Henry Schein, Inc. · NASDAQ:HSIC
Henry Schein — Investor Day (February 2023)
93 slides from Henry Schein's investor day presentation, Feb 27, 2023
Slide 1: Boldly Creating Value for Our Stakeholders
B O L D LY C R E AT I N G VA L U E F O R O U R S TA K E H O L D E R S February 27, 2023 The oral presentation today will be recorded for replay for those who couldn’t attend. The recording will include the Q&A portion of the presentation. 1 This recording will be available on the “Investor Relations
Slide 2: Cautionary Note Regarding Forward-Looking Statements and Use of Non-GAAP Financial Information
Cautionary Note Regarding Forward-Looking Statements and Use of Non-GAAP Financial Information In accordance with the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could ca
Slide 3: Agenda
Agenda 1 6 Welcome Strategic Advantages of Henry Schein’s Integrated Digital Solutions 2 Executive Overview 7 +1 Create Value for Our Stakeholders ESG Activities 3 Build Complementary Software, Specialty 8 & Services Businesses Financial Goals • Specialty Products • Henry Schein One 9 • Value-Added
Slide 4: Executive Overview
Executive Overview Stanley Bergman CHAIRMAN & CHIEF EXECUTIVE OFFICER 4
Slide 5: Themes for the Day
Themes for the Day Leading positions in the growing $100B1 dental and alternate care medical products and services markets, and in the faster growing specialty and technology markets 2022-2024 BOLD+1 strategic plan provides a roadmap for long-term sustainable high single / low double-digit earnings
Slide 6: Henry Schein company at a glance
Henry Schein The Leading Provider of Health Care Products and Related Services to Office-based Dental and Medical Practitioners and Alternate Care Sites* SERVING MORE THAN MORE THAN $12.6B 1 MILLION 22,000 FY2022 GLOBAL NET SALES CUSTOMERS TEAM SCHEIN MEMBERS OPERATIONS IN COMPONENT OF 90 32 S&P 500
Slide 7: Key Developments Since IPO In 1995
Key Developments Since IPO In 1995 TRANSFORMED: SIGNIFICANTLY CURRENT STATE: EXTENDED POSITION IN: From the leading U.S. • Specialty products #1 #1 #2 mail-order dental distributor • Corporate brands and global provider of in global dental US provider of to the leading global dental proprietary prod
Slide 8: Favorable Macro Trends
Favorable Macro Trends Leading to Increased Patient Traffic and Demand for Products and Services Demographics • Aging global population Henry Schein benefits from: Healthcare Developments • Movement of procedures from hospital to physician offices and alternate care sites • market leadership • Growi
Slide 9: Our Vision for BOLD+1
Our Vision for BOLD+1 Customers will rely on us for an exceptional experience, delivering differentiated solutions that make their practices more successful and improve patient outcomes. Together, we make the world healthier. 9
Slide 10: Our BOLD+1 Priorities
Our BOLD+1 Priorities BUILD complementary software, specialty, and services to strategically shift our mix to high growth and high margin businesses • Provide integrated solutions • Accelerate both organic and inorganic growth of global specialty products and services • Capitalize on unique data to
Slide 11: Better Serving Our Stakeholders
Better Serving Our Stakeholders SUPPLIERS Further solidify position as a high-value partner +1 CUSTOMERS Continue to SHAREHOLDERS enhance practice TEAM SCHEIN’S efficiencies and Deliver sustainable UNIQUE CULTURE patient outcomes long-term growth Attract, retain, and develop talent SOCIETY Together,
Slide 12: Henry Schein's Value Proposition
Henry Schein's Value Proposition A Suite of Differentiated Customer Solutions Including Proprietary Products and Integrated Software Henry Schein’s solutions enable: Uniquely positioned to provide solutions for general and Improved patient experience specialist practitioners in alternate healthcare
Slide 13: Henry Schein's Value Proposition
