Henry Schein, Inc. · NASDAQ:HSIC
Henry Schein — Q2 2026 Earnings Presentation
21 slides from Henry Schein's earnings presentation, Aug 4, 2026
Slide 1: Q2 2026 Earnings Conference Call
Q2 2026 Earnings Conference Call Financial Results & Outlook August 4, 2026 1
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: Key Takeaways
Key Takeaways Continuing strong sales momentum in the business, with 4.6% internal local currency sales growth, combined with early benefits from value creation benefits, driving 15.5% non-GAAP EPS growth Raising Full Year 2026 guidance, which assumes no further remeasurement gains, and reflects str
Slide 4: Q2 Financial Highlights
Q2 Financial Highlights Non-GAAP Diluted EPS* Global Sales Growth** Adjusted EBITDA $1.27 +6.7% $288M *** Compares with $1.10 in Q2 2025, reflecting Internal local currency sales growth Compares with $256M in Q2 2025, reflecting growth of 15.5% y/y accelerated compared to the first quarter growth of
Slide 5: Key Focus Areas to Create Shareholder Value
Key Focus Areas to Create Shareholder Value Removing complexities and silos, focusing on Leveraging full scale Ou Si businesses that drive Grow ing r m Busi of company to value, and operating pl ne rat ify ss expand our market th as One Schein Accele ing share, share of wallet, Relentless and owned
Slide 6: Q2 2026 Consolidated Results
Q2 2026 Consolidated Results* Q2 2026 Q2 2025 Q2 2026 Q2 2025 y/y ∆ y/y ∆ (in millions of USD except EPS) (GAAP) (GAAP) (Non-GAAP) (Non-GAAP) Total Sales $3,458 $3,240 6.7% $3,458 $3,240 6.7% Operating $171 $151 12.9% $250 $225 10.5% Income Operating 4.94% 4.67% 27 bps 7.21% 6.96% 25 bps Margin Dilu
Slide 7: Henry Schein Sales Performance
Q2 2026 Henry Schein Sales Performance Sales Total Sales CC LCI Products Commentary* ($’million) Growth % Growth % Growth % • U.S. Dental Merchandise sales grew 6.5%, resulting from a combination of pricing and increased volume. Global Dental Merchandise $1,337 9.7% 7.3% 5.9% • International Dental
Slide 8: Global Distribution & Value-Added Services Group
Q2 2026 Global Distribution & Value-Added Services Group Markets remain stable and durable and have good underlying fundamentals Sales Growth (%) 12.0% 10.0% 9.7% Sales: 8.0% 6.0% 6.6% 5.9% 5.1% Total sales growth of 6.6% with reflects internal 4.5% 4.0% 3.8% 3.7% 4.0% 3.9% local currency sales grow
Slide 9: Global Specialty Products Group
Q2 2026 Global Specialty Products Group Sales growth was driven by implants and biomaterials in both our premium and value products. Sales Growth (%) Sales: 10.0% 8.7% Total sales growth of 8.7% with internal local 8.0% currency sales growth of 3.2%. 6.0% 4.0% 3.2% Implant growth in Europe was high-
Slide 10: Global Technology Group
Q2 2026 Global Technology Group Sustained momentum in cloud-based software and technology solutions Sales Growth (%) 12.0% Sales: 10.0% 9.1% 8.2% Total sales growth of 8.2% with internal local 8.0% 6.0% currency sales growth of 9.1%. 4.0% 2.0% Sales growth was driven by our cloud-based 0.0% practice
Slide 11: Balanced Capital Allocation Strategy
Balanced Capital Allocation Strategy $242M Q2 2026 Operating 2.8x Debt-to-Adjusted EBITDA ratio as of June 27, 2026* $455M Cashflow Remaining share Maintain investment repurchase grade balance sheet authorization at the end of Q2 Acquisitions $6M 1 Invested Q2 Capital allocation for the second quart
