MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, announced today that it will release its fourth quarter and full-year 2023 financial results before the stock market opens on Tuesday, February 27, 2024, and will provide a live webcast of its earnings conference call on the same day beginning at 10:00 a.m. Eastern time. The Company will also introduce its earnings expectations for the fu ...

MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, announced today that the Company will present at J.P. Morgan’s Healthcare Investor Conference on Wednesday, January 10, 2024, at 10:30 a.m. PST / 1:30 p.m. EST, at The Westin St. Francis Hotel in San Francisco. Henry Schein’s presentations can be heard via live webcast by visiting https://investor.henryschein.com/webcasts. Replays will b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 0-27078 HENRY SCHEIN, INC. (Exact name of registrant as specified in its charter) Delaware 11-3136595 (State or othe ...

Graham Stanley - Vice President, Investor Relations and Strategic Financial Project Officer Conference Call Participants Jeff Johnson - Baird Nathan Rich - Goldman Sachs As a reminder, this call is recorded. And I would now like to introduce your host for todayÂ's call, Graham Stanley, Henry ScheinÂ's Vice President of Investor Relations and Strategic Financial Project Officer. Thank you. Please go ahead, Graham. Before we begin, IÂ'd like to state that certain comments made during this call will contain -- ...

Financial Data and Key Metrics Changes - First quarter global sales were $3.1 billion, reflecting an LCI sales decrease of 3.7%. However, excluding PPE products and COVID-19 test kits, LCI sales grew by 6.3% [26][12] - GAAP net income for Q1 2023 was $121 million or $0.91 per diluted share, compared to $181 million or $1.30 per diluted share in the prior year. Non-GAAP net income was $161 million or $1.21 per diluted share, down from $200 million or $1.44 per diluted share [28][12] - GAAP operating margin for Q1 2023 was 5.7%, a decline of 196 basis points year-over-year. Non-GAAP operating margin was 7.7%, a decline of 102 basis points [27][12] Business Line Data and Key Metrics Changes - Global Dental sales were $1.9 billion, with LCI sales increasing by 4%. Excluding PPE products, LCI sales growth was 7.4% [29] - Global Medical sales during Q1 were $971 million, with LCI sales decreasing by 17.1% due to lower sales of PPE products and COVID-19 test kits. Excluding these categories, LCI sales grew by 4.2% [32][12] - Global technology and value-added services sales were $191 million, with LCI growth of 6.5% [31] Market Data and Key Metrics Changes - North America dental merchandise sales increased by 1.3% and by 6.6% when excluding sales of PPE products. International dental merchandise LCI sales increased by 8.1% or 11% when excluding PPE products [62] - The international dental equipment market showed strong sales growth, particularly in Central Europe, Australia, and Brazil [62][12] - The backlog for traditional equipment remains robust and is up year-over-year, indicating continued demand [117] Company Strategy and Development Direction - The company announced the acquisition of a majority stake in Biotech Dental and plans to enter the Brazilian implant market with the acquisition of S.I.N. Implant System, aligning with its BOLD+1 strategy focused on high-growth, high-margin opportunities [6][51] - The company is committed to advancing high-growth, high-margin businesses through organic growth and acquisitions, with a focus on innovative products and services [134] Management's Comments on Operating Environment and Future Outlook - Management noted that patient traffic to dental offices has recovered and is nearing pre-pandemic levels, with expectations for steady growth trends in both dental and medical markets [45][35] - The company anticipates headwinds from PPE and COVID-19 test kits in the second quarter but expects good income growth in the second half of the year as year-over-year comparisons normalize [35][12] Other Important Information - The company expects non-GAAP diluted EPS for 2023 to be in the range of $5.18 to $5.35 per share, reflecting a decline of 4% to 1% compared to 2022 [33] - Operating cash flow for Q1 was $27 million, down from $93 million in the previous year, primarily due to lower income from PPE and COVID-19 test kits [65] Q&A Session Summary Question: Impact of holiday week on sales - Management indicated that the absence of a holiday week in Q1 2023 likely contributed a couple of points to growth in the dental merchandise number [76] Question: Trends in specialty business growth - Management noted that while the specialty business grew by 4%, the growth was uneven across categories, with implants showing lower growth in the U.S. compared to Europe [84][86] Question: Stability of the equipment market - Management confirmed that the equipment market in Europe is stable, with traditional equipment showing good growth rates [80][106] Question: Future guidance on EPS and sales - Management provided guidance for total sales growth of approximately 1% to 3% over 2022, with a significant decline expected in COVID-19 test kit sales [93]