Henry Schein's Value Proposition A Suite of Differentiated Customer Solutions Including Proprietary Products and Integrated Software Henry Schein’s solutions enable: Uniquely positioned to provide solutions for general and Improved patient experience specialist practitioners in alternate healthcare
Slide 14: Henry Schein's Value Proposition
Henry Schein's Value Proposition A Suite of Differentiated Customer Solutions Including Proprietary Products and Integrated Software Henry Schein’s solutions enable: Uniquely positioned to provide solutions for general and Improved patient experience specialist practitioners in alternate healthcare
Slide 15: Henry Schein's Value Proposition
Henry Schein's Value Proposition A Suite of Differentiated Customer Solutions Including Proprietary Products and Integrated Software Henry Schein’s solutions enable: Uniquely positioned to provide solutions for general and Improved patient experience specialist practitioners in alternate healthcare
Slide 16: Experienced Management Team
Speaker Experienced Management Team Stanley Bergman James Breslawski Michael Ettinger Mark Mlotek Ronald South Chairman and Vice Chairman EVP and Chief EVP and Chief Strategic SVP and Chief Chief Executive Officer and President Operating Officer Officer Financial Officer Business Proven track record
Slide 17: Independent Directors
Independent Directors Extensive depth of experience among independent directors Mohamad Ali Deborah Derby Joseph L. Herring Kurt P. Kuehn Philip A. Laskawy Chief Executive Officer, Former President, Former Chief Executive Officer Former Chief Financial Officer, Lead Director, Henry Schein, Inc., Int
Slide 18: Key Takeaways
Key Takeaways Leading positions in attractive markets Strategic plan to create operating efficiencies, gain share in faster growing businesses, and to deliver an exceptional customer experience Opportunities to leverage existing customer base and gain additional share of wallet Proven track record o
Slide 19: BUILD Complementary Software, Specialty & Services Businesses: Dental Specialty Businesses
BUILD Complementary Software, Specialty & Services Businesses: Dental Specialty Businesses René Willi Steve Boggan Tom Popeck CEO, GLOBAL ORAL CCO, GLOBAL ORAL VP & GM, HEALTHCARE RECONSTRUCTION GROUP RECONSTRUCTION GROUP SPECIALTIES GROUP 16
Slide 20: Global Dental Specialties Overview
Global Dental Specialties Overview Solutions tailored to diverse $1B* #3 #2 2022 revenue implant and endodontics1 customer needs and price points biomaterials1 • An industry leader Implant Biomaterial CAD/CAM Endo Ortho • Among the fastest growing • Competitive and comprehensive offering • Strong in
Slide 21: Implant Dentistry, Biomaterials, and Orthodontics Market Overview
Implant Dentistry, Biomaterials, and Orthodontics Market Overview Growth Levers Driving Strategy Implant Dentistry • Aging population Orthodontics and Biomaterials • Large, underserved patient population • Rising consumer awareness • Greater patient affordability • Increasing number of implant & ort
Slide 22: Biotech Dental
Biotech Dental Strategic Implant, Aligner, and Software Company Acquisition • Largest and fastest-growing implant and custom abutment brands in France Rapidly growing provider of innovative clinical software and oral surgery and orthodontic products • State-of-the-art manufacturing ~$100M >750 In Sa
Slide 23: The Henry Schein Clinical Workflow Platform
The Henry Schein Clinical Workflow Platform Better Patient Outcomes and Ease of Use of Innovative Specialty Products Practice Management Henry Schein Clinical Planning Output – Digital Capture Fabrication System Navigator and Design Products Access patient Interoperability with Powering Options:
Slide 24: Henry Schein Navigator
Henry Schein Navigator Powering the Clinical Workflow Platform Patient case acceptance KEY ATTRIBUTES • Multi-specialty platform that creates unique workflow experience • Cloud-based, open architecture allowing integration of device and equipment Dental Specialists, Diagnosis manufacturers Aligners
