Henry Schein, Inc.

Third 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

Special Management

One, Entity Outside

Transition Tax on

U.S., and Animal Health

GAAP Basis

Compensation Costs

Litigation Settlement

Restructuring Costs

Spin-Off

Repatriated Earnings

Non-GAAP

Net Sales

1995

2018

CAGR

1995

2018

1995

2018

1995

2018

1995

2018

1995

2018

1995

2018

CAGR

$

583.6

$

9,417.6

13%

$

-

$

-

$

-

$

-

$

-

$

-

$

583.6

$

9,417.6

13%

Operating Income

$

(2.5)

$

600.6

-227%

$

20.8

$

-

$

38.5

$

54.4

$

18.3

$

693.5

17%

Operating Margin

-0.43%

6.38%

681

bp

3.13%

7.36%

423 bp

Net Income

$

(11.0)

$

430.7

-217%

$

19.6

$

-

$

28.9

$

40.8

$

(3.6)

$

(10.0)

$

8.6

$

486.8

19%

Diluted EPS

$

(0.21)

$

2.80

-212%

$

0.37

$

-

$

0.19

$

0.27

$

(0.02)

$

(0.07)

$

0.16

$

3.17

14%

Henry Schein, Inc.

Third 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

Net Sales

2017

2018

Growth

2017

2018

2017

2018

2017

2018

2017

2018

2017

2018

2017

2018

2017

2018

2017

2018

Growth

$

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.

Third Quarter 2019 Analyst Presentation Q3 2019 - Financial Highlights

From Continuing Operations

(in millions, except per share data)

Reconciling Items

2019-Restructuring, and Tax Credit related to

the Animal Health Spin-Off

2018-Restructuring, Litigation Settlements,

One Time Tax on Reorganization Related to

HS One, and Transitional Tax on Repatriated

GAAP Basis

Foreign Earnings

Non-GAAP

Net Sales

Q3 2018

Q3 2019

Growth

Q3 2018

Q3 2019

Q3 2018

Q3 2019

Growth

$

2,355.6

$

2,508.8

6.5%

$

2,355.6

$

2,508.8

6.5%

Operating Income

$

123.3

$

187.2

51.9%

$

47.0

$

(0.8)

$

170.3

$

186.4

9.4%

Operating Margin (1)

5.23%

7.46%

223

bp

7.23%

7.43%

20 bp

Net Income

$

90.8

$

134.9

48.6%

$

29.2

$

(0.6)

$

120.0

$

134.3

12.0%

Diluted EPS

$

0.59

$

0.91

54.2%

$

0.19

$

(0.01)

$

0.78

$

0.90

15.4%

  1. A The impact from acquisitions and acquisition related expenses this quarter on non-GAAP operating margin was a gain of 12 basis points. Excluding this impact, our Q3 2019 non-GAAP operating margin would have increased by 8 basis points.

Henry Schein, Inc.

Third Quarter 2019 Analyst Presentation Q3 2019 - Financial Highlights

From Continuing Operations

(in millions, except per share data)

Reconciling Items

2019-Restructuring, and Tax Credit related to

the Animal Health Spin-Off

2018-Restructuring, Litigation Settlements,

One Time Tax on Reorganization Related to

HS One, and Transitional Tax on Repatriated

GAAP Basis

Foreign Earnings

Non-GAAP

Net Sales

Q3 2018

Q3 2019

Growth

Q3 2018

Q3 2019

Q3 2018

Q3 2019

Growth

$

2,355.6

$

2,508.8

6.5%

$

-

$

-

$

2,355.6

$

2,508.8

6.5%

Operating Income

$

123.3

$

187.2

51.9%

$

47.0

$

(0.8)

$

170.3

$

186.4

9.4%

Operating Margin

5.23%

7.46%

223

bp

7.23%

7.43%

20 bp

Henry Schein, Inc.

Third Quarter 2019 Analyst Presentation

Operating Income and Margin Highlights

From Continuing Operations

(in millions, except per share data)

GAAP

Reconciling Items

Non-GAAP

Net Sales

2016

2017

2018

Q3 2019

2016

2017

2018

Q3 2019

Net Sales

2016

2017

2018

Q3 2019

$

8,218.9

$

8,883.4

$

9,417.6

$

2,508.8

$

8,218.9

$

8,883.4

$

9,417.6

$

2,508.8

Operating Income

$

591.8

$

669.8

$

600.6

$

187.2

$

38.6

$

5.3

$

92.9

$

(0.8)

Operating Income

$

630.5

$

675.1

$

693.5

$

186.4

Operating Margin

7.20%

7.54%

6.38%

7.46%

Operating Margin

7.67%

7.60%

7.36%

7.43%

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%

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Henry Schein Inc. published this content on 05 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2019 13:49:05 UTC