Henry Schein · Earnings release · 8-K Exhibit 99

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FOR IMMEDIATE RELEASE

HENRY SCHEIN REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS

●

●

●

Reaffirming guidance for 2026 sales, non-GAAP diluted EPS, and Adjusted

EBITDA

●

T1Confirming that value creation initiatives are expected to deliver over $200 million of operating

income

improvement over the next few years, with $125 million run-rate by year-end

MELVILLE, N.Y.,

Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care

solutions to office-based dental and medical practitioners, today reported financial results

for the first quarter ended March

“I am pleased with our strong first quarter results that reflect continuing

momentum from the second half of last year

as we grow market share and expand gross margins. Our growth outlook,

combined with the progress made on value-creation

initiatives and a strong start to the year, reinforces

my confidence that we will deliver on our 2026 financial guidance,”

said

Fred Lowery,

Chief Executive Officer of Henry Schein.

“I am committed to the Company’s goal of achieving greater than

$200 million of annual operating income improvement within the next

few years, with a $125 million run-rate by the end of

2026. These initiatives, along with continued execution of our strategic

plan, will contribute to us achieving high-single digit

to low-double digit earnings growth in the coming years.”

“Over the last two months as I have immersed myself in the business

and spoken with customers, suppliers and

employees, it is clear that Henry Schein has great assets with a

differentiated platform to serve as a trusted partner to

healthcare practitioners

worldwide. As we look ahead, T2I’m excited by the significant

opportunities to accelerate growth

through the use of technology,

improve operational execution, and become

a more agile company,” added Mr. Lowery.

Financial Results

●

Total

net sales

for the quarter were $3.4 billion,

an increase of 6.3% compared to the first quarter of 2025 and

reflects 2.5% internal sales growth, 0.7% sales growth from acquisitions, and

a 3.1% increase resulting from foreign

currency exchange. First quarter sales growth is detailed in Exhibit A

1

.

●

Global Distribution and Value-Added Services sales

for the quarter increased 6.1%, and reflects 2.5% internal

sales growth, 0.6% sales growth from acquisitions, and a 3.0% increase

resulting from foreign currency exchange

compared with the first quarter of 2025. The main components are:

●

T3Global Dental Distribution merchandise sales

for the quarter increased 9.0%, and by 3.0% internal sales

growth, compared with the first quarter of 2025, with continuing strong

momentum in the U.S.

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●

Global Dental Distribution equipment sales

for the quarter increased 8.6%, and by 3.5% internal sales

growth, compared with the first quarter of 2025.

●

T4Global Medical Distribution sales

for the quarter increased 1.7%, and by 1.3% internal sales growth,

compared with the first quarter of 2025.

●

Global Value-Added Services sales

for the

quarter increased 10.6%, and by 7.8% internal sales growth,

compared with the first quarter of 2025.

●

Global Specialty Products sales

for the quarter increased 8.1%, and by 1.7%

internal sales growth, 1.7% sales

growth from acquisitions, and a 4.7% increase resulting from

foreign currency exchange, compared with the first

●

Global Technology sales

for the quarter increased 7.0%, and reflects 6.9% internal sales growth, 1.3%

sales

decrease due to a business disposal,

and a 1.4% increase resulting from foreign currency exchange,

compared with

●

GAAP net income

2

for the quarter was $107 million, or $0.92 per diluted share

4

, and compares with first-quarter

●

Non-GAAP net income

2

for the quarter was $153 million, or $1.32

per diluted share

4

, and compares with first-

quarter 2025 non-GAAP net income of $143 million, or $1.15 per diluted

share.

●

Adjusted EBITDA

3

for the quarter was $289 million and compares

Adjusted EBITDA of

●

In the first quarter of 2026, the Company acquired a controlling interest

in its S.I.N. distributor in the U.S. to enhance

its position in the value implant market and support its business integration

strategy.

This transaction resulted in a

remeasurement gain of $11 million.

Share Repurchases

T5During the first quarter of 2026, the Company repurchased approximately

1.6 million shares of common stock at an

average price of $77.64 per share for a total of $125 million.