Slide 25: Endodontics Market Overview
Endodontics Market Overview Providing a complete solution covering all aspects of the endodontic procedure Growth Levers Driving Strategy • Strong market growth dynamics $1.2B Market1,2 • New product launches including advanced irrigation technologies • Bioceramic materials adoption • Multiple sales
Slide 26: Dental Specialties: How We Win
Dental Specialties: How We Win Develop and launch innovative new products Expand global presence and address a broader market with diverse price points and products Leverage Henry Schein customer base to grow share of wallet Establish seamless clinical workflow platform across specialties 23
Slide 27: BUILD Complementary Software, Specialty & Services Businesses: Henry Schein One
BUILD Complementary Software, Specialty & Services Businesses: Henry Schein One Christine King Brian Weatherly Ali Hyatt EXECUTIVE CHAIR, CHIEF INTERNATIONAL CHIEF MARKETING OFFICER, HENRY SCHEIN ONE & STRATEGIC OFFICER, HENRY SCHEIN ONE HENRY SCHEIN ONE 24
Slide 28: Henry Schein One Overview
Henry Schein One Overview Integrating Practice Management Solutions ~$550M #1 2022 revenue Dental practice management Dental Suite Practice Patient Patient management relationship demand Revenue cycle Dental Clinical software management generation management analytics workflow Office profitabi
Slide 29: Henry Schein One Market and Growth Levers
Growth Levers Driving Strategy • Create integrated solutions and offer seamless office workflows • Enable DSO growth 100K • Leverage One Schein for its broad and deep customer Dental active relationships customers² • Provide analytics and real-time payments and claims • Facilitate artificial intelli
Slide 30: Industry Trends Are Driving Demand for Henry Schein One Solutions
Industry Trends Are Driving Demand for Henry Schein One Solutions Payment & Claims Innovation Customer Dynamics 72% of dentists are concerned with Consumerization of healthcare declining insurance reimbursement rates Preference for all-in-one digital solutions and movement to the cloud Growth of lar
Slide 31: A Single Platform to Support the Growth and Profitability of Dental Practices
A Single Platform to Support the Growth and Profitability of Dental Practices Reviews from our customers Patient Acquisition “We saw a 50% increase in web traffic—receiving 120 new patients—directly from searches that led them to our website through Henry Schein One.” & Engagement DR. JENNIFER BUTLE
Slide 32: Technology Solutions: How We Win
Technology Solutions: How We Win Develop innovative and integrated solutions and service models, including SaaS Leverage One Schein to broaden and deepen relationships with customers Gain market share in all customer segments particularly DSOs Drive fast growing product areas 30
Slide 33: BUILD Complementary Software, Specialty & Services Businesses: Value-Added Services Portfolio
BUILD Complementary Software, Specialty & Services Businesses: Value-Added Services Portfolio David Brous Natalie Westfall CEO, STRATEGIC VP & GM, FINANCIAL & BUSINESS GROUP STRATEGIC SOLUTIONS 31
Slide 34: Value-Added Services Business Overview
Value-Added Services Business Overview Helping customers operate a Primary services: more efficient practice and provide quality clinical care • Financial services • Practice transitions BENEFITS • Staffing services • Meets customer needs • Revenue cycle management • Drives customer loyalty • Highly
Slide 35: eAssist: Leader in Revenue Cycle Management
eAssist: Leader in Revenue Cycle Management • Largest dental revenue cycle operations outsourcing company in the U.S. • Submits claims and collects account receivables “ The eAssist platform has been absolutely transformative for our “ My team of Success Consultants using the eAssist Platform has “
