Henry Schein said global net sales rose 3.7% for the 3 months ended March 30, 2024. The company cited the residual impact of the cyber incident, which led to decreased sales to episodic customers, and lower sales of PPE products and related items as the main factors behind the 1.8% decrease in internally generated local currency sales.

1. 01

   Henry Schein said global net sales rose 3.7% for the 3 months ended March 30, 2024. The company cited the residual impact of the cyber incident, which led to decreased sales to episodic customers, and lower sales of PPE products and related items as the main factors behind the 1.8% decrease in internally generated local currency sales.

2. 02

   Henry Schein said net sales for its technology and value-added services segment rose 13.8% for the 3 months ended March 30, 2024. The company cited an increase in the number of cloud-based practice management software users and growth in revenue cycle management services as the main factors behind the increase in internally generated local currency sales.

3. 03

   The company said the cyber incident in October 2023 primarily affected the operations of its North American and European dental and medical distribution businesses, and that residual effects have continued since then, including decreased sales to episodic customers. It said it maintains cyber insurance with a $5 million retention, which is followed by a $60 million policy.

4. 04

   Henry Schein said net cash provided by operating activities was $197 million for the 3 months ended March 30, 2024 ($27 million in the prior-year period), net cash used in investing activities was $72 million, and net cash used in financing activities was $151 million.

Key figures

Quarter ended March 30, 2024

Revenue

$3.2B

Operating income

$150M

Net income

$93M

EPS

$0.72

Gross profit

$1.0B

Operating cash flow

$197M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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