, or $3.60 per diluted share, for FY17 reflecting an increase of 5.3% and 8.8%, respectively, on a y-o-y basis.
Henry Schein's Segment Results
During Q4 2017, Dental sales were $1.7 billion, increasing 8.2% and included internal growth in local currencies of 4.3%; acquisition growth of 6.0%; an increase related to foreign currency exchange of 3.0%; and a negative impact from the extra week of 5.1%. In North America, the segment delivered dental consumable merchandise internal sales growth 1.9%, which was negatively impacted by approximately 130 basis points due to the loss of a large DSO contract in January 2017. Growth excluding that contract has accelerated in the past three quarters, reaching 3.2% in Q4 2017. North America dental equipment internal sales growth in local currencies of 18.1% was at a multiyear high.
For Q4 2017, the segment's international dental consumable merchandise internal sales declined by 2.6% due to lower sales in certain European countries. International dental equipment internal sales increased by 7.7% on a y-o-y basis, the highest quarterly growth in more than two years.
For Q4 2017, the Animal Health sales grew 6.2% to $889.8 million and included internal growth in local currencies of 4.5%; acquisition growth of 3.7%; an increase related to foreign currency exchange of 3.2%; and a negative impact from the extra week of 5.2%.
Henry Schein's Medical sales were $636.9 million, increasing 2.6% in Q4 2017 and included internal growth in local currencies of 8.3%; acquisition growth of 0.1%; an increase related to foreign currency exchange of 0.3%; and a negative impact from the extra week of 6.1%.
During Q4 2017, the Technology and Value-Added Services sales were $114.6 million, increasing 2.1% and including internal growth in local currencies of 3.2%; acquisition growth of 0.6%; an increase related to foreign currency exchange of 1.1%; and a negative impact from the extra week of 2.8%.
Stock Repurchase Plan
During Q4 2017, Henry Schein spent approximately $225 million to repurchase approximately 3.2 million shares of its common stock. At the close of the reported quarter, Henry Schein had approximately $200 million authorized for future repurchases of its common stock.
Outlook
For full year 2018, Henry Schein is forecasting earnings in the range of $4.03 to $4.14 per share, up from previous guidance of $3.85 to $3.96. This new guidance reflects growth of 57% to 61% compared with FY 2017 GAAP earnings of $2.57 per share and growth of 12% to 15% compared with FY 2017 non-GAAP earnings of $3.60 per diluted share.
Stock Performance Snapshot
March 29, 2018 - At Thursday's closing bell, Henry Schein's stock rose 1.42%, ending the trading session at $67.21.
Volume traded for the day: 1.34 million shares.
Stock performance in the last month - up 1.54%
After last Thursday's close, Henry Schein's market cap was at $10.42 billion.
Price to Earnings (P/E) ratio was at 19.34.
The stock is part of the Services sector, categorized under the Medical Equipment Wholesale industry. This sector was up 1.5% at the end of the session.
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