Slide 36: Practice Services: Supporting Customers Through All Stages of Practice Ownership
Practice Services: Supporting Customers Through All Stages of Practice Ownership Henry Schein Financial Services Henry Schein Dental Practice Transitions Funding is provided by third-party financial • Practice Purchase & Sales institutions for the following products: • Equipment Financing & Leasing
Slide 37: Value-Added Services: How We Win
Value-Added Services: How We Win Continue to provide additional services both organically and inorganically Leveraging Henry Schein's financing programs 35
Slide 38: OPERATIONALIZE One Distribution and LEVERAGE One Schein
OPERATIONALIZE One Distribution and LEVERAGE One Schein Brad Connett Andrea Albertini Michael Ettinger Dirk Benson Nancy Lanni CEO, CEO, EVP & CHIEF CCO, VP & GM, NORTH AMERICA INTERNATIONAL OPERATING NORTH AMERICA STRATEGIC ACCOUNT DISTRIBUTION DISTRIBUTION OFFICER DISTRIBUTION MANAGEMENT 36
Slide 39: North America Distribution Business Overview
North America Distribution Business Overview The Leading1 Provider of Health Care Products and Related Services to Office-based Dental and Medical Practitioners and Alternate Care Sites 52% CUSTOMERS RELY ON US: Medical revenue (U.S.) • To provide innovative, integrated health care products and serv
Slide 40: North America Distribution Market Overview
North America Distribution Market Overview #1 Dental Distributor Growth Levers Driving Strategy 90% Dental Practices are active customers • Full-service and value-added sales model • Robust Fully Integrated Service Team (FIST) 2-4% Estimated Dental market growth3 • Customer segmentation strategies f
Slide 41: International Distribution Business Overview
International Distribution Business Overview The Leading Provider of Health Care Products and Related Services to Office-based Dental Practitioners CUSTOMERS RELY ON US: $2.6B • To provide innovative, integrated health care products 2022 revenue and services • To be trusted advisors and consultants
Slide 42: International Distribution Market Overview
International Distribution Market Overview 650K Dental Practices Growth Levers Driving Strategy • Superior customer experience Leverage the Henry Schein portfolio of owned #1 • and corporate brands • Broad range of corporate and owned brand products $30B $15B International Dental Distributor Market¹
Slide 43: Henry Schein Global Supply Chain Excellence
Henry Schein Global Supply Chain Excellence • 99%+ Service Level • 300K Unique Stocking SKUs Globally • 22K Unique Private Brand Products • Enhanced Transportation Network • 90% of Worldwide Customers Serviced Next Day • Globally operates out of 29 distribution and 19 manufacturing facilities 41
Slide 44: Panel Discussion
Panel Discussion Brad Connett Andrea Albertini Michael Ettinger Dirk Benson Nancy Lanni CEO, CEO, EVP & CHIEF CCO, VP & GM, NORTH AMERICA INTERNATIONAL OPERATING NORTH AMERICA STRATEGIC ACCOUNT DISTRIBUTION DISTRIBUTION OFFICER DISTRIBUTION MANAGEMENT 42
Slide 45: What are the key growth drivers for your businesses?
What are the key growth drivers for your businesses? 43
Slide 46: Tell us about the One Schein strategy and how it will drive growth
Tell us about the One Schein strategy and how it will drive growth. 44
Slide 47: What do you think differentiates Henry Schein's customer experience?
What do you think differentiates Henry Schein’s customer experience? 45
Slide 48: What is the key differentiator of Henry Schein's supply chain?
What is the key differentiator of Henry Schein’s supply chain? 46
Slide 49: Equipment order book growth drivers
It looks like the equipment order book continues to be strong. What are the key growth drivers? 47
Slide 50: What is driving growth in the Medical business?
What is driving growth in the Medical business, and do you expect this pace to continue? 48
Slide 51: What are you most excited about regarding the future?
