Core Insights - Henry Schein, Inc. (HSIC) reported second-quarter 2025 adjusted earnings per share (EPS) of $1.10, a decrease of 10.6% year-over-year, and missed the Zacks Consensus Estimate by 6.8% [1][9] - The company achieved net sales of $3.24 billion, reflecting a year-over-year increase of 3.2%, and exceeded the Zacks Consensus Estimate by 0.6% [2][9] Revenue Breakdown - Global Distribution and Value-Added Services segment sales rose 2.9% year-over-year to $2.73 billion, surpassing the forecast of $2.66 billion [3] - Global Dental Distribution merchandise sales fell 0.4% in constant currencies, while equipment sales increased by 1.6% [4] - Global Medical Distribution sales jumped 6% in constant currencies, driven by increased patient traffic and growth from acquisitions [4] - Global Specialty Products sales totaled $386 million, up 4.2% year-over-year, reflecting growth in implant and biomaterial sales [6] - Global Technology segment sales reached $167 million, a 7.4% increase, led by strong growth in practice management systems [7] Margin Performance - Gross profit for the quarter was $1.02 billion, a 0.2% decrease year-over-year, with gross margin contracting by 110 basis points to 31.4% due to a 5% rise in the cost of sales [8][9] - SG&A expenses declined by 0.4% to $778 million, while adjusted operating profit increased by 0.4% year-over-year to $238 million [10] Liquidity and Share Repurchase - At the end of Q2 2025, the company had cash and cash equivalents of $145 million, up from $127 million at the end of Q1 [11] - Cumulative net cash provided by operating activities was $157 million, down from $493 million year-over-year, with nearly 3.7 million shares repurchased at an average price of $70.88 per share [12] Guidance - The company maintained its adjusted EPS forecast for 2025 in the range of $4.80-$4.94, indicating 1-4% growth from 2024 [13] - Projected revenue growth for 2025 remains unchanged at nearly 2-4% compared to the previous year [13] Strategic Outlook - The company is advancing its BOLD+1 Strategic Plan for 2025 to 2027, focusing on operational efficiency, enhancing customer experience, and growing its digital footprint [15]

Core Viewpoint - Henry Schein, Inc. (HSIC) reported adjusted earnings per share (EPS) of $1.15 for Q1 2025, reflecting a 4.5% increase year-over-year and exceeding the Zacks Consensus Estimate by 3.6% [1][12] Financial Performance - The company recorded a GAAP EPS of 88 cents, up from 72 cents in the same quarter last year [2] - Q1 revenues were $3.17 billion, a slight decline of 0.1% year-over-year, and fell short of the Zacks Consensus Estimate by 1.8% [3] - Constant currency total net sales increased by 1.4%, while excluding PPE and COVID-19 test kits, sales growth was 2% year-over-year [3] Segment Analysis - Global Distribution and Value-Added Services segment sales decreased by 0.7% to $2.68 billion, with a 0.8% increase in constant currencies [4] - Global Dental Distribution merchandise sales rose by 0.4% in constant currencies, while equipment sales fell by 2.4% due to sales deferrals [5] - Global Medical Distribution sales increased by 3% in constant currencies, driven by higher patient traffic and growth from acquisitions [5] - Global Specialty Products segment sales totaled $367 million, up 2% on a reported basis [6] - Global Technology segment sales reached $162 million, reflecting a 2.9% increase on a reported basis [7] Margin and Liquidity - Gross profit for the quarter was $1.00 billion, a 1.2% decrease year-over-year, with gross margin contracting to 31.6% [8] - SG&A expenses decreased by 6.7% to $738 million, while adjusted operating profit rose by 18.6% to $262 million [8] - The company ended Q1 2025 with cash and cash equivalents of $127 million, up from $122 million at the end of Q4 2024 [9] Share Repurchase and Guidance - HSIC repurchased approximately 2.3 million shares at an average price of $71.58, totaling around $161 million, with $718 million available for future repurchases [10] - The company maintained its adjusted EPS forecast for 2025 in the range of $4.80-$4.94, indicating 1-4% growth from 2024 [11] Strategic Outlook - HSIC is advancing its BOLD+1 Strategic Plan for 2025 to 2027, focusing on operational efficiency, enhancing customer experience, and expanding its digital solutions [13]