Henry Schein Inc.
02/24/2026 | Press release | Distributed by Public on 02/24/2026 05:15
Business/Financial Results (Form 8-K)
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FOR IMMEDIATE RELEASE
HENRY SCHEIN REPORTS FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS
AND INTRODUCES 2026 FINANCIAL GUIDANCE
●
Q4 2025 GAAP diluted EPS of $0.85,compared to $0.74 GAAP diluted EPS in Q4 2024
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Q4 2025 non-GAAP diluted EPS of $1.34,compared to $1.19 non-GAAP diluted EPS in Q4 2024
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2026 non-GAAP diluted EPS expected to be in the range of $5.23to $5.37, with total sales growth expected to
be 3-5%
MELVILLE, N.Y.,February 24, 2026-
Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health
care solutions to office-based dental and medical practitioners, today reportedfinancial results for the fourth quarter ended
December 27, 2025.
"Our fourth-quarter sales reflect continuing momentum resulting inthe highest sales growth in 15 quarters.We are
pleased with the sales results across all our businesses, particularly ourglobal equipment, specialty products and technology
businesses. This drove our strong fourth-quarter earnings which exceeded theincreased 2025 financial guidance we provided
in our third quarter earnings release," said Stanley M. Bergman, Chairman of theBoard and Chief Executive Officer of
Henry Schein.
"The growth we have achieved,especially over the second half of 2025, demonstrates the effective executionof our
2025-2027 BOLD+1 strategic plan, and positions us well for the future. Our 2026financial guidance underscores sustained
growth through continued strong execution of these strategies," addedMr. Bergman. "I am excited that Fred Lowery will join
Henry Schein as our CEO next week and believe that he will lead HenrySchein to even greater success."
Fourth Quarter 2025 Financial Results
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Totalnet sales
for the quarter were $3.4 billion.Total net sales increased 7.7% compared with the fourth quarter of
2024 and reflects 4.9% internal sales growth, 0.9% sales growth from acquisitions,and a 1.9% increase resulting
from foreign currency exchange.Fourth-quarter sales growth is detailed in Exhibit A
1
.
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Global Distribution and Value-Added Services sales
for the quarter increased 7.0%, and by 5.2% in constant
currencies compared with the fourth quarter of 2024. The maincomponents are:
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Global Dental Distribution merchandise sales
for the quarter increased 6.4%, and by 3.7% in constant
currencies, compared with the fourth quarter of 2024, reflecting continuingstrong sales momentum from the
prior quarter.
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Global Dental Distribution equipment sales
for the quarter increased 12.2%, and by 9.1% in constant
currencies, compared with the fourth quarter of 2024, with strong growthparticularly in the U.S., Germany,
Brazil, Canada and Australia.
●
Global Medical Distribution sales
for the quarter increased 4.9%, and by 4.8% in constant currencies,
compared with the fourth quarter of 2024, reflecting good underlying growthin medical products despite
softness in the respiratory product category.
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Global Value-Added Services sales
for the
quarter increased 9.6%, and by 8.5% in constant currencies,
compared with the fourth quarter of 2024,with sales growth driven by consulting services.
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Global Specialty Products sales
for the quarter increased 14.6%, and by 11.1%in constant currencies,compared
with the fourth quarter of 2024,reflecting strong overall dental implant and solid endodontics salesgrowth.
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Global Technology sales
for the quarter increased 8.4%, and by 7.6% in constant currencies, compared withthe
fourth quarter of 2024,reflecting accelerated adoption of cloud-based software and revenue from newlylaunched
solutions.
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GAAP net income
2
for the quarter was $101 million, or $0.85 per diluted share
4
, and compares with fourth-quarter
2024 GAAP net income of $94 million, or $0.74 per diluted share.
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Non-GAAP net income
2
for the quarter was $160 million, or $1.34
per diluted share
4
, and compares with fourth-
quarter 2024 non-GAAP net income of $149 million, or $1.19 per dilutedshare.
●
Adjusted EBITDA
3
for the quarter was $291 million, and compareswith fourth-quarter 2024 Adjusted EBITDA of
$270 million.
Full-YearFinancial Results
●
Totalnet sales
for 2025 were $13.2 billion.Total net sales increased 4.0% compared with 2024 and reflects 2.6%
internal sales growth, 0.9% sales growth from acquisitions, anda 0.5% increase resulting from foreign currency
exchange. Sales growth is detailed in Exhibit A
1
.
