BUZZ-Henry Schein rises after Q1 profit beats estimates

Reuters05-07

** Shares of dental and medical products distributor Henry Schein rise 2.9% to $70.54

** Co posts Q1 adj EPS of $1.10 vs Wall Street estimates of $1.01 - LSEG

** Q1 profit benefited from higher gross margins, co says

** There were concerns heading into the earnings that "HSIC's customer loss from their October/November cyber events may be stuck in the 5%-10% range" - brokerage Baird

** "It sounds like customer retention is closer to 96%-97%, which puts some of those concerns of permanent loss to bed" - Baird

** However, co's Q1 rev of $3.17 bln misses analysts' avg estimate of $3.21 bln

** YTD, stock down 6.8%

(Reporting by Puyaan Singh)

((Puyaan.Singh@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment