Henry Schein reported strong fourth-quarter results with the highest sales growth in 15 quarters, driven by broad-based performance across its businesses and effective execution of its strategic plan. The company is well-positioned for sustained growth in 2026, as indicated by its positive financial guidance.
Total net sales increased 7.7% to $3.4 billion in Q4 2025, marking the highest sales growth in 15 quarters.
positiveGlobal Specialty Products sales increased 14.6% (11.1% in constant currencies) driven by strong dental implant and endodontics sales.
positiveGlobal Technology sales increased 8.4% (7.6% in constant currencies), reflecting accelerated adoption of cloud-based software.
positiveQ4 2025 non-GAAP diluted EPS of $1.34, an increase from $1.19 in Q4 2024.
positiveGlobal Medical Distribution sales increased only 4.9% (4.8% in constant currencies) despite overall growth, with softness noted in the respiratory product category.
attentionFull-year 2025 GAAP net income was $398 million, a modest increase of 2.2% from $390 million in 2024, while diluted EPS grew 7.2%.
attentionFull-year 2025 non-GAAP net income was flat at $605 million compared to 2024, with non-GAAP diluted EPS growing 4.9%.
attentionRestructuring and related costs were $105 million for full-year 2025, compared to $110 million in 2024.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
U.S. Distribution and Value-Added Services | N/A | — | — | — | +2.9% |
International Distribution and Value-Added Services | N/A | — | — | — | +3.3% |
Global Specialty Products | N/A | — | — | — | +5.7% |
Global Technology | N/A | — | — | — | +6.7% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Our fourth-quarter sales reflect continuing momentum resulting in the highest sales growth in 15 quarters.
We are pleased with the sales results across all our businesses, particularly our global equipment, specialty products and technology businesses.
This drove our strong fourth-quarter earnings which exceeded the increased 2025 financial guidance we provided in our third quarter earnings release.
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