Henry Schein, Inc. (HSIC) Earnings
Henry Schein, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $1.20. HSIC has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise +4.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $1.20 | $1.32 | +10.0% | $3.4B | +0.8% |
| Feb 24, 2026 | $1.30 | $1.34 | +3.1% | $3.4B | +2.8% |
| Nov 4, 2025 | $1.27 | $1.38 | +8.7% | $3.3B | -0.2% |
| Feb 25, 2025 | $1.23 | $1.19 | -3.3% | $3.2B | -3.1% |
| Feb 27, 2024 | $0.70 | $0.66 | -5.7% | $3.0B | -0.6% |
| Nov 13, 2023 | $1.32 | $1.32 | +0.0% | $3.2B | -1.8% |
| Feb 16, 2023 | $1.21 | $1.21 | +0.0% | $3.4B | +0.5% |
| Nov 1, 2022 | $1.14 | $1.09 | -4.4% | $3.1B | -3.9% |
| Aug 2, 2022 | $1.16 | $1.16 | +0.0% | $3.0B | -2.9% |
| May 3, 2022 | $1.19 | $1.30 | +9.2% | $3.2B | +2.5% |
| Feb 15, 2022 | $0.91 | $1.07 | +17.6% | $3.3B | +5.6% |
| Nov 2, 2021 | $0.95 | $1.10 | +15.8% | $3.2B | +8.5% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Fred Lowry highlighted strong competitive advantages, Bold Plus One strategy, excellent customer experience. Mentioned dental market healthy with demand outpacing supply, medical market procedures shifting to non-acute care. Progress on value creation initiatives like centralizing back office, buying out minority partners. Rolled out global e-commerce platform. Ron South reviewed financial highlights, sales drivers by segment, restructuring expenses, capital deployment, cash flow, and 2026 guidance.
Guidance
2026 guidance for current continuing operations without restructuring costs. Assumes stable dental and medical end markets, consistent foreign currency exchange, mitigated tariffs and oil price effects. Total sales growth 3-5% over 2025. Non-GAAP diluted EPS $5.23-$5.37, estimated tax rate 24%. Adjusted EBITDA mid single-digit growth vs 2025. Remeasurement gains in 2026 less than 2025.
Segment performance
Global sales were $3.4 billion, with 6.3% growth compared to Q1 2025. Global distribution and value-added services group sales grew 6.1%. U.S. dental merchandise sales grew 5.6%, equipment sales 3.4%, medical distribution 1.3%. International dental merchandise 12.5%, equipment 13.4%. Global specialty products group sales grew 8.1%. Global technology group sales grew 7.0%. GAAP operating margin 5.41%, non-GAAP 7.53%. GAAP net income $107 million, non-GAAP $153 million. Adjusted EBITDA $289 million, up 11.6% from Q1 2025.
Analyst Q&A
Q: About gross margin drivers and mitigation of rising shipping costs.
A: Fred and Ron discussed gross margin improvements from value creation, strategic pricing, own brand growth. Mitigation efforts include working with customers, offering alternatives, and assuming ability to mitigate oil price impacts.
Q: Cadence of specialty growth and positives/surprises.
A: Ron said specialty growth in line with expectations, Fred mentioned positives like customer importance of assets, Team Shine feedback, customer and supplier satisfaction.
Q: Building earnings growth without restructurings.
A: Jeff said value creation is ongoing, continuous improvement process to streamline processes, high-growth high-margin products approaching 50% operating income.
Q: Mitigation efforts and customer relationships.
A: Fred said taking appropriate pricing actions, having direct conversations, offering alternatives.
Q: Implants growth dynamics.
A: Joe said value implants had high single-digit growth, premium flat to down in U.S. and Europe.
Q: Dental share gains sources and sustainability.
A: Ron said own brand growth, promotional activity, retained customers.
Q: DSOs share gains drivers.
A: Fred said DSOs benefit from strong national support, efficiency, technology.
Q: Quarter sequential performance.
A: Fred said sequentially better, March stronger than February, April continues strong.
Q: Cost savings cadence and remeasurement.
A: Kevin John Dombkowski said savings accelerate in back half, remeasurement gains expected less than 2025.
Q: Medical supply impacts from ACA/Medicaid.
A: Fred said no material impact.
Q: Digital equipment demand.
A: Fred said good demand for intraoral scanners, lower prices driving demand, traditional equipment growth healthy.