Full Press Release Details
HENRY SCHEIN REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS
Q1 2026 GAAP diluted EPS of $0.92 compared to $0.88 GAAP diluted EPS in
Q1 2026 non-GAAP diluted EPS of $1.32 compared to $1.15 non-GAAP diluted
Reaffirming guidance for 2026 sales, non-GAAP diluted EPS, and Adjusted
Confirming that value creation initiatives are expected to deliver over $200 million of operating
improvement over the next few years, with $125 million run-rate by year-end
Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care
solutions to office-based dental and medical practitioners, today reported financial results
for the first quarter ended March
I am pleased with our strong first quarter results that reflect continuing
momentum from the second half of last year
as we grow market share and expand gross margins. Our growth outlook,
combined with the progress made on value-creation
initiatives and a strong start to the year, reinforces
my confidence that we will deliver on our 2026 financial guidance,
Chief Executive Officer of Henry Schein.
I am committed to the Company's goal of achieving greater than
$200 million of annual operating income improvement within the next
few years, with a $125 million run-rate by the end of
2026. These initiatives, along with continued execution of our strategic
plan, will contribute to us achieving high-single digit
to low-double digit earnings growth in the coming years.
Over the last two months as I have immersed myself in the business
and spoken with customers, suppliers and
employees, it is clear that Henry Schein has great assets with a
differentiated platform to serve as a trusted partner to
healthcare practitioners
worldwide. As we look ahead, I'm excited by the significant
opportunities to accelerate growth
through the use of technology,
improve operational execution, and become
a more agile company, added Mr. Lowery.
for the quarter were $3.4 billion,
an increase of 6.3% compared to the first quarter of 2025 and
reflects 2.5% internal sales growth, 0.7% sales growth from acquisitions, and
a 3.1% increase resulting from foreign
currency exchange. First quarter sales growth is detailed in Exhibit A
Global Distribution and Value-Added Services sales
for the quarter increased 6.1%, and reflects 2.5% internal
sales growth, 0.6% sales growth from acquisitions, and a 3.0% increase
resulting from foreign currency exchange
compared with the first quarter of 2025. The main components are:
Global Dental Distribution merchandise sales
for the quarter increased 9.0%, and by 3.0% internal sales
growth, compared with the first quarter of 2025, with continuing strong
momentum in the U.S.
Global Dental Distribution equipment sales
for the quarter increased 8.6%, and by 3.5% internal sales
growth, compared with the first quarter of 2025.
Global Medical Distribution sales
for the quarter increased 1.7%, and by 1.3% internal sales growth,
compared with the first quarter of 2025.
Global Value-Added Services sales
quarter increased 10.6%, and by 7.8% internal sales growth,
compared with the first quarter of 2025.
Global Specialty Products sales
for the quarter increased 8.1%, and by 1.7%
internal sales growth, 1.7% sales
growth from acquisitions, and a 4.7% increase resulting from
foreign currency exchange, compared with the first
Global Technology sales
for the quarter increased 7.0%, and reflects 6.9% internal sales growth, 1.3%
decrease due to a business disposal,
and a 1.4% increase resulting from foreign currency exchange,
the first quarter of 2025.
for the quarter was $107 million, or $0.92 per diluted share
, and compares with first-quarter
2025 GAAP net income of $110 million, or $0.88 per diluted share.
for the quarter was $153 million, or $1.32
, and compares with first-
quarter 2025 non-GAAP net income of $143 million, or $1.15 per diluted
for the quarter was $289 million and compares
with first-quarter 2025
In the first quarter of 2026, the Company acquired a controlling interest
in its S.I.N. distributor in the U.S. to enhance
its position in the value implant market and support its business integration
This transaction resulted in a
remeasurement gain of $11 million.
During the first quarter of 2026, the Company repurchased approximately
1.6 million shares of common stock at an
average price of $77.64 per share for a total of $125 million.
At the end of the quarter,
Henry Schein had $655 million authorized and available for future stock
2026 Financial Guidance
Henry Schein today reaffirmed its financial guidance for 2026. Guidance is for current
continuing operations and
does not include the impact of restructuring expenses and related costs, amortization
expense of acquired intangible assets,
the impairment of intangible assets,
changes in contingent consideration,
costs associated with shareholder advisory matters,
select implementation-related costs supporting value creation
and litigation settlements. This guidance also
assumes that foreign currency exchange rates remain generally consistent with
2026 non-GAAP diluted EPS attributable to Henry Schein, Inc.
is unchanged and expected to be $5.23 to $5.37.
2026 total sales growth is unchanged and expected to be approximately 3%
2026 Adjusted EBITDA
is unchanged and expected to grow mid-single digits compared with 2025.
Adjustments to 2026 GAAP Net Income and Diluted EPS