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Dec 28, 2019
Henry Schein Q4 2019 Earnings Report
Reported record Q4 2019 financial results from continuing operations.
Key Takeaways
Henry Schein reported a 7.9% increase in net sales from continuing operations, reaching $2.7 billion. GAAP diluted EPS was $2.25, up 192.2% year-over-year, while non-GAAP diluted EPS was $0.97, a 9.0% increase. The company affirms its 2020 non-GAAP diluted EPS guidance of $3.65 to $3.75.
GAAP diluted EPS from continuing operations increased by 192.2% year-over-year to $2.25, driven by a net gain on the sale of equity investments.
Non-GAAP diluted EPS from continuing operations grew by 9.0% year-over-year to $0.97.
Net sales from continuing operations rose by 7.9% to $2.7 billion, with 8.9% growth in local currencies.
The company repurchased approximately 2.9 million shares of its common stock during the fourth quarter for $200 million.
Henry Schein
Henry Schein
Henry Schein Revenue by Segment
Henry Schein Revenue by Geographic Location
Revenue by Segment
Global Dental Revenue
CapyFin.comGlobal Medical Revenue
CapyFin.comRevenue by Geographic Location
U.S. Distribution and Value-Added Services Revenue
CapyFin.comInternational Distribution and Value-Added Services Revenue
CapyFin.com Forward Guidance
Henry Schein affirmed 2020 non-GAAP diluted EPS guidance of $3.65 to $3.75, reflecting growth of 4% to 7% compared with 2019.
Positive Outlook
- 2020 non-GAAP diluted EPS from continuing operations attributable to Henry Schein, Inc. is expected to be $3.65 to $3.75.
- Guidance assumes no significant supply chain disruption related to the Novel Coronavirus Disease 2019 (COVID-19) for certain infection control products.
- Guidance is for current continuing operations as well as completed or previously announced acquisitions.
- Guidance does not include the impact of potential future acquisitions, if any, and 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
- Company is not providing 2020 GAAP diluted EPS guidance.
- Unable to provide an accurate estimate of expenses related to a planned restructuring.
- Restructuring is intended to mitigate stranded costs associated with the spin-off of its Animal Health business.
- Restructuring is intended to drive operating efficiencies.
- Inability to provide these reconciliations is due to the uncertainty and inherent difficulty of predicting the occurrence, the financial impact, and the periods in which the non-GAAP adjustments may be recognized.
Revenue & Expenses
Visualization of income flow from segment revenue to net income