NASDAQ$HSIC

Henry Schein Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Reported record financial results for the second quarter of 2022.

Henry Schein reported a 2.1% increase in net sales, reaching $3.0 billion. GAAP diluted EPS increased to $1.16, compared to $1.10 in the second quarter of 2021. The company reaffirmed its full-year 2022 GAAP diluted EPS guidance range of $4.75 to $4.91.

  • Second-quarter net sales reached $3.0 billion, a 2.1% increase compared to Q2 2021.
  • Internal sales grew by 6.7% in local currencies, excluding PPE and COVID-19 related products.
  • GAAP diluted EPS was $1.16, compared to $1.10 in Q2 2021.
  • The company reaffirmed its full-year 2022 GAAP diluted EPS guidance range of $4.75 to $4.91.

Headline financials

Total Revenue

$3.03B

Previous: $2.97B+2.1%
EPS (adj)

$1.16

Previous: $1.11+4.5%
Free Cash Flow

$160M

Previous: $156M+2.8%
Net Income

$160M

Previous: $156M+2.8%
Operating Income

$220M

Previous: $210M+4.6%
Gross Profit

$945M

Previous: $890M+6.2%
Cash & Equivalents

$108M

Previous: $167M-35.3%
Total Assets

$8.32B

Previous: $8.12B+2.5%
Stock-Based Comp

$15M

Previous: $17.2M-12.6%

Revenue & EPS history

Henry Schein · Revenue · Quarterly

$3.03B

Q2 2022+2.1%vs Q2 2021
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

Henry Schein · $2.85B total across 2 segments · Q2 2022

  • Global Dental
    $1.85B-3.0%
  • Global Medical
    $996M+10.1%

Forward guidance

Henry Schein affirmed its full-year 2022 GAAP diluted EPS guidance range of $4.75 to $4.91 and updated full-year 2022 expected sales growth to be approximately 3% to 6% over 2021.

Tailwinds

  • Affirms guidance for full-year 2022 GAAP diluted EPS attributable to Henry Schein, Inc. of $4.75 to $4.91.
  • Reflects growth of 7% to 10% compared with 2021 GAAP diluted EPS of $4.45
  • Reflects growth of 5% to 9% compared with 2021 non-GAAP diluted EPS of $4.52.
  • Assumes that foreign currency exchange rates will remain generally consistent with current levels
  • Assumes that end markets will remain stable and consistent with current market conditions

Headwinds

  • Updates full-year 2022 expected sales growth to be approximately 3% to 6% over 2021.
  • Reflects adverse effects from foreign exchange rates
  • Reflects a decrease in anticipated sales of PPE and COVID-related products, including COVID-19 test kits.
  • Sales of COVID-19 test kits are now expected to decline 25% to 30% from 2021
  • Assumes that there are no material adverse market changes associated with COVID-19.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

-0.4%

Avg return

Earnings day

-0.5%

Avg return

5 days after

-0.6%

Avg return

30 days after

45%

31 / 69 earnings

Positive

+11.1%

Q4 2021

Best reaction

-8.5%

Q3 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.3%-1.6%+4.6%
Q4 2025+5.8%+2.3%-8.5%
Q3 2025+10.9%+11.2%+13.5%
Q1 2025+2.0%+5.1%+7.8%
Q4 2024-2.3%-7.0%-10.6%
Q3 2024-3.2%-6.0%+0.2%
Q2 2024-5.4%-0.9%+0.4%
Q1 2024+6.2%+7.0%+0.1%
Q4 2023-5.1%-4.6%-6.3%
Q3 2023+7.5%+7.3%+15.5%
Q2 2023-2.8%-1.8%-5.1%
Q1 2023-4.5%-4.2%-6.1%
Q4 2022-6.2%-7.5%-12.8%
Q3 2022+1.8%+6.2%+21.2%
Q2 2022-4.9%-3.8%-7.3%
Q1 2022+7.4%+6.6%+5.6%
Q4 2021+11.1%+10.1%+14.5%
Q3 2021+3.0%+4.5%-6.7%
Q2 2021-4.8%-5.2%-2.3%
Q1 2021+6.6%+8.9%+5.3%
Q4 2020-8.5%-6.5%-5.3%
Q3 2020-5.0%-3.0%+4.6%
Q2 2020-5.3%-4.4%-6.9%
Q1 2020+0.4%+2.9%+20.6%
Q4 2019-8.4%-14.4%-38.9%
Q3 2019+4.4%+4.8%+5.2%
Q2 2019-3.2%-2.3%-4.2%
Q1 2019+8.6%+8.9%+8.6%
Q4 2018-5.0%-5.2%-5.2%
Q3 2018+3.1%+0.8%+3.3%
Q2 2018-0.5%-3.6%+0.5%
Q1 2018-6.1%-4.4%-6.7%
Q4 2017-1.2%-2.1%-5.2%
Q3 2017-8.5%-13.6%-13.0%
Q2 2017-7.7%-7.2%-4.9%
Q1 2017+0.6%+0.3%+5.2%
Q4 2016+2.7%+3.2%+2.0%
Q3 2016+4.6%+6.2%+1.7%
Q2 2016-7.1%-8.4%-8.6%
Q1 2016-2.5%
Q4 2015+7.0%
Q3 2015+1.1%
Q2 2015-1.9%
Q1 2015-0.4%
Q4 2014+0.9%
Q3 2014+5.4%
Q2 2014-1.8%
Q1 2014-1.7%
Q4 2013+0.1%
Q3 2013-2.6%
Q2 2013-0.3%
Q1 2013+2.1%
Q4 2012-2.2%
Q3 2012-0.6%
Q2 2012+1.8%
Q1 2012+2.4%
Q4 2011+3.4%
Q3 2011-6.4%
Q2 2011-2.3%
Q1 2010-2.0%
Q1 2011+0.5%
Q4 2010-3.9%
Q1 2009-3.9%
Q4 2008-3.9%
Q3 2009-4.1%
Q3 2010-4.1%
Q2 2010+2.1%
Q4 2009+2.1%
Q2 2009+2.1%

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