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Henry Schein earnings, sales rise despite hurricane impact

Hurricane Harvey nears landfall on Aug. 25, 2017,

Hurricane Harvey nears landfall on Aug. 25, 2017, on the southeastern coast of Texas. Credit: Getty Images / NOAA

Henry Schein Inc., Long Island’s largest public company by revenue, reported Monday that increases in third quarter net sales and net income were blunted by the impact of recent hurricanes in the United States, the Melville company said.

Shares of the provider of supplies to the offices of dentists, doctors and veterinarians tumbled 9.8 percent to close Monday at $70.04, after the quarter’s earnings per share of 87 cents fell 2 cents short of the consensus of analysts surveyed by Bloomberg.

Net sales for the quarter ended Sept. 30 were $3.2 billion, a 10.3 percent increase versus the previous year’s total, the company said in an earnings release before the stock market opened.

Net income was $138 million, an increase of 3.2 percent compared to the 2016 period.

“Third quarter sales growth was negatively impacted by . . . the recent hurricanes in the U.S. as well as a difficult comparable in dental equipment sales,” Stanley M. Bergman, chairman and chief executive, said in a statement.

Henry Schein’s dental unit — the company’s largest — had third quarter sales of $1.5 billion, an 11.1 percent increase compared to the 2016 quarter.

Henry Schein adjusted its earnings-per-share forecast for all of 2017 to growth of about 12 percent. The company also introduced guidance for 2018 of earnings-per-share growth of 11 percent to 14 percent compared to the forecast for 2017.

Shares of Henry Schein have fallen 9.5 percent in the past 12 months.

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