Full Press Release Details
HENRY SCHEIN REPORTS RECORD THIRD QUARTER 2025 FINANCIAL RESULTS AND RAISES
FULL YEAR NON-GAAP EPS GUIDANCE
Q3 2025 GAAP diluted EPS of $0.84,
compared to $0.78 GAAP diluted EPS in Q3 2024, and Q3 2025 non-
GAAP diluted EPS of $1.38,
compared to $1.22 non-GAAP diluted EPS in Q3 2024
Raises 2025 guidance for non-GAAP diluted EPS to $4.88 to $4.96 and sales
growth to 3-4% to reflect third
Announces value creation initiatives expected to deliver over $200 million of
operating income improvement
over the next few years
Agreement reached to provide KKR the right to increase its HSIC stock ownership up to 19.9%
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 third quarter ended
We are pleased with our financial results for the third quarter, with sales growth accelerating in each of our
reportable segments including solid market share gains in our distribution
businesses as we are once again focused on driving
growth now that the cyber incident is fully behind us. This strong sales performance
was a key driver of the underlying
improvement in our operating income, said Stanley M. Bergman, Chairman of the
Board and Chief Executive Officer of
Henry Schein. Our successful execution of the BOLD+1 strategy, including the financial performance of our investments
high-growth, high-margin businesses,
set the foundation for strong future growth.
With continued input from KKR,
we have made good progress on advancing the value creation initiatives we
announced last quarter.
Based on our first phase of work, we believe we have
to deliver over $200 million of
improvements to operating income over the next few years, Mr. Bergman said. In addition, our board has approved an
amendment to the Strategic Partnership Agreement giving KKR the right to
increase its HSIC stock ownership up to 19.9%.
for the quarter were $3.3 billion.
As-reported total net sales increased 5.2% compared with the third
quarter of 2024 and reflects 3.3% internal sales growth, 0.7% sales growth
from acquisitions, and a 1.2% increase
resulting from foreign currency exchange.
Third-quarter sales growth is detailed in Exhibit A
Global Distribution and Value-Added Services sales
for the quarter increased 4.8%, and by 3.7% in constant
currencies compared with the third quarter of 2024. The main components
Global Dental Distribution merchandise sales
for the quarter increased 4.6%, and by 2.9% in constant
currencies, compared with the third quarter of 2024, reflecting relatively
consistent sales growth in local
currencies across U.S. and international businesses.
Global Dental Distribution equipment sales
for the quarter increased 5.5%, and by 3.4% in constant
currencies, compared with the third quarter of 2024, driven by strong
Global Medical Distribution sales
for the quarter increased 4.7%, and by 4.6% in constant currencies,
compared with the third quarter of 2024, reflecting good underlying growth
in medical products,
pharmaceuticals, and the Home Solutions business.
Global Value-added Services sales
in constant currencies,
compared with the third quarter of 2024,
with sales growth driven by consulting services.
Global Specialty Products sales
for the quarter increased 5.9%, and by 3.9%
in constant currencies,
the third quarter of 2024,
reflecting strong overall dental implant and endodontics sales growth.
Global Technology sales
for the quarter increased 9.7%, and by 9.0% in constant currencies, compared with
third quarter of 2024,
reflecting accelerated adoption of cloud-based software and sales
growth from recently
launched revenue cycle management solutions.
for the quarter was $101 million, or $0.84 per diluted share
, and compares with third-quarter
2024 GAAP net income of $99 million, or $0.78 per diluted share.
for the quarter was $167 million, or $1.38
, and compares with third-
quarter 2024 non-GAAP net income of $155 million, or $1.22 per diluted
for the quarter was $295 million, and compares
with third-quarter 2024 Adjusted EBITDA of
The third quarter of 2025 includes a remeasurement gain which is $9 million
more than the remeasurement gain
recognized in the third quarter of 2024.
-to-Date Financial Results
for the first nine months of 2025 were $9.7 billion. As-reported
total net sales increased 2.8%
compared with the first nine months of 2024 and reflects 1.8%
internal sales growth, 0.9% sales growth from
acquisitions, and a 0.1% increase resulting from foreign currency exchange.
Sales growth is detailed in Exhibit A
for the first nine months of 2025 was $297 million, or $2.42 per diluted share
with the first nine months of 2024 GAAP net income of $296 million, or $2.30
for the first nine months of 2025 was $445 million, or $3.63
compares with the first nine months of 2024 non-GAAP net income
of $456 million, or $3.55 per diluted share.
for the first nine months of 2025 was $810 million and compares with
first nine months of 2024
Adjusted EBITDA of $791 million.
During the third quarter of 2025, the Company repurchased
approximately 3.3 million shares of common stock at an
average price of $68.62 per share for a total of $229 million.
This included approximately 0.4 million shares of common stock to