November 4, 2025- Henry Schein, Inc. reported financial results for the third quarter ended September 27, 2025. “We are pleased with our financial results for the third quarter, with sales growth accelerating in each of our reportable segments including solid market share gains in our distribution businesses as we are once again focused on driving growth now that the cyber incident is fully behind us. This strong sales performance was a key driver of the underlying improvement in our operating income,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Our successful execution of the BOLD+1 strategy, including the financial performance of our investments in high-growth, high-margin businesses, set the foundation for strong future growth.”
“With continued input from KKR, we have made good progress on advancing the value creation initiatives we announced last quarter. Based on our first phase of work, we believe we have the opportunity to deliver over $200 million of improvements to operating income over the next few years,” Mr. Bergman said. “In addition, our board has approved an amendment to the Strategic Partnership Agreement giving KKR the right to increase its HSIC stock ownership up to 19.9%.”
Third Quarter 2025 Financial Results
- Total net sales for the quarter were $3.3 billion. As-reported total net sales increased 5.2% compared with the third quarter of 2024 and reflects 3.3% internal sales growth, 0.7% sales growth from acquisitions, and a 1.2% increase resulting from foreign currency exchange. Third-quarter sales growth is detailed in Exhibit A .
- Global Distribution and Value-Added Services sales for the quarter increased 4.8%, and by 3.7% in constant currencies compared with the third quarter of 2024. The main components are:
- Global Medical Distribution sales for the quarter increased 4.7%, and by 4.6% in constant currencies, compared with the third quarter of 2024, reflecting good underlying growth in medical products, pharmaceuticals, and the Home Solutions business.
- Global Value-added Services sales for thenquarter increased 3.3%, and by 2.9% in constant currencies, compared with the third quarter of 2024, with sales growth driven by consulting services.