Press release
Henry Schein Reports Solid Second-Quarter 2023 Financial Results and Affirms Full-year Guidance
Achieved internal sales growth of 3.3% in local currencies, excluding sales of PPE products and COVID-19 test kits, driven by strength in the North American
About this update from Henry Schein, Inc.
[{"type":"text","content":"\n\nAchieved internal sales growth of 3.3% in local currencies, excluding sales of PPE products and COVID-19 test kits, driven by strength in the North American dental businesses\n\n\n\nSecond-quarter financial results with GAAP diluted EPS of $1.06, and non-GAAP diluted EPS of $1.31, reflecting solid core business growth offset by continued lower contributions from PPE products and COVID-19 test kit sales\n\n\n\nAffirms 2023 non-GAAP diluted EPS guidance of $5.18 to $5.35\n\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 second quarter ended July 1, 2023.\n\n\n“Today we are reporting solid results for the second quarter driven by our North America dental businesses with strong equipment and steady general merchandise sales, and continuing strength in sales of our technology and value-added services, implants, biomaterials and endodontic products. Demand for dental services and customer confidence continue to improve, as evidenced by the ongoing investments our customers are making in their practices,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Our outlook reflects overall confidence in our business and in the markets we serve.”\n\n\nMr. Bergman continued, “Our financial results and guidance demonstrate the continued advancement of our 2022-2024 BOLD+1 Strategic Plan. We are successfully executing the key initiatives, including expanding our specialty products and value-added services portfolios, optimizing our distribution businesses, leveraging key customer relationships and driving digital transformation. Year to date, we have committed over $1 billion to acquisitions that accelerate the implementation of our strategic plan, adding high-growth, high-margin products and services to our offering. With this clear focus, we believe we are well-positioned to further enhance Henry Schein’s leadership in the markets that we serve and to deliver long-term sustainable shareholder value.”\n\n\nSecond-Quarter Financial Results\n\n\n\nTotal net sales for the quarter were $3.1 billion, an increase of 2.3% compared with the second quarter of 2022. The 2.3% increase included a 0.2% decrease in local currencies excluding a...