Henry Schein (HSIC) Q3 2026 earnings summary

Executive summary

• Q3 net sales were $3.471B, up 4.0% reported; internal growth was 3.1%.

• Adjusted non-GAAP diluted EPS, excluding Q3 tariff refunds and prior-year remeasurement gains, rose 19.1% to $1.37.

• FY2026 non-GAAP EPS guidance increased to $5.50–$5.56; sales growth guidance remained 4.5%–5.5%.

Financial highlights

• GAAP net income was $119M versus $101M; diluted EPS was $1.06 versus $0.84.

• Non-GAAP net income was $175M versus $167M; diluted EPS was $1.56 versus $1.38, up 13.0%.

• Gross profit was $1.105B, up 7.7%; non-GAAP gross margin was 31.83%, up 111 bps.

• Non-GAAP operating income rose 6.6% to $279M; operating margin was 8.03%, up 20 bps.

• Adjusted EBITDA increased 8.7% to $321M; Q3 operating cash flow was $161M.

Outlook and guidance

• FY2026 non-GAAP diluted EPS guidance rose from $5.29–$5.39 to $5.50–$5.56; adjusted EBITDA growth guidance is high-single-digit.

• Guidance reflects Q3 tariff-refund benefits, improved underlying performance and targeted, limited Q4 growth investments; no significant further tariff refunds or remeasurement gains are assumed.

• Guidance assumes FX rates generally consistent with current levels and an effective non-GAAP tax rate of ~24%.

• No GAAP guidance was issued because restructuring and related costs could not be estimated without unreasonable effort.