Henry Schein Q2 2026 Earnings Call: Complete Transcript

Henry Schein (NASDAQ: HSIC ) reported second-quarter financial results on Tuesday.

The transcript from the company's second-quarter earnings call has been provided below.

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Access the full call at Summary Henry Schein delivered strong financial results in Q2 2026, with global sales up 6.7% to $3.5 billion, and non-GAAP earnings per share increasing by 15.5%.

The company raised its full-year 2026 guidance, expecting total sales growth of 4.5% to 5.5% and non-GAAP EPS growth of 6% to 8%, driven by strong internal local currency sales and margin improvements.

Strategic initiatives, including advancing Henry Schein One technology platforms and optimizing the portfolio, are contributing to growth, with a focus on AI-enabled solutions and expanding the medical business.

Operational rigor is emphasized, with a commitment to delivering $200 million in operating income improvements from value creation initiatives over the next few years.

Management remains optimistic about capturing market share, particularly in the dental and specialty products markets, and is committed to driving long-term shareholder value through disciplined execution.

Full Transcript Graham, Investor Relations May affect the matters referred to in forward-looking statements and the Company's performance may materially differ from those expressed in or indicated by such statements.

These forward-looking statements are qualified in their entirety by the cautionary statements contained in Henry Schein's filings with the Securities and Exchange Commission and included in the Risk Factors section of those filings.

In addition, all comments about the markets we serve, including end market growth rates and market share, are based upon the Company's internal analyses and estimates.

Today's remarks will include both GAAP and non-GAAP financial results.

We believe the non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable the comparison of financial results between periods where certain items may vary independently of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business.

These non-GAAP financial measures are presented solely for informational and comparative purposes and should not be regarded as a replacement for corresponding GAAP measures.

Reconciliations between GAAP and non-GAAP measures are included in Exhibit B of today's press release and can be found in the Financials and Filing section of our Investor Relations website under the Supplemental Information heading and also in our quarterly earnings presentation, also posted on our Investor Relations website.

The content of this conference call contains time sensitive information that is accurate only as of the date of the live broadcast, August 4, 2026.

Henry Schein undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call.

Lastly, during today's Q&A session, please limit yourself to a single question so that we can accommodate questions for as many of you as possible.

And with that I'd like to turn the call over to Fred Lowry.

Fred Lowery, Chief Executive Officer Thank you, Graham.

Good morning, everyone, and thank you for joining us.

I'm very excited to share our results with you today, so let's dive right in.

We delivered strong sales performance and margin improvement in the second quarter driven by sustained momentum across our businesses and solid operational execution by the team.

Internal local currency sales growth accelerated compared to the first quarter.

This acceleration, combined with the strong gross margins and the early benefits from value creation initiatives drove strong earnings growth.

Our first half performance and the sustained momentum have positioned us to raise our full year 2026 guidance.

Ron will provide more details later in the call.

Before we get into more detail on the quarter, I want to share some feedback from various stakeholders I've met in my first months here at Henry Schein and also some of my thoughts on why I'm confident in our opportunities ahead to accelerate growth.

Our customers value the range of products and the integrated technology solutions we offer to support the growing complexity of operating a healthcare practice and they see Henry Schein as a reliable business partner due to our consistent execution, our product quality, and our responsiveness.

Our supplier partners also recognize our deep customer relationships and they want to do more business with us and our growth helps ensure we remain their partner of choice.

In addition to customers and suppliers, I spent a lot of time talking with employees and shareholders who are optimistic about our plans to improve, including making decisions faster, simplifying how we operate and executing more consistently for the benefit of our customers.

Henry Schein has great assets and capabilities and our customer reach is really unmatched.

What's exciting is that after my first few months at the company, I have an increased conviction that there's significant opportunity to improve our revenue growth and improve our profitability and ultimately become the platform to help healthcare practitioners operate a better practice.

So as we sharpen our focus, our priorities ahead are accelerating growth, simplifying our business, driving operational rigor, and further deepening our customer relationships, all of which we believe will create sustainable shareholder value.

With respect to accelerating growth, we're already pursuing several key initiatives to do more for our customers and these initiatives are beginning to pay off.