Company Overview - Henry Schein is the largest distributor of health care products and services to office-based dental and medical practitioners, serving over 1 million customers[2] - The company's 2020 global net sales reached $101 billion[2] - The company has a strong global distribution network with 28 warehouses worldwide[10] Market Position and Strategy - The company holds leading market positions, including being the 1 global dental distributor and 2 physician and alternate care distributor in the U S[5] - The company's strategy is focused on delivering solutions that enable customers to provide the best quality patient care while optimizing the efficiency of their practice[11] - The company aims to grow faster than end market growth rates organically[35] Financial Performance - The company's net sales in 2020 were $101191 million, a 13% increase from 2019[31] - The company's global dental sales in 2020 were $59 billion, representing 59% of net sales[14] - The company's global medical sales in 2020 were $36 billion, representing 36% of net sales[20] - The company's global technology & value-added services sales in 2020 were $514 million, representing 5% of net sales[24]

Industry Growth and Market Trends - The health care distribution industry is experiencing growth driven by an aging population, increased health care awareness, and improved access to care globally [28]. - The U.S. population aged 45 and older is projected to grow by approximately 11% from 2020 to 2030 and by approximately 22% from 2020 to 2040, compared to total U.S. population growth rates of about 7% and 12% respectively during the same periods [49]. - Increased demand for oral health care is expected due to the rising 45-and-older population, alongside a predicted rise in dental insurance coverage [50]. - The company aims to expand its dental full-service model and medical offerings in various countries, leveraging the "Schein Direct" program for door-to-door delivery in over 190 countries [53]. Customer Engagement and Sales Strategy - As of December 26, 2020, the company had an active user base of approximately 94,500 practices and 374,000 consumers using various software solutions [38]. - The company aims to increase penetration of its existing customer base, which includes over 1 million customers worldwide [47]. - The company has over 3,450 field sales consultants and approximately 2,250 telesales representatives to enhance customer engagement and sales [38]. - The company is focused on leveraging value-added products and services to increase cross-selling opportunities, particularly in the dental and medical sectors [47]. - The company maintains a strong commitment to superior customer service, frequently monitoring customer satisfaction through surveys and focus groups [40]. Financial Performance and Metrics - Net sales for the year ended December 26, 2020, were $10,119,141, an increase of 1.34% from $9,985,803 in 2019 [393]. - Gross profit decreased to $2,814,343 in 2020 from $3,090,886 in 2019, representing a decline of 8.9% [393]. - Operating income fell to $535,303 in 2020, down 25.4% from $718,261 in 2019 [393]. - Net income attributable to Henry Schein, Inc. was $403,794 in 2020, a decrease of 42% compared to $694,734 in 2019 [393]. - Basic earnings per share from continuing operations decreased to $2.83 in 2020 from $4.74 in 2019, a decline of 40.4% [393]. Regulatory Compliance and Risks - Compliance with evolving governmental regulations is critical, as changes may impose unforeseen costs and risks that could adversely affect business operations [55]. - The implementation of the Drug Supply Chain Security Act (DSCSA) is ongoing, with requirements for tracking prescription drugs in the U.S. expected to be fully phased in by 2023 [62]. - The EU Medical Device Regulation (EU MDR) imposes stricter compliance requirements for medical devices, with full application expected by 2024 [72]. - The company is subject to extensive local, state, federal, and foreign regulations affecting its distribution and sale of pharmaceuticals and medical devices, which may impact financial performance [56]. - The company faces significant penalties under fraud and abuse laws, which could include civil and criminal penalties, potentially affecting its financial standing and operational capabilities [81]. Impact of COVID-19 - The COVID-19 pandemic significantly impacted the dental market, with many practices closed or operating at limited capacity in March and April 2020, leading to reduced patient volumes [139]. - Despite a faster-than-anticipated recovery in dental practice openings, patient volumes remain below pre-COVID-19 levels, indicating ongoing uncertainty in demand [139]. - The company experienced significant reductions in demand for certain products during the pandemic, particularly in March and April 2020, affecting overall sales [139]. - Supply chain disruptions for Personal Protective Equipment (PPE) resulted in backorders and potential scarcity, impacting the company's ability to meet customer demand [140]. - The pandemic has led to potential delays in customer payments and defaults on credit arrangements, which could adversely affect cash flows and financial condition [140]. Workforce and Organizational Development - The company employs over 19,000 full-time equivalent employees, with approximately 49% based in the United States and 51% outside [114]. - Approximately 13% of the workforce is subject to collective bargaining agreements, indicating a significant portion of employees are unionized [114]. - The company has invested in over 50 organizational and development training courses aimed at enhancing employee skills and competencies [115]. - The company is committed to enhancing its Diversity and Inclusion initiatives, with an Executive Diversity and Inclusion Council established to guide efforts [115]. - The company has a strong collaborative workplace culture, with performance evaluations based on Team Schein values and a biennial culture survey [116]. Financial Position and Assets - Total assets increased to $7,772,532, up from $7,151,101 in 2019, representing an 8.7% growth [391]. - Cash and cash equivalents rose significantly to $421,185, compared to $106,097 in the previous year, marking a 296.5% increase [391]. - Accounts receivable increased to $1,424,787, up from $1,246,246, reflecting a 14.3% growth [391]. - Total current assets reached $3,791,415, an increase of 17.5% from $3,226,502 in 2019 [391]. - Total liabilities increased to $3,460,448, compared to $3,233,706 in 2019, which is a 7.0% rise [391].

ZHENRY SCHEIN® Q3 2020 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 ...

Henry Schein, Inc. (NASDAQ:HSIC) Q3 2020 Earnings Conference Call November 2, 2020 9:50 AM ET Company Participants Carolynne Borders - Vice President of Investor Relations Stanley Bergman - Chairman and Chief Executive Officer Steven Paladino - Executive Vice President and Chief Financial Officer Conference Call Participants Nathan Rich - Goldman Sachs Steven Valiquette - Barclays Bank Jonathan Block - Stifel, Nicolaus & Company Jeffrey Johnson - Robert W. Baird & Co. Steve Beuchaw - Wolfe Research, LLC Gle ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT 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) incorporation or organization) D ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2018 __ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-27078 HENRY SCHEIN, INC. (Exact name of registrant as specified in its charter) (I.R.S. Employer Identification No.) (Zip Code) DELAWARE 135 Duryea Road (State or other jurisdiction ...