Henry Schein | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 3.458 B

Revenue: As of FY2026 Q2, the actual value is USD 3.458 B, beating the estimate of USD 3.374 B.

EPS: As of FY2026 Q2, the actual value is USD 0.82, missing the estimate of USD 0.9816.

EBIT: As of FY2026 Q2, the actual value is USD 206 M.

Second Quarter 2026 Financial Results

Total Net Sales

Henry Schein, Inc. reported total net sales of $3.5 billion for the second quarter of 2026, an increase of 6.7% compared to the second quarter of 2025. This growth included 4.6% internal sales growth, 0.7% sales growth from acquisitions, and a 1.4% increase due to foreign currency exchange.

Segment Revenue (Q2 2026 vs Q2 2025)

• Global Distribution and Value-Added Services sales increased 6.6%, driven by 4.5% internal sales growth, 0.6% sales growth from acquisitions, and a 1.5% increase from foreign currency exchange.
  • Global Dental Distribution merchandise sales increased 9.7%, with 5.9% internal sales growth.
  • Global Dental Distribution equipment sales increased 3.8%, with 2.2% internal sales growth.
  • Global Medical Distribution sales increased 4.0%, with 3.9% internal sales growth.
  • Global Value-Added Services sales increased 5.1%, with 3.7% internal sales growth.
• Global Specialty Products sales increased 8.7%, reflecting 3.2% internal sales growth, 3.4% sales growth from acquisitions, and a 2.1% increase from foreign currency exchange.
• Global Technology sales increased 8.2%, reflecting 9.1% internal sales growth, a -1.3% sales decrease due to a business disposal, and a 0.4% increase from foreign currency exchange.

Operational Metrics (Q2 2026 vs Q2 2025)

• GAAP net income was $94 million, compared to $86 million in the second quarter of 2025.
• Non-GAAP net income was $145 million, compared to $135 million in the second quarter of 2025.
• Adjusted EBITDA was $288 million, compared to $256 million in the second quarter of 2025.
• Gross profit was $1,101 million in Q2 2026, up from $1,016 million in Q2 2025.
• Operating income was $171 million in Q2 2026, compared to $151 million in Q2 2025.
• Operating expenses included Selling, general and administrative expenses of $831 million (Q2 2025: $778 million), Depreciation and amortization of $70 million (Q2 2025: $64 million), and Restructuring and related costs of $29 million (Q2 2025: $23 million).

Cash Flow (Q2 2026 vs Q2 2025)

• Net cash provided by operating activities was $242 million, compared to $120 million in the second quarter of 2025.
• Net cash used in investing activities was - $65 million, compared to - $98 million in the second quarter of 2025.
• Net cash provided by (used in) financing activities was - $168 million, compared to $56 million in the second quarter of 2025.
• Cash and cash equivalents at the end of Q2 2026 were $157 million, compared to $145 million at the end of Q2 2025.

Year-to-Date Financial Results (First Half 2026)

Total Net Sales

Henry Schein, Inc. reported total net sales of $6.8 billion for the first half of 2026, an increase of 6.5% compared to the first half of 2025. This reflects 3.6% internal sales growth, 0.7% sales growth from acquisitions, and a 2.2% increase due to foreign currency exchange.

Operational Metrics (YTD 2026 vs YTD 2025)

• GAAP net income was $201 million, compared to $196 million for the first half of 2025.
• Non-GAAP net income was $298 million, compared to $278 million for the first half of 2025.
• Adjusted EBITDA was $577 million, compared to $515 million for the first half of 2025.
• Gross profit was $2,171 million for YTD 2026, up from $2,016 million for YTD 2025.
• Operating income was $353 million for YTD 2026, compared to $326 million for YTD 2025.
• Operating expenses included Selling, general and administrative expenses of $1,640 million (YTD 2025: $1,516 million), Depreciation and amortization of $137 million (YTD 2025: $126 million), and Restructuring and related costs of $41 million (YTD 2025: $48 million).

Cash Flow (YTD 2026 vs YTD 2025)

• Net cash provided by operating activities was $145 million, compared to $157 million for the first half of 2025.
• Net cash used in investing activities was - $128 million, compared to - $197 million for the first half of 2025.
• Net cash provided by (used in) financing activities was - $48 million, compared to $145 million for the first half of 2025.

Share Repurchases

During the second quarter of 2026, Henry Schein, Inc. repurchased approximately 2.6 million shares of common stock for a total of $200 million at an average price of $76.69 per share. For the year-to-date, the Company repurchased approximately 4.2 million shares for a total of $325 million at an average price of $77.05 per share. As of the end of the quarter, $455 million remained authorized and available for future stock repurchases.

2026 Financial Guidance

Henry Schein, Inc. raised its financial guidance for 2026. The Company now expects non-GAAP diluted EPS to be in the range of $5.29 to $5.39, an increase from the prior guidance of $5.23 to $5.37. Total sales growth for 2026 is projected to be 4.5% to 5.5%, up from the previous range of 3% to 5%, and Adjusted EBITDA growth is anticipated to be in the mid to high-single-digits, compared to prior guidance of mid-single-digits.