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Henry Schein books 7.4% YOY increase in Q2 profit

Henry Schein Inc. said its non-GAAP net income for the second quarter came to $125.7 million, a gain of 7.4% from $117.0 million in the year-earlier period.

EPS climbed 10.5% year over year to 84 cents from 76 cents.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter is 83 cents.

The Melville, N.Y.-based healthcare distributor's net sales rose 5.7% year over year to $2.45 billion from $2.32 billion.

On a GAAP basis, net income grew 5.5% year over year to $116.8 million, or 78 cents per share, from $110.6 million, or 72 cents per share.

For full year 2019, the company said it forecasts non-GAAP EPS in the range of $3.38 to $3.50, with GAAP EPS per share expected at $3.31 to $3.43.

The S&P Global Market Intelligence consensus normalized EPS estimate for 2019 is $3.45.

In February, Henry Schein completed the spinoff of its animal health business into a stand-alone company called Covetrus and is now classified as a discontinued operation by the company.