Industry Growth and Market Dynamics - The health care distribution industry is experiencing growth driven by an aging population, increased health care awareness, and improved access to care globally [24]. - The U.S. population aged 45 and older is expected to grow by approximately 11% from 2022 to 2032, and by approximately 21% from 2022 to 2042 [43]. - The dental industry is expected to see increased oral health care expenditures as the population aged 45 and older grows [44]. - The healthcare products distribution industry is highly competitive, with significant pressure from major manufacturers and distributors, which could adversely affect the company's market position [148]. - The company faces risks from industry consolidation, which may negatively impact margins and product availability [149]. Company Performance and Operations - As of December 31, 2022, the active user base for the company's practice management solutions included approximately 110,000 practices and 380,000 consumers [35]. - The company shipped an average of approximately 157,000 cartons daily, with 96% of items ordered shipped without back-ordering due to supply chain disruptions [42]. - The dental products segment accounted for 59.1% of consolidated net sales in 2022, while medical products accounted for 35.2% [40]. - The company aims to increase sales to its existing customer base of over 1 million worldwide, enhancing its position as their primary supplier [44]. - Seasonal fluctuations in sales and profitability are expected, with higher earnings typically in the third and fourth quarters due to seasonal product sales [49]. Regulatory Compliance and Legal Challenges - The company is subject to extensive governmental regulations, which may impact financial performance and compliance costs [50]. - The Drug Supply Chain Security Act (DSCSA) requires compliance with new tracking and tracing regulations for prescription drugs, with full implementation expected by November 2023 [56]. - The company is committed to compliance with various local, state, and federal laws regarding the distribution and marketing of pharmaceuticals and medical devices [54]. - Compliance with existing and future regulatory requirements is critical, as non-compliance could materially adversely affect the company's business [158]. - The company is subject to increased scrutiny on drug pricing, with various state and federal efforts aimed at controlling healthcare costs [159]. Strategic Initiatives and Growth Plans - The company is committed to enhancing its product offerings through organic investment and acquisitions to better serve its customers [31]. - The acquisition strategy focuses on investments that add new customers, increase geographic footprint, and access new products and technologies [44]. - The strategy includes increasing the productivity of field sales consultants and telesales teams to serve more customers across various healthcare settings [44]. - The company plans to leverage cross-selling opportunities between dental software users and dental customers, as well as expand vaccine and pharmaceutical sales in the medical business [44]. - The company continues to expand its dental and medical offerings in international markets through direct sales and partnerships with local distributors [48]. Workforce and Corporate Responsibility - The company employs over 22,000 people, with approximately 50% based in the United States and 50% outside the United States [109]. - About 12% of the company's employees are subject to collective bargaining agreements, indicating strong labor relations [109]. - The company has committed to announcing its carbon reduction goal by the end of 2023 as part of its sustainability efforts [110]. - The company is actively involved in health equity initiatives, promoting access to care for underserved communities [110]. - The company has expanded its Diversity and Inclusion learning programs, focusing on educating employees on privilege and equity [110]. Financial Performance and Risks - The company recognized $4 million of previously deferred revenue in 2022 following the termination of a Medicare payment suspension [68]. - The company has experienced inflationary pressures, including higher freight costs, but these have not materially impacted results in fiscal year 2022 [157]. - Adverse changes in supplier rebates or purchasing incentives could negatively affect the company’s financial condition and operating results [145]. - The company is dependent on third parties for a significant volume of products, with no long-term contracts in place, exposing operations to supply chain risks [138]. - The company anticipates that significant volatility in supply, demand, and selling prices for personal protective equipment (PPE) and COVID-19 related products will continue [136]. Data Privacy and Security - The GDPR imposes penalties of up to EUR 20 million or 4% of global revenues for non-compliance, significantly impacting data management practices [180]. - The CCPA and CPRA require additional protections for California residents' personal information, with potential fines for non-compliance [183]. - The PIPL in China imposes fines of up to CNY 50 million or 5% of annual revenue for non-compliance with personal data regulations [182]. - The company has implemented measures to protect its information systems, but there is no assurance that these measures will prevent future security incidents [196]. - The company is subject to increased scrutiny and enforcement of anti-bribery laws, which may require operational adjustments to ensure compliance [174].

