HSIC - Cybersecurity Incident Casts Shadow On Henry Schein's Q4 Performance Analysts Optimistic On Dental Sector | Benzinga
Dental supply company Henry Schein Inc (NASDAQ:HSIC) reported fourth-quarter 2023 sales of $3.02 billion, slightly missing the consensus of $3.04 billion, down 10.5% year-over-year.
This reflects an internal sales decrease of 12%, calculated at constant foreign exchange rates
Total net sales reflect an estimated reduction of $350 million to $400 million, or 10% to 12%, due to the cybersecurity incident.
“Our fourth quarter financial results included strong growth in our Technology and Value-Added Services businesses, and in global sales of implants and biomaterials largely driven by acquisitions, and were negatively impacted by higher-than-usual acquisition-related expenses and adjustments,” Stanley M. Bergman, Chairman of the Board and CEO.
Global Dental sales were $1.8 billion, down 10.9% Y/Y, driven by merchandise sales down 11.3% and equipment down 9.7%. Global Medical sales were $1 billion, down ...