Full Press Release Details
HENRY SCHEIN REPORTS FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS
AND INTRODUCES 2026 FINANCIAL GUIDANCE
Q4 2025 GAAP diluted EPS of $0.85,
compared to $0.74 GAAP diluted EPS in Q4 2024
Q4 2025 non-GAAP diluted EPS of $1.34,
compared to $1.19 non-GAAP diluted EPS in Q4 2024
2026 non-GAAP diluted EPS expected to be in the range of $5.23
to $5.37, with total sales growth expected to
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 fourth quarter ended
Our fourth-quarter sales reflect continuing momentum resulting in
the highest sales growth in 15 quarters.
pleased with the sales results across all our businesses, particularly our
global equipment, specialty products and technology
businesses. This drove our strong fourth-quarter earnings which exceeded the
increased 2025 financial guidance we provided
in our third quarter earnings release, said Stanley M. Bergman, Chairman of the
Board and Chief Executive Officer of
The growth we have achieved,
especially over the second half of 2025, demonstrates the effective execution
2025-2027 BOLD+1 strategic plan, and positions us well for the future. Our 2026
financial guidance underscores sustained
growth through continued strong execution of these strategies, added
Mr. Bergman. I am excited that Fred Lowery will join
Henry Schein as our CEO next week and believe that he will lead Henry
Schein to even greater success.
Fourth Quarter 2025 Financial Results
for the quarter were $3.4 billion.
Total net sales increased 7.7% compared with the fourth quarter of
2024 and reflects 4.9% internal sales growth, 0.9% sales growth from acquisitions,
and a 1.9% increase resulting
from foreign currency exchange.
Fourth-quarter sales growth is detailed in Exhibit A
Global Distribution and Value-Added Services sales
for the quarter increased 7.0%, and by 5.2% in constant
currencies compared with the fourth quarter of 2024. The main
Global Dental Distribution merchandise sales
for the quarter increased 6.4%, and by 3.7% in constant
currencies, compared with the fourth quarter of 2024, reflecting continuing
strong sales momentum from the
Global Dental Distribution equipment sales
for the quarter increased 12.2%, and by 9.1% in constant
currencies, compared with the fourth quarter of 2024, with strong growth
particularly in the U.S., Germany,
Brazil, Canada and Australia.
Global Medical Distribution sales
for the quarter increased 4.9%, and by 4.8% in constant currencies,
compared with the fourth quarter of 2024, reflecting good underlying growth
in medical products despite
softness in the respiratory product category.
Global Value-Added Services sales
quarter increased 9.6%, and by 8.5% in constant currencies,
compared with the fourth quarter of 2024,
with sales growth driven by consulting services.
Global Specialty Products sales
for the quarter increased 14.6%, and by 11.1%
in constant currencies,
with the fourth quarter of 2024,
reflecting strong overall dental implant and solid endodontics sales
Global Technology sales
for the quarter increased 8.4%, and by 7.6% in constant currencies, compared with
fourth quarter of 2024,
reflecting accelerated adoption of cloud-based software and revenue from newly
for the quarter was $101 million, or $0.85 per diluted share
, and compares with fourth-quarter
2024 GAAP net income of $94 million, or $0.74 per diluted share.
for the quarter was $160 million, or $1.34
, and compares with fourth-
quarter 2024 non-GAAP net income of $149 million, or $1.19 per diluted
for the quarter was $291 million, and compares
with fourth-quarter 2024 Adjusted EBITDA of
for 2025 were $13.2 billion.
Total net sales increased 4.0% compared with 2024 and reflects 2.6%
internal sales growth, 0.9% sales growth from acquisitions, and
a 0.5% increase resulting from foreign currency
exchange. Sales growth is detailed in Exhibit A
for 2025 was $398 million, or $3.27 per diluted share
, and compares with 2024 GAAP net
income of $390 million, or $3.05 per diluted share.
for 2025 was $605 million, or $4.97
, and compares with 2024 non-GAAP
net income of $605 million, or $4.74 per diluted share.
for 2025 was $1,101 million and compares with 2024 Adjusted EBITDA
During the fourth quarter of 2025, the Company repurchased approximately
2.8 million shares of common stock at an
average price of $71.10 per share for a total of $200 million.
For the full year 2025, the Company repurchased approximately 12.1
million shares of common stock at an average
price of $70.47 per share for a total of $850 million.
This includes 3.5 million shares of common stock purchased under
Accelerated Stock Repurchase plan (ASR) which was completed in
the third quarter, at an average price of $71.60 per share
for a total of $250 million.
At year-end, Henry Schein had $780 million authorized and available for future stock repurchases.
2026 Financial Guidance
Henry Schein today provided 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