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Mar 27, 2021
Henry Schein Q1 2021 Earnings Report
Henry Schein reported record financial results for the first quarter of 2021, driven by strong sales growth across all segments.
Key Takeaways
Henry Schein reported record first-quarter financial results from continuing operations, with total net sales of $2.9 billion, a 20.4% increase compared to the first quarter of 2020. GAAP diluted EPS from continuing operations was $1.16, and non-GAAP diluted EPS from continuing operations was $1.24. The company raised its guidance for 2021 non-GAAP diluted EPS to be at or above $3.70.
Total net sales increased by 20.4% to $2.9 billion compared to the prior year.
GAAP diluted EPS from continuing operations was $1.16, up from $0.91 in the prior year.
Non-GAAP diluted EPS from continuing operations was $1.24, compared to $0.94 in the prior year.
The company raised its 2021 non-GAAP diluted EPS guidance to at or above $3.70.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Henry Schein raised guidance for 2021 non-GAAP diluted EPS from continuing operations to be at or above $3.70.
Positive Outlook
- 2021 non-GAAP diluted EPS from continuing operations attributable to Henry Schein, Inc. is expected to be at or above $3.70, representing a floor for fiscal 2021.
- Guidance for 2021 non-GAAP diluted EPS attributable to Henry Schein, Inc. is for current continuing operations as well as completed or previously announced acquisitions.
- Guidance does not include the impact of future share repurchases.
- Guidance does not include potential future acquisitions, if any, or restructuring expenses.
- Guidance assumes foreign exchange rates that are generally consistent with current levels, and that end markets remain stable and are consistent with current market conditions.
Challenges Ahead
- At this time, the Company is not providing guidance for 2021 GAAP diluted EPS from continuing operations as it is unable to provide an accurate estimate of expenses related to the ongoing restructuring initiative.
- Guidance does not assume any material adverse market changes associated with COVID-19.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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