Henry Schein Q2 2021 Earnings Report
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.
Henry Schein
Henry Schein
Henry Schein Revenue by Segment
Henry Schein 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.
- Guidance assumes no material adverse market changes associated with COVID-19.
- Guidance does not include the impact of potential future acquisitions, if any
- Guidance does not include the impact of restructuring expenses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income