Henry Schein Q1 Sales Rise 6.3% to $3.4B, EBITDA $289M
HSIC•Henry Schein reported Q1 net sales of $3.4 billion, up 6.3% year-over-year driven by 2.5% internal growth and currency tailwinds. Non-GAAP net income rose to $153 million ($1.32 per share), adjusted EBITDA climbed to $289 million, and the company repurchased $125 million of stock while reaffirming 2026 guidance.
1. First Quarter Financial Highlights
Henry Schein posted Q1 2026 net sales of $3.4 billion, marking a 6.3% annual increase. GAAP net income reached $107 million ($0.92 per diluted share), while non-GAAP net income rose to $153 million ($1.32 per diluted share), and adjusted EBITDA climbed to $289 million.
2. Segment Growth Breakdown
Global Dental Distribution merchandise sales increased 9.0% with 3.0% internal growth, equipment sales rose 8.6% with 3.5% internal expansion, Global Medical Distribution grew 1.7%, and Global Value-Added Services jumped 10.6%, driven by 7.8% internal growth.
3. Strategic Initiatives and Guidance
CEO Fred Lowery reiterated commitment to achieving over $200 million in annual operating income improvement, targeting a $125 million run-rate by year-end 2026. The company reaffirmed full-year 2026 guidance, expecting high-single to low-double digit earnings growth.
4. Share Repurchases and Acquisition
During Q1, Henry Schein repurchased approximately 1.6 million shares for $125 million at an average price of $77.64, leaving $655 million available for future repurchases. The company also acquired a controlling stake in its U.S. S.I.N. distributor, recording an $11 million remeasurement gain.