At the end of the quarter,

Henry Schein had $655 million authorized and available for future stock

repurchases.

Henry Schein today reaffirmed its financial guidance for 2026. Guidance is for current

continuing operations and

does not include the impact of restructuring expenses and related costs, amortization

expense of acquired intangible assets,

the impairment of intangible assets,

changes in contingent consideration,

costs associated with shareholder advisory matters,

select implementation-related costs supporting value creation

initiatives,

and litigation settlements. This guidance also

assumes that foreign currency exchange rates remain generally consistent with

current levels.

●

G12026 non-GAAP diluted EPS attributable to Henry Schein, Inc.

is unchanged and expected to be $5.23 to $5.37.

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G2T62026 total sales growth is unchanged and expected to be approximately 3%

●

3

is unchanged and expected to grow mid-single digits compared with 2025.

Adjustments to 2026 GAAP Net Income and Diluted EPS

The Company is providing guidance for 2026 diluted EPS and for 2026

Adjusted EBITDA on a non-GAAP basis, as

noted above. The Company is not providing a reconciliation of its 2026 non-GAAP

diluted EPS guidance to its projected

2026 diluted EPS prepared on a GAAP basis, or its 2026

Adjusted EBITDA guidance to net income prepared on a GAAP

basis. This is because the Company is unable to provide without

unreasonable effort an estimate of restructuring expenses

and related costs, including its ongoing value-creation initiatives, and

the corresponding tax effect, which will be included in

the Company’s 2026 diluted EPS and net income, prepared on a GAAP basis. The inability to provide this

reconciliation is

due to the uncertainty and inherent difficulty of predicting the occurrence, magnitude,

financial impact and timing of related

costs.

Management does not believe these items are representative of the Company’s underlying business performance.

For

the same reasons, the Company is unable to address the probable significance

of the unavailable information, which could be

material to future results.

First-Quarter 2026 Conference Call Webcast

The Company will hold a conference call to discuss first-quarter 2026 financial

results today, beginning at 8:00 a.m.

Eastern time. Individual investors are invited to listen to the

conference call through Henry Schein’s website by visiting

https://investor.henryschein.com/webcasts. In addition, a replay will be available beginning shortly after the call has

ended

for a period of one week.

The Company will be posting slides that provide a summary of its first-quarter

financial results on its website at

https://investor.henryschein.com/financials/quarterly-results/.

About Henry Schein, Inc.

Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care

professionals powered by a network of

people and technology. With more than 25,000 Team

Schein Members worldwide, the Company's network of trusted

advisors provides more than 1 million customers globally with more

than 300 valued solutions that help improve operational

success and clinical outcomes. Our Business, Clinical, Technology and Supply Chain solutions help office-based dental and

medical practitioners work more efficiently so they can provide quality care more

effectively. These solutions also support

dental laboratories, government and institutional health care clinics, as well

as other alternate care sites.

Henry Schein operates through a centralized and automated distribution

network, with a selection of more than

300,000 branded products and Henry Schein corporate brand products

in our main distribution centers.

A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville,

N.Y.,

and has operations or affiliates in 34 countries and territories. The Company's sales reached

have grown at a compound annual rate of approximately 11.0 percent since Henry Schein became a public

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For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein,

Instagram.com/HenrySchein,

and @HenrySchein on X.

Cautionary Note Regarding Forward-Looking Statements and Use

of Non-GAAP Financial Information

In accordance with the “Safe Harbor” provisions of the Private Securities Litigation

Reform Act of 1995, we provide the

following cautionary remarks regarding important factors that, among others,

could cause future results to differ materially from the

forward-looking statements, expectations and assumptions expressed or implied herein.

All forward-looking statements made by us are

subject to risks and uncertainties and are not guarantees of future performance.

These forward-looking statements involve known and

unknown risks, uncertainties and other factors that may cause our actual

results, performance and achievements or industry results to be

materially different from any future results, performance or achievements

expressed or implied by such forward-looking statements.

