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Henry Schein Cuts Guidance Following Cybersecurity Incident | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware


Published: Nov. 13, 2023 at 6:34 a.m. ET

By Dean Seal

Henry Schein has lowered its adjusted earnings guidance and said it now expects sales to decline this year in light of a mid-October cybersecurity incident that disrupted operations.

The provider of healthcare products for dental and medical offices now expects adjusted earnings of $4.43 to $4.71 a share, down from previous guidance…

By Dean Seal

Henry Schein has lowered its adjusted earnings guidance and said it now expects sales to decline this year in light of a mid-October cybersecurity incident that disrupted operations.

The provider of healthcare products for dental and medical offices now expects adjusted earnings of $4.43 to $4.71 a share, down from previous guidance for $5.18 to $5.35 a share.

The revision reflects softening macroeconomic conditions along with a hit of 55 cents to 75 cents per share related to business interruption from a recent cybersecurity incident.

Sales for the year are now expected to decline 1% to 3% from the year prior rather than grow 1% to 3%, as previously anticipated.

Henry Schein disclosed the cybersecurity incident in an Oct. 16 Securities and Exchange Commission filing, two days after it was discovered. The incident primarily affected its dental and medical distribution businesses and has since been contained, with most business-critical systems restored.

Write to Dean Seal at [email protected]

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