What are you most excited about regarding the future of your respective businesses? 49
Slide 52: Advancing Our Digital Transformation Journey
Advancing Our Digital Transformation Journey Mark Hillebrandt Leigh Benowitz Trinh Clark VP & CHIEF DIGITAL SVP & CHIEF SVP & CHIEF REVENUE OFFICER GLOBAL DIGITAL GLOBAL CUSTOMER TRANSFORMATION EXPERIENCE OFFICER OFFICER 50
Slide 53: Meeting Evolving Customer Needs
Meeting Evolving Customer Needs Today’s Healthcare Provider expects to engage, shop for and manage their business online, as well as in-person. We intend to deliver on this expectation by executing on our three core priorities: Our digital investments lead to: • Greater customer retention • Increase
Slide 54: Enhancing Our Digital Profile
Enhancing Our Digital Profile The fastest growing presence in dental products search engine optimization The leader in dental products search engine marketing The leader in dental digital products lead generation 75% YoY growth1 in medical search engine optimization page 1 ranking A leading dental Y
Slide 55: Digital Marketing Goals
Digital Marketing Goals Lead in online search and Lead in digital content Deliver seamless product discovery to education to engage omnichannel shopping attract customers customers experience: online, in-person, or over the phone 53
Slide 56: Global eCommerce Platform
Global eCommerce Platform Clean, modern design Personalized experience Prominent, enhanced search Expanded equipment offering Quick view feature Ratings and reviews Guest check-out process Globally consistent, locally customizable 54
Slide 57: Digital Roadmap
Digital Roadmap U.S. / EMEA Focused Global Focused Creating Synergies Enhance Current Pilot and Scale Drive Future Experience and Build Global eCommerce Benefits Out Infrastructure Platform for Customers • Website enhancements • Scalable global platform • Business integrations • Marketing technology
Slide 58: Fostering a Customer-Centric Culture
Fostering a Customer-Centric Culture CX Strategy Maximize loyalty Team Schein Enable the consistent delivery of an exceptional, differentiated customer experience Data & Technology Extract insights for greater organizational leverage 56
Slide 59: Global Customer Experience
Global Customer Experience 57
Slide 60: Strategic Advantages of Henry Schein's Integrated Digital Solutions
Strategic Advantages of Henry Schein’s Integrated Digital Solutions Mark Mlotek EVP & CHIEF STRATEGIC OFFICER 58
Slide 61: Henry Schein's Value Proposition
Henry Schein's Value Proposition A Suite of Differentiated Customer Solutions Including Proprietary Products and Integrated Software Henry Schein’s solutions enable: Uniquely positioned to provide solutions for general and Improved patient experience specialist practitioners in alternate healthcare
Slide 62: Henry Schein One Overview
Henry Schein One Overview Integrating Practice Management Solutions Dental Suite Practice Patient Patient management relationship demand Revenue cycle Dental Clinical software management generation management analytics workflow Office profitability Patient communication Patient acquisition Cla
Slide 63: The Henry Schein Clinical Workflow Platform
The Henry Schein Clinical Workflow Platform Better Patient Outcomes and Ease of Use of Innovative Specialty Products Practice Management Henry Schein Clinical Planning Output – Digital Capture Fabrication System Navigator and Design Products Access patient Interoperability with Powering Options:
Slide 64: Henry Schein Navigator
Henry Schein Navigator Powering the Clinical Workflow Platform Patient case acceptance KEY ATTRIBUTES • Multi-specialty platform that creates unique workflow experience • Cloud-based, open suite allowing integration of device and equipment manufacturers Diagnosis • Consistent interface between workf
Slide 65: Digital and Customer Experience
Digital and Customer Experience Today’s Healthcare Provider expects to engage, shop for and manage their business online, as well as in-person. We intend to deliver on this expectation by executing on our three core priorities: Our digital investments lead to: • Greater customer retention • Increase
