HENRY SCHEIN INC (HSIC): Results of Operations and Financial Condition
HENRY SCHEIN INC (HSIC) filed an SEC Form 8-K — Results of Operations and Financial Condition. -1- more FOR IMMEDIATE RELEASE HENRY SCHEIN REPORTS STRONG SECOND QUARTER 2026 FINANCIAL RESULTS AND RAISES FY2026 GUIDANCE ● Q2 2026 GAAP diluted EPS of $0.82 compared to $0.70 GAAP diluted EPS in Q2 2025 ● Q2 2026 non-GAAP diluted EPS of $1.27 compared to $1.10 non-GAAP diluted
How this was made
The 30-second read
Why it matters
Traders can update valuation and positioning based on the new FY2026 EPS and sales growth ranges, plus Q2 performance metrics (GAAP and non-GAAP EPS, net sales growth, adjusted EBITDA).
Market read
A same-day guidance raise with quantified FY2026 ranges is a direct catalyst for earnings expectations and near-term trading flows.
What to watch
The filing notes assumptions about foreign currency exchange rates remaining consistent and excludes tariff-refund benefits; deviations in FX or policy could pressure subsequent results versus the raised ranges.
HENRY SCHEIN REPORTS STRONG SECOND QUARTER 2026 FINANCIAL RESULTS AND RAISES FY2026 GUIDANCE
Total net sales increased 6.7%, GAAP diluted EPS increased to $0.82 from $0.70, non-GAAP diluted EPS increased to $1.27 from $1.10, and the Company raised 2026 guidance for non-GAAP diluted EPS, total sales growth, and Adjusted EBITDA growth.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total net sales, second quarter 2026GAAP | $3.5 billion | – | an increase of 6.7% |
| Internal sales growth, second quarter 2026other | 4.6% | – | – |
| Sales growth from acquisitions, second quarter 2026other | 0.7% | – | – |
| Foreign currency exchange contribution to sales growth, second quarter 2026other | a 1.4% increase | – | – |
| Net income, second quarter 2026GAAP | $94 million | – | – |
| Diluted EPS, second quarter 2026GAAP | $0.82 per diluted share | – | – |
| Net income, second quarter 2026non-GAAP | $145 million | – | – |
| Diluted EPS, second quarter 2026non-GAAP | $1.27 per diluted share | – | – |
| Adjusted EBITDA, second quarter 2026non-GAAP | $288 million | – | – |
| Total net sales, first half of 2026GAAP | $6.8 billion | – | an increase of 6.5% |
| Internal sales growth, first half of 2026other | 3.6% | – | – |
| Sales growth from acquisitions, first half of 2026other | 0.7% | – | – |
| Foreign currency exchange contribution to sales growth, first half of 2026other | a 2.2% increase | – | – |
| Net income, first half of 2026GAAP | $201 million | – | – |
| Diluted EPS, first half of 2026GAAP | $1.74 per diluted share | – | – |
| Net income, first half of 2026non-GAAP | $298 million | – | – |
| Diluted EPS, first half of 2026non-GAAP | $2.59 per diluted share | – | – |
| Adjusted EBITDA, first half of 2026non-GAAP | $577 million | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Global Distribution and Value-Added Services4.5% internal sales growth, 0.6% sales growth from acquisitions, and a 1.5% increase resulting from foreign currency exchange | sales for the quarter increased 6.6% | – | increased 6.6% |
| Global Dental Distribution merchandise5.9% internal sales growth | merchandise sales for the quarter increased 9.7% | – | increased 9.7% |
| Global Dental Distribution equipment2.2% internal sales growth | equipment sales for the quarter increased 3.8% | – | increased 3.8% |
| Global Medical Distribution3.9% internal sales growth | sales for the quarter increased 4.0% | – | increased 4.0% |
| Global Value-Added Services3.7% internal sales growth | sales for the quarter increased 5.1% | – | increased 5.1% |
| Global Specialty Products3.2% internal sales growth, 3.4% sales growth from acquisitions, and a 2.1% increase resulting from foreign currency exchange | sales for the quarter increased 8.7% | – | increased 8.7% |
| Global Technology9.1% internal sales growth, 1.3% sales decrease due to a business disposal, and a 0.4% increase resulting from foreign currency exchange | sales for the quarter increased 8.2% | – | increased 8.2% |
2026 outlook
- Revenue2026 total sales growth 4.5% to 5.5%
- Note2026 non-GAAP diluted EPS $5.29 to $5.39
- Note2026 Adjusted EBITDA growth Mid to high-single-digits
Capital returns
- During the second quarter of 2026, the Company repurchased approximately 2.6 million shares of common stock at an average price of $76.69 per share for a total of $200 million.
- For the year-to-date, the Company repurchased approximately 4.2 million shares of common stock at an average price of $77.05 per share for a total of $325 million.
- At the end of the quarter, Henry Schein had $455 million authorized and available for future stock repurchases.
What drove it
- Second-quarter sales growth reflected 4.6% internal sales growth, 0.7% sales growth from acquisitions, and a 1.4% increase resulting from foreign currency exchange.
- Global Dental Distribution merchandise sales increased 9.7%, with 5.9% internal sales growth.
- Global Specialty Products sales increased 8.7%, reflecting 3.2% internal sales growth, 3.4% sales growth from acquisitions, and a 2.1% increase resulting from foreign currency exchange.
- Global Technology sales increased 8.2%, reflecting 9.1% internal sales growth, partly offset by a 1.3% sales decrease due to a business disposal.
- Management cited sustained momentum across its businesses, strong gross margins, solid operational execution, and early benefits from value creation initiatives.
Concerns
- Guidance assumes that foreign currency exchange rates remain generally consistent with current levels.
