Henry Schein Sees FY21 EPS Below Consensus, But Q2 Earnings Beat Expectations - Henry Schein (NASDAQ:HSIC)

Henry Schein Inc HSIC posts Q2 net sales of $2.97 billion, beating the consensus of $2.89 billion, up 76.2% Y/Y when a significant number of dental and medical practices suspended activity due to the COVID-19 pandemic.
Compared with the pre-pandemic Q2 of 2019, sales were up 21.2% and included 15.2% internal growth in local currencies, 4.2% growth from acquisitions, and 1.8% growth related to foreign currency exchange.
Global Dental sales doubled to $1.9 billion, and Medical sales of $904.8 million increased 46.5%.
The gross margin expanded from 27% to 30%, and the operating income was $210.3 million, a turnaround from a loss of $(7.4) million posted a year ago.
Adjusted EPS of $1.11 beat estimate of $0.97.
FY21 Guidance: Henry Schein expects an adjusted EPS of over $3.85, up from previous guidance of $3.70+, but lower than the consensus of $4.14.
Price Action: HSIC shares are down 1.99% at $79.61 during the premarket session on the last check Tuesday.