Henry Schein : Reconciliation of GAAP and Non-GAAP Measures
May 07, 2019 at 08:43 am EDT
Share
Henry Schein, Inc.
First Quarter 2019 Analyst Presentation
Growth Since Going Public
From Continuing Operations
(in millions, except per share data)
Reconciling Items
Tax Reorganizatrion
Charges related to HS
One, Entity Outside
Special Management
U.S., and Animal Health
Transition Tax on
GAAP Basis
Compensation Costs
Litigation Settlement
Restructuring Costs
Spin-Off
Repatriated Earnings
Non-GAAP
1995
2018
CAGR
1995
2018
1995
2018
1995
2018
1995
2018
1995
2018
1995
2018
CAGR
Net Sales
$
583.6
$
9,417.6
13%
$
-
$
-
$
-
$
-
$
-
$
-
$
583.6
$
9,417.6
13%
Operating Income
$
18.3
$
600.6
16%
$
20.8
$
-
$
38.5
$
54.4
$
39.1
$
693.5
13%
Operating Margin
3.14%
6.38%
324
bp
6.70%
7.36%
66 bp
Net Income
$
8.6
$
430.7
19%
$
19.6
$
-
$
28.9
$
40.8
$
(3.6)
$
(10.0)
$
28.2
$
486.8
13%
Diluted EPS
$
0.16
$
2.80
13%
$
0.37
$
-
$
0.19
$
0.27
$
(0.02)
$
(0.07)
$
0.53
$
3.17
8%
Henry Schein, Inc.
First Quarter 2019 Analyst Presentation Full Year 2018 Financial Highlights From Continuing Operations
(in millions, except per share data)
Reconciling Items
Tax Reorganizatrion
Charges related to HS
Loss on Sale of
One, Entity Outside
Equity
U.S., and Animal
Deferred Tax
Transition Tax on
GAAP Basis
Litigation Settlement
Restructuring
Investment
Health Spin-Off
Adjustment
Repatriated Earnings
Total Reconciling Items
Non-GAAP
2017
2018
Growth
2017
2018
2017
2018
2017
2018
2017
2018
2017
2018
2017
2018
2017
2018
2017
2018
Growth
Net Sales
$
8,883.4
$
9,417.6
6.0%
$
-
$
-
$
8,883.4
$
9,417.6
6.0%
Operating Income
$
669.8
$
600.6
-10.3%
$
5.3
$
38.5
$
54.4
$
5.3
$
92.9
$
675.1
$
693.5
2.7%
Operating Margin
7.54%
6.38%
(116)
bp
7.60%
7.36%
(24)
bp
Net Income
$
293.2
$
430.7
46.9%
$
3.2
$
28.9
$
40.8
$
17.6
$
(3.6)
$
3.0
$
140.0
$
(10.0)
$
163.8
$
56.0
$
457.0
$
486.8
6.5%
Diluted EPS
$
1.85
$
2.80
51.4%
$
0.02
$
0.19
$
0.27
$
0.11
$
(0.02)
$
0.02
$
0.88
$
(0.07)
$
1.03
$
0.37
$
2.89
$
3.17
9.7%
Henry Schein, Inc.
First Quarter 2019 Analyst Presentation Q1 2019 - Financial Highlights
From Continuing Operations
(in millions, except per share data)
Reconciling Items
Restructuring Costs (2018 & 2019) , and Tax
GAAP Basis
Credit related to the Animal Health Spin-Off
Non-GAAP
Q1 2018
Q1 2019
Growth
Q1 2018
Q1 2019
Q1 2018
Q1 2019
Growth
Net Sales
$
2,273.5
$
2,360.3
3.8%
$
2,273.5
$
2,360.3
3.8%
Operating Income
$
162.2
$
172.4
6.3%
$
2.7
$
4.6
$
164.9
$
177.1
7.4%
Operating Margin
7.14%
7.31%
17
bp
7.14%
7.31%
17
bp
Operating Margin (1)
7.14%
7.31%
17
bp
7.25%
7.50%
25
bp
Net Income
$
111.5
$
118.4
6.2%
$
2.0
$
2.1
$
113.6
$
120.6
6.2%
Diluted EPS
$
0.72
$
0.78
8.3%
$
0.01
$
0.01
$
0.74
$
0.80
8.1%
(1) Non-GAAP operating margin excludes the impact of restructuring
Henry Schein, Inc.
First Quarter 2019 Analyst Presentation Q1 2019 - Financial Highlights
From Continuing Operations
(in millions, except per share data)
Reconciling Items
GAAP Basis
Restructuring Costs (2018)
Non-GAAP
Q1 2018
Q1 2019
Growth
Q1 2018
Q1 2019
Q1 2018
Q1 2019
Growth
Net Sales
$
2,273.5
$
2,360.3
3.8%
$
-
$
-
$
2,273.5
$
2,360.3
3.8%
Operating Income
$
162.2
$
172.4
6.3%
$
2.7
$
4.6
$
164.9
$
177.1
7.4%
Operating Margin
7.14%
7.31%
17
bp
7.25%
7.50%
25 bp
Henry Schein, Inc.
First Quarter 2019 Analyst Presentation
Operating Income and Margin Highlights
From Continuing Operations
(in millions, except per share data)
GAAP
Reconciling Items
Non-GAAP
2016
2017
2018
Q1 2019
2016
2017
2018
Q1 2019
2016
2017
2018
Q1 2019
Net Sales
$
8,218.9
$
8,883.4
$
9,417.6
$
2,360.3
Net Sales
$
8,218.9
$
8,883.4
$
9,417.6
$
2,360.3
Operating Income
$
591.8
$
669.8
$
600.6
$
172.4
$
38.6
$
5.3
$
92.9
$
4.6
Operating Income
$
630.5
$
675.1
$
693.5
$
177.1
Operating Margin
7.20%
7.54%
6.38%
7.31%
Operating Margin
7.67%
7.60%
7.36%
7.50%
Operating Income Growth %
13%
-10%
Operating Income Growth %
7%
3%
Operating Margin %
7.54%
6.38%
Operating Margin %
7.60%
7.36%
CAGR
1%
CAGR
5%
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original document
Permalink
Disclaimer
Henry Schein Inc. published this content on 07 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 May 2019 12:42:04 UTC
Henry Schein, Inc. specializes in the distribution of care products and services intended for health professionals (doctors, surgeons, dentists, veterinary laboratories and clinics). Net sales break down by activity as follows:
- distribution of health care products and equipment (93.5%): dental products and equipment (65.4% of net sales; consumable products, laboratory equipment, print materials, implants, anesthetics, etc.) and medical equipment (34.6%; medicines, vaccines, vitamins, surgical material, diagnostic tests, etc.);
- other (6.5%): sale and integration of management software, financial, training, maintenance and equipment repair services.
The United States account for 69.9% of net sales.Henry Schein, Inc. specializes in the distribution of care products and services intended for health professionals (doctors, surgeons, dentists, veterinary laboratories and clinics). Net sales break down by activity as follows:
- distribution of health care products and equipment (93.5%): dental products and equipment (65.4% of net sales; consumable products, laboratory equipment, print materials, implants, anesthetics, etc.) and medical equipment (34.6%; medicines, vaccines, vitamins, surgical material, diagnostic tests, etc.);
- other (6.5%): sale and integration of management software, financial, training, maintenance and equipment repair services.
The United States account for 69.9% of net sales.
HENRY SCHEIN, INC. 