- Guidance does not include the impact of restructuring expenses and related costs, amortization expense of acquired intangible assets, impairment of intangible assets, changes in contingent consideration, select implementation-related costs supporting value creation initiatives, and litigation settlements.
- FY2026 guidance does not include any remeasurement gains for the remainder of 2026 or any future benefits from tariff refunds.
- The Company did not provide a reconciliation of its 2026 non-GAAP diluted EPS guidance to projected GAAP diluted EPS or its 2026 Adjusted EBITDA guidance to GAAP net income.
What to watch
- Delivery against 2026 non-GAAP diluted EPS guidance of $5.29 to $5.39.
- Delivery against 2026 total sales growth guidance of 4.5% to 5.5%.
- Delivery against 2026 Adjusted EBITDA growth guidance of Mid to high-single-digits.
- Progress toward the Company's value creation goals, including accelerating growth, simplifying the business, driving operational rigor, and deepening customer relationships.
- The extent to which foreign currency exchange rates remain generally consistent with current levels.
Analysis
Henry Schein reported a strong second quarter, with total net sales of $3.5 billion, an increase of 6.7% compared with the second quarter of 2025. Growth included 4.6% internal sales growth, 0.7% sales growth from acquisitions, and a 1.4% increase resulting from foreign currency exchange. The Company stated that internal local currency sales growth accelerated compared with the first quarter.
Growth was broad across the businesses disclosed. Global Dental Distribution merchandise sales increased 9.7%, Global Specialty Products sales increased 8.7%, and Global Technology sales increased 8.2%. Global Medical Distribution sales increased 4.0%, while Global Dental Distribution equipment sales increased 3.8%. Technology had 9.1% internal sales growth, although its reported growth included a 1.3% sales decrease due to a business disposal.
Profit growth exceeded the disclosed sales-growth rate in the quarter. GAAP net income was $94 million, or $0.82 per diluted share, compared with $86 million, or $0.70 per diluted share. Non-GAAP net income was $145 million, or $1.27 per diluted share, compared with $135 million, or $1.10 per diluted share. Adjusted EBITDA was $288 million compared with $256 million. Management attributed earnings growth to strong gross margins, operational execution, and early benefits from value creation initiatives.
First-half results were also higher year over year. Total net sales were $6.8 billion, an increase of 6.5%, while GAAP diluted EPS was $1.74 compared with $1.58 and non-GAAP diluted EPS was $2.59 compared with $2.25. The Company returned $200 million through second-quarter repurchases and $325 million year-to-date, with $455 million remaining authorized and available for future stock repurchases.
The Company raised its 2026 outlook to non-GAAP diluted EPS of $5.29 to $5.39, total sales growth of 4.5% to 5.5%, and Adjusted EBITDA growth of Mid to high-single-digits. The guidance excludes several items, including restructuring and related costs, acquired-intangible amortization, impairment of intangible assets, changes in contingent consideration, select value-creation implementation costs, and litigation settlements. It also assumes foreign currency exchange rates remain generally consistent with current levels.
Management, verbatim
We delivered strong sales performance and margin improvement in the second quarter, driven by sustained momentum across our businesses and solid operational execution by the team. Internal local currency sales growth accelerated compared to the first quarter, which, combined with strong gross margins and the early benefits from our value creation initiatives, drove strong earnings growth.
Fred Lowery, Chief Executive Officer of Henry Schein
Our value creation plans remain a top focus for our team, and we are on track to achieve our goals. As we sharpen our focus, our priorities ahead are accelerating growth, simplifying our business, driving operational rigor, and further deepening our customer relationships, all of which we believe will create sustainable shareholder value.
Fred Lowery, Chief Executive Officer of Henry Schein
Not in the filing
stated, not guessed- Prior-year total net sales amount for the second quarter of 2025
- Prior-year total net sales amount for the first half of 2025
- Dollar revenue for each disclosed operating segment or business line
- GAAP gross profit and gross margin
- Non-GAAP gross profit and gross margin
- GAAP operating income and operating margin
- Non-GAAP operating income and operating margin
- Operating expenses
- Income tax expense and tax rate
- Operating cash flow
- Free cash flow
- Cash and cash equivalents
- Debt
- Dividend information
- GAAP EPS guidance
- Guidance for gross margin, operating expenses, and tax rate
- Prior-quarter figures for the reported financial metrics
- Prior-quarter comparison figures for the disclosed segment sales metrics
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is Henry Schein’s SEC Form 8-K (Item 2.02) reporting Q2 2026 results and raising FY2026 financial guidance.
Ticker impact
Henry Schein raised FY2026 guidance, including non-GAAP diluted EPS to $5.29 to $5.39 and sales growth to 4.5% to 5.5%.
Likely positive bias for HSIC as traders price in higher FY2026 EPS and EBITDA growth, with focus on whether margins and internal sales momentum persist.
The filing provides specific, updated FY2026 ranges and Q2 results (GAAP and non-GAAP EPS, net sales growth) plus the stated drivers (margin improvement, accelerated internal local currency sales).
Market effects
Supports the view that healthcare distribution and value-added services demand and margins are improving, potentially benefiting peers via read-across.
Limited direct regional signal; includes foreign currency exchange as a component of reported growth.
Moderate, as the company operates globally and guidance assumes FX stability, but the update is company-specific.
Counterpoint
The guidance raise is non-GAAP and excludes several items (restructuring, amortization, impairments, certain costs), so GAAP earnings power may be less strong than the headline implies.
Key entities
- public_companyHenry Schein, Inc.
Healthcare solutions provider reporting Q2 2026 results and raising FY2026 guidance.
- executiveFred Lowery
CEO quoted describing margin improvement and momentum behind the guidance raise.
