Press release
Henry Schein Reports Second Quarter 2020 Financial Results
Q2 GAAP loss per diluted share from continuing operations of $0.08 versus prior-year GAAP diluted EPS from continuing operations of $0.78 Q2 non-GAAP diluted
About this update from Henry Schein, Inc.
[{"type":"text","content":"\n\nQ2 GAAP loss per diluted share from continuing operations of $0.08 versus prior-year GAAP diluted EPS from continuing operations of $0.78\n\n\nQ2 non-GAAP diluted EPS from continuing operations of $0.00 versus prior-year non-GAAP diluted EPS from continuing operations of $0.84\n\n\nCompany maintains a strong balance sheet with access to significant liquidity\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 second quarter 2020 financial results from continuing operations. Results from continuing operations exclude contributions from Henry Schein’s former Animal Health business, which was spun off in February 2019 to form a new publicly traded company, Covetrus (Nasdaq: CVET).\n\n\nNet sales for the quarter ended June 27, 2020, were $1.7 billion, a decrease of 31.2% compared with the second quarter of 2019 due to the impact of COVID-19. In local currencies, internally generated sales decreased 30.5%. Acquisition growth was immaterial (See Exhibit A for details of sales growth and a reconciliation of this non-GAAP measure to GAAP sales).\n\n\nGAAP net loss attributable to Henry Schein, Inc. from continuing operations for the second quarter of 2020 was $11.4 million, or a loss of $0.08 per diluted share, compared with prior-year net income from continuing operations of $116.8 million, or $0.78 per diluted share. Non-GAAP net income from continuing operations for the second quarter of 2020 was $0.6 million, or $0.00 per diluted share, compared with prior-year non-GAAP net income from continuing operations of $125.7 million, or $0.84 per diluted share. Non-GAAP results for the second quarter of 2020 and 2019 exclude certain items noted in Exhibit B, which provides a reconciliation of GAAP net income/loss from continuing operations and diluted EPS from continuing operations to non-GAAP net income and diluted EPS from continuing operations.\n\n\n\"Team Schein rose to the significant challenges caused by the global COVID-19 pandemic. These efforts are clear attributes of our corporate culture, which is rooted in care and respect for one another, as well as a commitment to our customers, suppliers, investors, and corporate social responsibility,\" said Stanley M. Bergman, Chairman of the Boa...