Why did HSIC's Q2 2024 earnings fall short of forecasts?

Henry Schein's (HSIC) Q2 2024 earnings fell short of forecasts due to a combination of factors:

1. **Revenue Shortfall**: The company's total revenue for the quarter was $3.14 billion, which was accompanied by an EPS of $0.8. However, the revenue fell short by approximately $130 million compared to expectations. This shortfall indicates that the company's actual performance in terms of sales was lower than what analysts had anticipated.

|code|Ticker|Name|Date|Revenue Surprise|EPS Surprise|market_code|
|---|---|---|---|---|---|---|
|HSIC|HSIC.O|Henry Schein|2023 Q3|-4.8E7|0|185|
|HSIC|HSIC.O|Henry Schein|2023 Q4|-2.3E7|-0.04|185|
|HSIC|HSIC.O|Henry Schein|2024 Q1|-4.0E7|0.08|185|
|HSIC|HSIC.O|Henry Schein|2024 Q2|-1.3E8|0.01|185|

2. **Analyst Estimates**: Prior to the earnings release, several analysts had adjusted their estimates for Q2 2024. While some, like Zacks Research, had increased their EPS estimates, others, including William Blair and Leerink Partners, had decreased their estimates. The consensus among analysts before the earnings release suggests that there was a general expectation of lower earnings compared to the previous year.
3. **Cyberattack Impact**: Although not directly mentioned in the context of the Q2 2024 earnings, Henry Schein had previously experienced a cyberattack that impacted its operations and sales. The company had to navigate the aftermath of this cyberattack, which likely affected its performance in the quarter. The company's ability to recover from such incidents and its operational efficiency in the post-attack environment could have influenced its earnings.

In summary, Henry Schein's Q2 2024 earnings fell short of forecasts due to a combination of lower-than-expected sales and the ongoing impact of a previous cyberattack.