Henry Schein 2026 Q2: Global Dental Distribution Business Revenue Reaches $1.854 Billion, Up 8.1% Year-Over-Year

Source: Henry Schein Q2 2026 Financial Report

Q2 2026 Revenue $3.458 Billion / Global Dental Distribution Q2 Revenue Up 8.1% YoY / Dental Consumables Revenue Up 9.7% YoY

DentalGoodNews｜August 4, 2026 - Henry Schein, Inc. released its second quarter 2026 financial results. The company reported total revenue of $3.458 billion (approximately RMB 24.898 billion) for the second quarter, up 6.7% year-over-year; net income attributable to shareholders was $94 million (approximately RMB 677 million), up 9.1% year-over-year.

For the first half of 2026, Henry Schein achieved cumulative total revenue of $6.826 billion (approximately RMB 49.147 billion), up 6.5% year-over-year; cumulative net income attributable to shareholders for the first half was $201 million (approximately RMB 1.447 billion), up 2.7% from $196 million in the same period last year.

Based on first-half sales performance, the company raised its full-year 2026 guidance, increasing non-GAAP diluted EPS expectations from $5.23-$5.37 to $5.29-$5.39, while raising full-year sales growth expectations from 3%-5% to 4.5%-5.5%. Henry Schein CEO Fred Lowery stated during the earnings call that the company's near-term priorities will focus on accelerating growth, simplifying operations, improving operational efficiency, and deepening customer relationships.

Source: Henry Schein Q2 2026 Financial Report

In core business performance, the Global Dental Distribution segment generated revenue of $1.854 billion in the second quarter, up 8.1% year-over-year. Among this, dental consumables revenue grew 9.7% year-over-year (internal growth of 5.9%); dental equipment revenue grew 3.8% year-over-year (internal growth of 2.2%). According to previous reports by DGN, Henry Schein's first quarter 2026 Global Dental Distribution revenue was $1.766 billion.

Henry Schein CFO Ronald N. South stated during the earnings call that consumables growth was driven by combined contributions from pricing and volume, with U.S. consumables sales continuing to accelerate; equipment faced headwinds due to the high base effect from large dental school orders in the prior-year period, but the digital equipment category continued to grow, and the company expects dental equipment to return to growth in the second half of the year.

Source: Henry Schein Q2 2026 Financial Report

In the medical distribution segment, second quarter revenue was $1.057 billion, up 4.0% year-over-year. Global specialty products and global technology businesses achieved sales growth of 8.7% and 8.2%, respectively, with internal growth rates of 3.2% and 9.1%, respectively. Henry Schein CFO Ronald N. South stated during the earnings call that specialty products growth was primarily driven by the European market: premium dental implant brand Camlog continued its growth trajectory, while the U.S. market was mainly driven by the S.I.N. 360 implant system.

In technology, Henry Schein's Henry Schein One cloud-based dental practice management platforms, Dentrix Ascend and Dentally, have reached nearly 13,000 subscription customers. CEO Fred Lowery stated that Dentrix Ascend customers generate average monthly revenue of approximately $800, higher than the approximately $500 average across Henry Schein One's overall customer base, with roughly 90% of Henry Schein One revenue currently derived from recurring revenue. Additionally, the company announced plans to launch an MCP (Model Context Protocol) layer, enabling dental practices to query their own operational data through AI applications and agents to identify revenue opportunities and improve operational efficiency.

Source: Henry Schein Q2 2026 Financial Report

Regarding the value creation program, the company recorded restructuring and related costs of $29 million (approximately $0.18 per diluted share) in the quarter. CFO Ronald N. South stated that the company has selected global outsourcing providers to support finance and customer service functions, with phase one implementation initiated in U.S. operations, and expects labor cost benefits to begin in the third quarter. This project is expected to contribute more than half of the administrative expense savings target; the company has also established a procurement office to consolidate indirect purchasing spend and is leveraging sales data to optimize pricing. Additionally, the company maintains its full-year target of over $200 million in operating income improvements, with approximately 40% of the 2026 improvements expected to come from gross margin expansion and 60% from administrative expense savings, and expects to reach an annualized operating income improvement run rate of $125 million by the end of 2026.

In terms of financial health, the company reported adjusted EBITDA of $288 million in the second quarter, up 12.5% year-over-year. The company repurchased approximately 2.6 million shares of common stock for $200 million during the quarter at an average price of $76.69 per share. As of quarter-end, the company retained $455 million in authorized share repurchase capacity.