August 7, 2024- Henry Schein reported financial results for the second quarter ended June 29, 2024. According to Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, “we delivered solid second quarter financial results, including strong operating cash flow, that reflected stable end markets. Gross margin continued to increase, driven by our strategies to expand our high-growth, high-margin products and services and by the successful performance of our recent acquisitions. We are experiencing improving sales trends in our distribution businesses, however, the pace of recovery in these businesses since the cyber incident late last year has been slower than anticipated.”
Second-Quarter 2024 Financial Results
- Total net sales for the quarter were $3.1 billion, an increase of 1.1% compared with the second quarter of 2023. This reflects 4.0% sales growth from acquisitions, a 0.5% sales decrease resulting from foreign exchange rates, a 0.5% sales decrease from lower sales of personal protective equipment (PPE), primarily the result of lower glove pricing, and the pace of recovery from the cyber incident late last year.
- Internal sales for the quarter decreased 2.4%, which includes a 0.5% decrease from lower PPE sales.