Slide 66: How We Win
How We Win Creating a unique and differentiated end-to-end solution resulting in #1 Global Distributor improved: supported by digital commerce • Patient experience A DIFFERENTIATED Leading • Patient outcomes Dental CUSTOMER SOLUTIONS #1 Practice Specialty Management Company Software & • Patient acce
Slide 67: ESG Activities
ESG Activities Jennifer Kim Field Lorelei McGlynn VP, CHIEF SUSTAINABILITY SVP, CHIEF HUMAN OFFICER RESOURCES OFFICER 65
Slide 68: 90+ Year Commitment to Our Five Constituents
90+ Year Commitment to Our Five Constituents — Team Schein, Customers, Suppliers, Investors, & Society ESG Priorities Aligned with Our Business Strategy Stakeholder ESG Engagement Environmental Reducing our environmental footprint in our operations and supply chain in collaboration with suppliers an
Slide 69: ESG Stewardship Designed to Achieve Our Sustainability Priorities
ESG Stewardship Designed to Achieve Our Sustainability Priorities Nominating & ESG oversight with Compensation Committee playing Governance a role in ESG matters related to human capital Committee management and executive compensation Sustainability Global cross-functional senior and middle manageme
Slide 70: Progress on Our ESG Reporting
Progress on Our ESG Reporting Issued Annual Completed ESG Finalizing TCFD Sustainability and CSR Assurance Readiness Scenario Analysis Report per SASB and GRI and implementing on our climate risks reporting framework, along enhanced reporting of and opportunities in with first TCFD report in non-fin
Slide 71: Progress on Our Environmental Priorities
Progress on Our Environmental Priorities Carbon Neutrality All-Electric Goals Advancing the Enhancing Supply by 2050 Circular Economy Chain Resilience • Mitigating our impact on • Remaining committed to • Striving circularity in our • Driving action and climate and addressing an all-electric operati
Slide 72: Progress on Our Social Priorities — Public-Private Partnerships
Progress on Our Social Priorities — Public-Private Partnerships Advancing Health Equity Promoting Health Integration Access to Care Advocacy Partnering for 20+ years with the American Dental Association Advancing awareness through key think tanks and consortium (ADA) Foundation’s Give Kids A Smile p
Slide 73: Progress on Our Social Priorities — Team Schein Engagement
Progress on Our Social Priorities — Team Schein Engagement Nurturing a Connected Committed to Diversity Driving a Culture Enhancing Development & Engaged Community & Inclusion of Wellness & Providing Purpose • Continued focus on creating a • 6 Employee Resource Groups • New Workplace Norms to • Expa
Slide 74: Financial Goals
Financial Goals Ronald South SVP & CHIEF FINANCIAL OFFICER 72
Slide 75: Key Financial Takeaways
Key Financial Takeaways Track record of strong performance: • 12% non-GAAP EPS3 CAGR over the last 5 years • 14% non-GAAP EPS3 CAGR over 27 years as a public company Successfully adapted to the pandemic by: • Responding rapidly to initial office closures and reopenings • Fulfilling additional demand
Slide 76: Growth Drivers in Our Businesses
Growth Drivers in Our Businesses Leveraging our distribution infrastructure and increasing efficiency to expand operating margin Growing our Specialty and Technology/Value-added Services businesses at a faster rate than our Distribution businesses Focusing on high growth customer segments and increa
Slide 77: Operational Execution and Planning Has Delivered Sales Growth
Operational Execution and Planning Has Delivered Sales Growth Strong and Sustainable Sales Growth Total Sales ($B)1: Growth vs PY (%): 4-year Sales CAGR 2019 – 2023E: 6.6% • Excluding PPE & COVID Test Kits: 5.9% $14.0 2.0% $2.4B estimated incremental sales since 2.0% $12.9 22.6% $12.6 2019 in non-PP
Slide 78: PPE and COVID Test Kit Sales