●
GAAP net income
2
for 2025 was $398 million, or $3.27 per diluted share
4
, and compares with 2024 GAAP net
income of $390 million, or $3.05 per diluted share.
●
Non-GAAP net income
2
for 2025 was $605 million, or $4.97
per diluted share
4
, and compares with 2024 non-GAAP
net income of $605 million, or $4.74 per diluted share.
●
Adjusted EBITDA
3
for 2025 was $1,101 million and compares with 2024 Adjusted EBITDAof $1,061 million.
Share Repurchases
During the fourth quarter of 2025, the Company repurchased approximately2.8 million shares of common stock at an
average price of $71.10 per share for a total of $200 million.
For the full year 2025, the Company repurchased approximately 12.1million shares of common stock at an average
price of $70.47 per share for a total of $850 million.This includes 3.5 million shares of common stock purchased underthe
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Accelerated Stock Repurchase plan (ASR) which was completed inthe third quarter, at an average price of $71.60 per share
for a total of $250 million.
At year-end, Henry Schein had $780 million authorized and available for future stock repurchases.
2026 Financial Guidance
Henry Schein today provided financial guidance for 2026. Guidanceis for current continuing operations and does not
include the impact of restructuring expenses and related costs, amortizationexpense of acquired intangible assets, the
impairment of intangible assets, changes in contingent consideration, costs associatedwith shareholder advisory matters,
select implementation-related costs supporting value creationinitiatives,and litigation settlements. This guidance also
assumes that foreign currency exchange rates remain generally consistent withcurrent levels.
●
2026 non-GAAP diluted EPS attributable to Henry Schein, Inc.is expected to be $5.23 to $5.37.
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2026 total sales growth is expected to be approximately 3% to 5% over 2025.
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2026 Adjusted EBITDA
3
is expected to grow mid-single digits compared with 2025.
Adjustments to 2026 GAAP Net Income and Diluted EPS
The Company is providing guidance for 2026 diluted EPS and for 2026Adjusted EBITDA on a non-GAAP basis, as
noted above. The Company is not providing a reconciliation of its 2026 non-GAAPdiluted EPS guidance to its projected
2026 diluted EPS prepared on a GAAP basis, or its 2026Adjusted EBITDA guidance to net income prepared on a GAAP
basis. This is because the Company is unable to provide withoutunreasonable effort an estimate of restructuring expenses
and related costs, including its ongoing value-creation initiatives, andthe corresponding tax effect, which will be included in
the Company's 2026 diluted EPS and net income, prepared on a GAAP basis. The inability to provide thisreconciliation is
due to the uncertainty and inherent difficulty of predicting the occurrence, magnitude,financial impact and timing of related
costs.
Management does not believe these items are representative of the Company's underlying business performance.For
the same reasons, the Company is unable to address the probable significanceof the unavailable information, which could be
material to future results.
Fourth-Quarter 2025 Conference Call Webcast
The Company will hold a conference call to discuss fourth-quarter 2025financial results today, beginning at 8:00
a.m. Eastern time. Individual investors are invited to listen to the conferencecall through Henry Schein's website by visiting
https://investor.henryschein.com/webcasts. In addition, a replay will be available beginning shortly after the call hasended
for a period of one week.
The Company will be posting slides that provide a summary of its fourth-quarter2025 financial results on its website at
https://investor.henryschein.com/financials/quarterly-results/.
About Henry Schein, Inc.
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Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health careprofessionals powered by a network of
people and technology. With more than 25,000 TeamSchein Members worldwide, the Company's network of trusted
advisors provides more than 1 million customers globally with morethan 300 valued solutions that help improve operational
success and clinical outcomes. Our Business, Clinical, Technology and Supply Chain solutions help office-based dental and
medical practitioners work more efficiently so they can provide quality care moreeffectively. These solutions also support
dental laboratories, government and institutional health care clinics, as wellas other alternate care sites.
Henry Schein operates through a centralized and automated distributionnetwork, with a selection of more than
300,000 branded products and Henry Schein corporate brand productsin our main distribution centers.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville,
N.Y.,and has operations or affiliates in 34 countries and territories. The Company's sales reached$13.2 billion in 2025, and
have grown at a compound annual rate of approximately 11.0 percent since Henry Schein became a publiccompany in 1995.
For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein,
Instagram.com/HenrySchein,and @HenrySchein on X.
Henry Schein Inc. published this content on February 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on February 24, 2026 at 11:15 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]