Henry Schein, Inc. (NASDAQ:HSIC) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET Graham Stanley - VP, IR & Strategic Financial Project Officer Stanley Bergman - Chairman & CEO Ron South - SVP & CFO Operator Graham Stanley In addition, all comments about the markets we serve, including end market growth rates and market share, are based upon the company's internal analysis and estimates. Today's remarks will include both GAAP and nonGAAP financial results. We believe that non-GAAP financial measures ...

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].

Henry Schein, Inc. (NASDAQ:HSIC) Q4 2022 Earnings Conference Call February 16, 2023 10:00 AM ET Company Participants Graham Stanley - VP, IR & Strategic Finance Project Officer Stanley Bergman - Executive Chairman & CEO Ronald South - SVP & CFO Conference Call Participants Jeffrey Johnson - Robert W. Baird & Co. Elizabeth Anderson - Evercore ISI Jason Bednar - Piper Sandler & Co. Kevin Caliendo - UBS Jonathan Block - Stifel, Nicolaus & Company Nathan Rich - Goldman Sachs Group Operator Good morning, ladies ...

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 ...

Henry Schein, Inc. (NASDAQ:HSIC) Q2 2022 Earnings Conference Call August 2, 2022 10:00 AM ET Company Participants Graham Stanley - Vice President of Investor Relations & Strategic Financial Project Officer Stanley Bergman - Executive Chairman & Chief Executive Officer Ron South - Senior Vice President & Chief Financial Officer Conference Call Participants Jason Bednar - Piper Sandler Andrew Brackmann - William Blair Jon Block - Stifel Jeff Johnson - Baird A.J. Rice - Credit Suisse Operator Good morning, lad ...

ZHENRY SCHEIN® Q2 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 ...

Henry Schein, Inc. (NASDAQ:HSIC) Q1 2022 Earnings Conference Call May 3, 2022 10:00 AM ET Company Participants Stanley Bergman – Chairman and Chief Executive Officer Ronald South – Senior Vice President and Chief Financial Officer Graham Stanley – Vice President Investor Relations and Strategic Finance Project Officer Conference Call Participants Jeff Johnson – Baird Jason Bednar – Piper Sandler Justin Lin – William Blair Elizabeth Anderson – Evercore ISI Nathan Rich – Goldman Sachs Justin Wang – Credit Sui ...

ZHENRY SCHEIN® Q1 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 ...