Press release
Henry Schein Reports Fourth-Quarter and Full-Year 2022 Financial Results and Introduces 2023 Financial Guidance
Fourth-quarter net sales of $3.4 billion increased 1.2% compared with the fourth quarter of 2021; internal sales increased 5.0% in local currencies when
About this update from Henry Schein, Inc.
[{"type":"text","content":"\n\nFourth-quarter net sales of $3.4 billion increased 1.2% compared with the fourth quarter of 2021; internal sales increased 5.0% in local currencies when excluding sales of personal protective equipment (PPE) products and COVID-19 test kits and the extra sales week in 2022\n\n\nFourth-quarter GAAP diluted EPS of $0.34 compared with fourth-quarter 2021 GAAP diluted EPS of $1.05\n\n\nFourth-quarter non-GAAP diluted EPS of $1.21 compared with fourth-quarter 2021 non-GAAP diluted EPS of $1.07\n\n\nIntroduces guidance for 2023 non-GAAP diluted EPS of $5.25 to $5.42 excluding amortization expense of acquired intangible assets, reflecting high single-digit to low double-digit growth in non-GAAP operating income over 2022 when excluding the contribution from PPE products and COVID-19 test kits\n\n\n MELVILLE, N.Y.--(BUSINESS WIRE)--\nHenry 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 December 31, 2022.\n\n“We closed out 2022 with a very good fourth quarter in which we continued to execute effectively on our 2022 to 2024 Strategic Plan goals, achieving strong growth in earnings for the fourth quarter and the full year, despite macroeconomic and foreign exchange headwinds. We overcame significant headwinds from lower sales of PPE products and COVID-19 test kits,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Looking ahead, we are introducing financial guidance for 2023 where we expect operating income growth in the high single-digit to low double-digit percentage range when excluding the contribution from PPE products and COVID-19 test kits. The impact of lower selling prices of PPE products and reduced demand for COVID-19 test kits will be largely offset by earnings momentum in our underlying core businesses, and the good momentum we have as we enter 2023 gives us confidence in this full-year 2023 guidance.\n\n“Fundamentals in our dental end market remain solid. In the fourth quarter, we believe global dental consumable merchandise growth was impacted by a high incidence of flu and COVID-19 cases, which caused increased rates of patient appointment cancellations and furthered staffing shortages. However, patient flows appear to have returned...