Slide 12: Financial Guidance – FY2026
Financial Guidance – FY2026 Updated Prior As of August 4, 2026* Raised 2026 full year guidance Guidance for Guidance for FY2026 FY2026 • Guidance does not assume any remeasurement gains for the remainder of 2026, or any future benefits from tariff refunds. 2026 Non-GAAP Diluted EPS $5.29 to $5.39 $5
Slide 13: Appendix
Appendix 13
Slide 14: Worldwide Financial Results
Q2 2026 Worldwide Financial Results* Q2 2026 Q2 2025 (in millions of USD except EPS) y/y ∆ (Non-GAAP) (Non-GAAP) Total sales $3,458 $3,240 6.7% Gross profit 1,101 1,016 8.3% Gross margin 31.83% 31.37% 46 bps Operating expenses (Non-GAAP)** 851 791 7.7% Operating income (Non-GAAP)** $250 $225 10.5% O
Slide 15: Adjusted EBITDA
Adjusted EBITDA (in millions of USD) Q2 2026 Q2 2025 Net Income attributable to Henry Schein, Inc. (GAAP) $94 $86 Net Income attributable to noncontrolling interests 8 8 Net Income (GAAP) 102 94 Interest income (8) (9) Interest expense 43 38 Income taxes 34 31 Depreciation and amortization 83 76 Res
Slide 16: Sales Summary: Global Distribution and Value-Added Services Group
Q2 2026 Sales Summary Global Distribution and Value-Added Services Group (in millions of USD) Q2 2026 Q2 2025 y/y ∆ y/y LCI ∆ Dental Merchandise $652 $602 8.3% 6.5% Dental Equipment 216 219 -1.1% -1.1% Value-Added Services 51 51 1.4% 1.4% Total Dental 919 872 5.6% 4.3% Medical 1,027 988 3.8% 3.8% To
Slide 17: Sales Summary: Global Specialty Products Group
Q2 2026 Sales Summary Global Specialty Products Group* (in millions of USD) Q2 2026 Q2 2025 y/y ∆ y/y LCI ∆ Global Specialty Products Group $419 $386 8.7% 3.2% *Global Specialty Products Group includes certain expenses related to managing owned-brands that support sales in the distribution businesse
Slide 18: Sales Summary: Global Technology Group
Q2 2026 Sales Summary Global Technology Group (in millions of USD) Q2 2026 Q2 2025 y/y ∆ y/y LCI ∆ U.S. HS One $137 $126 8.7% 8.7% International HS One 37 34 8.7% 13.3% Global HS One 174 160 8.6% 9.6% Other 7 7 -2.3% -2.3% Global Technology Group $181 $167 8.2% 9.1% 18
Slide 19: GAAP to Non-GAAP Income Statements
Q2 2026 GAAP to Non-GAAP Income Statements Costs Associated with Shareholder Advisory Restructuring Acquisition Change in Q2 2026 Matters and Select Q2 2026 and Related Intangible Contingent GAAP Implementation Related Non-GAAP (in millions of USD except EPS) Costs Amortization Consideration Value C
Slide 20: GAAP to Non-GAAP Reconciliation: Q2 2026 Financial Highlights
GAAP to Non-GAAP Reconciliation Q2 2026 Financial Highlights Henry Schein, Inc. Second Quarter 2026 Analyst Presentation Q2 2026 - Financial Highlights (in millions, except per share data) Reconciling Items Costs Associated with Shareholder Advisory Matters and Select Implementation Related Restruct
Slide 21: GAAP to Non-GAAP Reconciliation: 2025 Financial Highlights
GAAP to Non-GAAP Reconciliation 2025 Financial Highlights Henry Schein, Inc. Second Quarter 2026 Analyst Presentation Full Year 2025 Financial Highlights (in millions, except per share data) Reconciling Items Cyber Incident- Insurance Proceeds, Net of Acquisition Third-Party Change in Impairment of