Henry Schein posts transcript of Q1 2026 earnings call

• Henry Schein first-quarter 2026 earnings call drew CEO Frederick Lowery, CFO Ronald South, IR VP Graham Stanley, analysts from Piper Sandler, Evercore, Baird, Leerink, Stifel, Citi, Bank of America, JPMorgan, Barclays, UBS, Jefferies, William Blair.
• Quarter sales reached USD 3.4 billion, up 6.3%, with non-GAAP operating margin 7.53% up 28 bps; non-GAAP EPS USD 1.32, helped by USD 0.03 FX tailwind.
• Full-year outlook stayed intact at sales growth 3% to 5% with non-GAAP EPS USD 5.23 to USD 5.37; guidance assumed stable end markets with ability to mitigate tariff effects, higher oil, freight pressures.
• Value-creation plan reiterated at more than USD 200 million annual operating income improvement within next few years, targeting USD 125 million run-rate by end of 2026; early gross margin lift tied to more dynamic pricing and faster growth in higher-margin corporate brands.
• Transaction gave controlling interest in S.I.N. 360 US distributor, triggering USD 11 million remeasurement gain, about USD 0.07 per diluted share; management flagged potential for more joint-venture consolidations, with any additional gains not expected until second half of 2026.

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