The raised guidance and accelerating internal sales growth (4.6% vs 2.5% in Q1) confirm improving operational momentum. Watch for continued execution on value creation initiatives targeting $125M run-rate by year-end and potential further upside to guidance if trends persist.
Price Chart
Executive Summary
Henry Schein reported Q2 2026 non-GAAP EPS of $1.27, beating consensus of $1.24 by 2.5%, and revenue of $3.46B, beating $3.37B by 2.6%. The company raised its FY2026 guidance across all metrics: non-GAAP EPS to $5.29-$5.39 (from $5.23-$5.37), sales growth to 4.5%-5.5% (from 3%-5%), and Adjusted EBITDA growth to mid-to-high single digits. Internal sales growth accelerated to 4.6% from 2.5% in Q1, and the company repurchased $200M in stock during the quarter.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $3.458B, +6.7% YoY (4.6% internal growth)
- Non-GAAP diluted EPS $1.27 vs $1.10 YoY, +15.5%
- GAAP diluted EPS $0.82 vs $0.70 YoY, +17.1%
- Adjusted EBITDA $288M vs $256M YoY, +12.5%
- Raised FY2026 non-GAAP EPS guidance to $5.29-$5.39 (prior $5.23-$5.37)
- Raised FY2026 sales growth guidance to 4.5%-5.5% (prior 3%-5%)
- Raised FY2026 Adjusted EBITDA growth to mid-to-high single digits (prior mid-single digits)
- Repurchased 2.6M shares for $200M in Q2; $325M YTD; $455M remaining authorization
- Operating cash flow $242M in Q2; free cash flow ~$196M after capex
Financial Impact
Non-GAAP EPS beat consensus by $0.03 (2.5%); revenue beat by $88M (2.6%); guidance raised modestly across all metrics
Risk Factors
- Execution risk on restructuring and value creation initiatives
- Tariff exposure and supply chain disruption
- Competitive pressures in dental and medical distribution
- Foreign currency headwinds (1.4% FX benefit in Q2)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001000228-26-000043 |
| Document: hsic-20260804.htm | 0001000228-26-000043 |
| Document: 0001000228-26-000043-index-headers.html | 0001000228-26-000043 |
| Document: 0001000228-26-000043-index.html | 0001000228-26-000043 |
| Document: 0001000228-26-000043.txt | 0001000228-26-000043 |
| 8-K Data (Synthetic) | 0001000228-26-000043 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | 8-K | $89.11 $88.52 | ▼ −0.66% | ▲ +0.58% | $84.73 (−4.92%) |
Aug 4, 2026 8w ago | Institutional Cluster | $89.11 $88.52 | ▼ −0.66% | ▲ +0.58% | $84.73 (−4.92%) |
Jul 30, 2026 9w ago | 8-K | $85.17 $90.28 | ▲ +6.00% | ▲ +2.03% | $84.73 (−0.52%) |
Jun 11, 2026 16w ago | Institutional Cluster | $81.25 $84.40 | ▲ +3.88% | ▲ +2.10% | $84.73 (+4.28%) |
May 22, 2026 19w ago | 8-K | $74.21 $79.03 | ▲ +6.49% | ▲ +7.91% | $84.73 (+14.18%) |
May 12, 2026 20w ago | DEFA14A | $69.35 $78.85 | ▲ +13.70% | ▲ +15.43% | $84.73 (+22.18%) |
Apr 8, 2026 25w ago | DEFA14A | $75.53 $74.37 | ▼ −1.54% | ▼ −10.08% | $84.73 (+12.18%) |
Mar 2, 2026 30w ago | Insider Cluster | $81.37 $72.70 | ▼ −10.65% | ▼ −2.72% | $84.73 (+4.13%) |
Mar 2, 2026 30w ago | Insider Cluster | $81.37 $72.70 | ▼ −10.65% | ▼ −2.72% | $84.73 (+4.13%) |
Mar 2, 2026 30w ago | Insider Cluster | $81.37 $72.70 | ▼ −10.65% | ▼ −2.72% | $84.73 (+4.13%) |
US Market Status
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