EarningsQ2 2026 Earnings Report
DE:HS2 Q2 2026 EPS Results
Actual EPS€1.13
Consensus EPS€1.10
Beat/MissBeat by +€0.03
One Year Ago EPS€0.98
DE:HS2 Q2 2026 Revenue Results
Actual Revenue€3.08B
Expected Revenue€3.00B
Beat/MissBeat by +€74.87M
YoY Revenue Growth+6.73%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
DE:HS2 Upcoming Earnings
Henry Schein's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:HS2 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and financial update: solid top-line growth (6.7%), expanding margins, double-digit non-GAAP EPS growth (15.5%), strong adjusted EBITDA growth (12.7%), and raised full-year guidance. Management reinforced a clear value-creation program with specific savings targets ($125M run-rate by end-2026; $200M+ over time) and early implementation steps producing measurable benefits. Technology and recurring-revenue businesses (Dentrix Ascend / Henry Schein One) showed notable strength and strategic potential. Near-term headwinds include a small decline in U.S. dental equipment, lower point-of-care diagnostic demand, meaningful Q2 restructuring charges ($29M), and reduced remeasurement gains versus prior year, which constrain GAAP clarity and EPS flow-through. Overall, the positive metrics, guidance raise, and credible execution plan outweigh the localized challenges and one-time costs.Company Guidance
Strong Revenue Growth
Global sales of $3.5 billion, up 6.7% year-over-year; internal local currency sales growth of 4.6%, foreign exchange contributed ~1.4% and acquisitions ~0.7%.
Margin and Profit Expansion
GAAP operating margin improved to 4.94% (up 27 bps); non-GAAP operating margin 7.21% (up 25 bps); non-GAAP operating income grew 10.5%.
Earnings Outperformance (Non-GAAP)
Second quarter non-GAAP net income $145 million or $1.27 per diluted share vs. $135 million / $1.10 prior year — non-GAAP EPS growth of 15.5%.
Cash Flow and EBITDA Strength
Adjusted EBITDA of $288 million (up 12.7% vs. prior year); operating cash flow of $242 million in Q2 and management expects operating cash flow to exceed net income for full year.
Raised Full-Year Guidance
2026 total sales growth guidance raised to 4.5%–5.5% (previously 3%–5%); non-GAAP diluted EPS guidance raised to $5.29–$5.39 (growth ~6%–8% vs. 2025 non-GAAP $4.97).
Value Creation Targets on Track
Management reaffirmed goal of at least $200 million in operating income improvements from value creation initiatives over the next few years, with a $125 million run rate expected by end of 2026 and initial benefits starting in Q3.
Segment-Level Momentum and Share Gains
U.S. Dental Merchandise sales up 8.3% (6.5% internal); International Dental Merchandise +11.1% (5.4% internal); Global Technology Group +8.2% (9.1% internal). Management reported market share gains, growth in corporate/own brands (growing ~2x other merchandise), and strong performance in Canada and Europe.
Recurring, High-Margin Technology Business
Henry Schein One continues strong growth: ~13,000 subscribers to Dentrix Ascend/Dentally; ~90% of revenue recurring; average monthly revenue per customer ~ $500 for Henry Schein One and ~ $800 for Dentrix Ascend customers (and growing).
Capital Allocation Actions
Repurchased ~2.6 million shares for $200 million in Q2 at an average $76.69 per share; ~$455 million of repurchase authorization remains.
DE:HS2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed