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Jun 26, 2021
Henry Schein Q2 2021 Earnings Report
Henry Schein's Q2 2021 earnings were marked by record financial results, driven by strong demand in dental and medical markets.
Key Takeaways
Henry Schein reported record second-quarter financial results from continuing operations, with total net sales of $3.0 billion, up 76.2% compared to the prior year and up 21.2% versus 2019. GAAP diluted EPS was $1.10, and non-GAAP diluted EPS was $1.11. The company raised its guidance for 2021 non-GAAP diluted EPS to be at or above $3.85.
Total net sales reached $3.0 billion, a 76.2% increase versus the prior year and a 21.2% increase versus 2019.
GAAP diluted EPS from continuing operations was $1.10, compared to a prior-year GAAP loss per diluted share of $0.08.
Non-GAAP diluted EPS from continuing operations was $1.11, versus $0.00 in the prior year.
The company raised its 2021 non-GAAP diluted EPS guidance to be at or above $3.85.
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 $3.85, representing a floor for fiscal 2021.
Positive Outlook
- 2021 non-GAAP diluted EPS from continuing operations attributable to Henry Schein, Inc. is now expected to be at or above $3.85, representing a floor for fiscal 2021.
- This compares with previous guidance for non-GAAP diluted EPS from continuing operations attributable to Henry Schein, Inc. to be at or above $3.70.
- 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, potential future acquisitions, if any, or restructuring expenses.
- Guidance also 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
- The Company is not providing guidance for 2021 GAAP diluted EPS from continuing operations
- The company is unable to provide without unreasonable effort an estimate of costs related to an ongoing restructuring initiative, including the corresponding tax effect.
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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