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Henry Schein (HSIC) investor relations material
Henry Schein Bank of America Global Healthcare Conference 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Macro environment and market trends
Patient traffic in dental has remained stable, with potential for equipment sales growth if US interest rates continue to decline.
Lower interest rates may accelerate new dental practice buildouts, especially by DSOs backed by private equity, expanding the merchandise market.
International business, particularly in Mainland Europe, is showing a slight upward trajectory as energy price impacts have normalized.
Sales initiatives and customer engagement
Promotional activities in Q2 led to sales growth in July, targeting low-volume customers with commitment-based rebates.
Field sales consultant additions have been consistent, with new hires expected to reach full productivity within 12 months.
Engagement strategies focus on helping practices improve profitability beyond just product pricing, aiming for increased customer retention and market share.
Financial outlook and cost optimization
Achieving 8%+ EPS growth in 2026 depends on macro factors (interest rates, unemployment, market growth) and internal cost-saving projects.
Value creation projects are incremental to previous restructuring, focusing on cross-business resource sharing and potential offshoring.
Expectation to provide a range of long-term savings from these projects in future updates.
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