PPE and COVID Test Kit Sales Significant reduction in PPE and COVID Test Kit Sales since 2021 (~$900M lower sales)1 Sales ($M): $1,800 $1,783 250% PPE products and COVID Test Kits 207% $1,500 $650 200% • Helped sales recovery in 2020 $1,323 $1,245 and 2021 $1,200 150% $393 $1,133 $497 $900 $890 100%
Slide 79: Underlying Business Growth Largely Offsets Impact of PPE and COVID Test Kit Sales on EPS
Underlying Business Growth Largely Offsets Impact of PPE and COVID Test Kit Sales on EPS Lower Sales of PPE and COVID Test Kits reduce non-GAAP EPS growth1,2 Non-GAAP EPS ($): $5.38 $0.35 - $0.40 $0.24 - $0.412 $5.25 - $5.422 Non-GAAP EPS $5.50 Excluding PPE and COVID Test Kits 2023 Guidance: $5.00
Slide 80: Long-Term Financial Goals
Long-Term Financial Goals Long-Term Financial Goals Total Sales growth 6 – 8% Non-GAAP Operating Margin expansion 10+ bps Non-GAAP diluted EPS growth1 8 – 11% Our total sales growth assumes the following market growth rates: Dental market growth2 2 – 4% Dental Specialties market growth2 5 – 8% Techn
Slide 81: Converting Earnings into Cash
Converting Earnings into Cash 2019 – 2022 Operating Cash Flow versus GAAP Net Income1 $Million: $600 – 700M annual operating cash flow for investment in capital expenditure, share repurchases, and acquisitions High conversion ratio $710 $654 $631 $602 $599 $508 $538 $404 of profits into cash FY19 FY
Slide 82: Balanced, Disciplined Capital Deployment
Balanced, Disciplined Capital Deployment 2019 – 2022 Capital Allocation Continued focus on share repurchase and acquisitions 6% Acquisitions ON AVERAGE (PER ANNUM): 11% 35% Share Repurchases $300 – $400M share repurchases Debt Repayment 21% Net Working Capital $300 – $400M acquisitions Capital Expen
Slide 83: High-Growth Profit Mix
High-Growth Profit Mix BOLD+1 to drive accelerated growth in Non-GAAP Operating Income Contribution (2019 vs. 2024E) Technology & Value-Added Services businesses and Specialty products: 2019 non-GAAP 2024E non-GAAP Operating Income Operating Income Contribution1 Contribution1,2 • Projected to grow o
Slide 84: Financial Summary
Financial Summary 2023 non-GAAP projected operating income growth in the high single-digit to low double-digit range (excluding PPE & COVID Test Kits) Long-term annual sales goal of 6-8% & non-GAAP diluted EPS goal of 8-11% growth Operating Income contribution from high-growth, high-margin Technolog
Slide 85: Q&A
WIHENRY SCHEIN’ 2023 INVESTOR MEETING Q&A (ZHENRY SCHEIN" | (ely) on vs
Slide 86: Key Takeaways
Key Takeaways Stanley Bergman CHAIRMAN & CHIEF EXECUTIVE OFFICER 84
Slide 87: Key Takeaways
Key Takeaways Leading positions in attractive markets Strategic plan to create operating efficiencies, gain share in faster growing businesses, and to deliver an exceptional customer experience Opportunities to leverage existing customer base and gain additional share of wallet Proven track record o
Slide 88: Thank You
WIHENRY SCHEIN’ 2023 INVESTOR MEETING THANK YOU (ZHENRY SCHEIN" | (ely) on vs
Slide 89: Appendix: GAAP to Non-GAAP Reconciliations
Appendix GAAP to Non-GAAP Reconciliations 87
Slide 90: GAAP to non-GAAP Reconciliation: Growth Since Going Public
GAAP to non-GAAP Reconciliation Growth Since Going Public Full Year Growth Since Going Public (in millions, except per share data) Reconciling Items Reconciling Item Special Management Non-GAAP Before Amortization Amortization Expense Compensation Restructuring and Impairment of Expense from Acquire
Slide 91: GAAP to non-GAAP Reconciliation: Earnings Highlights
GAAP to non-GAAP Reconciliation Earnings Highlights Full Year Earnings Highlights From Continuing Operations (in millions, except per share data) GAAP EPS GAAP Net Income 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 GAAP Earnings per share $ 1.85 $ 2.80 $ 4.69 $ 2.81 $ 4.45 $ 3.91 $ 2
Slide 92: GAAP to non-GAAP Reconciliation: Operating Income
GAAP to non-GAAP Reconciliation Operating Income 90
Slide 93: GAAP to non-GAAP Reconciliation: Net Debt to EBITDA
GAAP to non-GAAP Reconciliation Net Debt to EBITDA 91