Q4 FY2022 Earnings Conference Call Financial Results & Outlook ZHENRY SCHEIN® 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 cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are subject to risks and uncertainties and are not g ...

Henry Schein, Inc. (NASDAQ:HSIC) Q3 2022 Earnings Conference Call November 1, 2022 10:00 AM ET Company Participants Graham Stanley - VP of IR & Strategic Financial Project Officer Stanley Bergman - Executive Chairman & CEO Ron South - SVP & CFO Conference Call Participants Jeff Johnson - Baird Elizabeth Anderson - Evercore ISI Brandon Vazquez - William Blair A.J. Rice - Credit Suisse Jon Block - Stifel Erin Wright - Morgan Stanley Jason Bednar - Piper Sandler Operator Good morning, ladies and gentlemen, and ...

ZHENRY SCHEIN® Q3 2022 NASDAQ: HSIC Safe Harbor Provision 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 cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking ...

Financial Data and Key Metrics Changes - Total net sales for Q2 2022 were $3.0 billion, reflecting a growth of 2.1% compared to the prior year period. Internally generated sales in local currencies increased by 2.4%, and when excluding sales of PPE and COVID-19 related products, LCI growth was 6.7% [59][60] - GAAP net income for Q2 2022 was $160 million or $1.16 per diluted share, compared to $156 million or $1.10 per diluted share in the prior year [63] - Operating margin for Q2 2022 was 7.27%, representing an 18 basis point improvement compared to the prior year GAAP operating margin [61] Business Line Data and Key Metrics Changes - Global Dental sales were $1.9 billion, a decline of 3.1% compared to the same period last year, with LCI sales down 0.3%. Excluding PPE and COVID-19 related products, LCI sales growth was 3.5% [65] - Technology and Value-Added Services sales during Q2 were $181 million, an increase of 18.1% compared to the prior year, including LCI growth of 10.8% [71] - Global Medical sales during Q2 were $1.0 billion, growing 10.3% compared to the same period in 2021, with LCI sales growth of 6.7% [72] Market Data and Key Metrics Changes - Lower patient traffic due to higher COVID-19 infection rates impacted consumable merchandise sales in parts of Europe and Australia, while Brazil experienced double-digit sales growth [69] - North America dental equipment LCI sales increased by 8.1% compared to Q2 2021, with strong performance in both traditional and digital restoration categories [67] Company Strategy and Development Direction - The company is focused on executing its BOLD+1 2022 to 2024 strategic plan, aiming to provide exceptional customer experiences and deliver differentiated solutions [12] - A restructuring plan was announced to streamline operations and increase efficiency, with expected charges primarily related to severance pay and facility costs [76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a recovery of patient traffic as COVID-19 infection rates moderate, with expectations for improved performance in the second half of the year [10][90] - The company anticipates higher EPS growth in Q4 compared to Q3, revising full-year sales growth expectations to approximately 3% to 6% over 2021 [78] Other Important Information - The company repurchased approximately 1.3 million shares at an average price of $81.42 per share during Q2, totaling $110 million [74] - The effective tax rate for Q2 2022 was 23.8%, slightly higher than the previous year's rate [63] Q&A Session Summary Question: Impact of patient staff absenteeism on dental patient volumes - Management noted that it is difficult to quantify the impact but observed improvements in patient volumes towards the end of July, with expectations for recovery in the third quarter [88][90] Question: Margin visibility and cost controls - Management indicated that gross margin expansion is driven by product mix, particularly in Dental Specialty products and Technology, while careful management of operating expenses is crucial for margin expansion [94][96] Question: Customer pushback on pricing increases - Management acknowledged that while some customers are seeking alternatives due to pricing pressures, they have options to maintain margins and provide value-added services [99][101] Question: Long-term opportunities from staffing dynamics - Management expects dental staffing to recover closer to pre-COVID levels and highlighted investments in technology and value-added services to enhance practice efficiency [103][106] Question: Outlook for dental equipment - Management remains optimistic about the dental equipment outlook, citing strong orders and a solid backlog, with demand for traditional and digital restoration equipment continuing to grow [112][117]