These statements include total sales growth, EPS and Adjusted EBITDA guidance

and are generally identified by the use of such

terms as “may,” “could,”

“expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,”

“to be,” “to make”,

“have

confidence or confident that it will” or other comparable terms. A fuller discussion

of our operations, financial condition and status of

litigation matters, including factors that may affect our business and

future prospects, is contained in documents we have filed with the

United States Securities and Exchange Commission, or SEC, including

our Annual Report on Form 10-K, and will be contained in all

subsequent periodic filings we make with the SEC. These documents identify

in detail important risk factors that could cause our actual

performance to differ materially from current expectations.

Risk factors and uncertainties that could cause actual results to differ

materially from current and historical results include, but

are not limited to: our dependence on third parties for the manufacture and

supply of our products and where we manufacture products,

our dependence on third parties for raw materials or purchased components;

risks relating to the achievement of our strategic growth

objectives, including anticipated results of restructuring and value creation

initiatives; risks related to the Strategic Partnership Agreement

with KKR Hawaii Aggregator L.P.

entered into in January 2025; transitions in senior company leadership

(including, without limitation,

the transition to a new Chief Executive Officer); our ability

to develop or acquire and maintain and protect new products (particularly

technology and specialty products) and services and utilize new technologies

that achieve market acceptance with acceptable margins;

transitional challenges associated with acquisitions and joint ventures,

including the failure to achieve anticipated synergies/benefits, as

well as significant demands on our operations, information systems, legal, regulatory,

compliance, financial and human resources

functions in connection with acquisitions, dispositions and joint ventures; certain

provisions in our governing documents that may

discourage third-party acquisitions of us; adverse changes in supplier rebates

or other purchasing incentives; risks related to the sale of

corporate brand products; risks related to activist investors; security risks associated

with our information systems and technology

products and services, such as cyberattacks or other privacy or data security

breaches (including the October 2023 incident); effects

of a

highly competitive (including, without limitation, competition from third-party

online commerce sites) and consolidating market;

political, economic, and regulatory influences on the health care industry;

risks from expansion of customer purchasing power and multi-

tiered costing structures; increases in shipping costs for our products or

other service issues with our third-party shippers, and increases in

fuel and energy costs; changes in laws and policies governing manufacturing,

development and investment in territories and countries

where we do business; general global and domestic macro-economic and political conditions,

including inflation, deflation, recession,

unemployment (and corresponding increase in under-insured

populations), consumer confidence, sovereign debt levels, fluctuations

in

energy pricing and the value of the U.S. dollar as compared to foreign

currencies and changes to other economic indicators failure to

comply with existing and future regulatory requirements, including relating

to health care; risks associated with the EU Medical Device

Regulation; failure to comply with laws and regulations relating to health care

fraud or other laws and regulations; failure to comply with

laws and regulations relating to the collection, storage and processing of sensitive

personal information or standards in electronic health

records or transmissions; changes in tax legislation, changes in tax rates and availability

of certain tax deductions; risks related to product

liability, intellectual property

and other claims; risks associated with customs policies or legislative import

restrictions; risks associated

with disease outbreaks, epidemics, pandemics (such as the COVID-19

pandemic), or similar wide-spread public health concerns and other

natural or man-made disasters; risks associated with our global operations; T7the

threat or outbreak of war (including, without limitation,

geopolitical wars), terrorism or public unrest (including, without limitation,

the wars in Ukraine and Iran,

the Israel-Gaza war and other

unrest and threats in the Middle East and the possibility of a wider European or

global conflict); T8changes to laws and policies governing

foreign trade, tariffs and sanctions or greater restrictions on imports

and exports, including changes to international trade agreements and

the current imposition of (and the potential for additional) tariffs by

the U.S. on numerous countries and retaliatory tariffs; supply

chain

disruption; litigation risks; new or unanticipated litigation developments

and the status of litigation matters; our dependence on our senior

management,

employee hiring and retention, increases in labor costs or health care costs, and our relationships

with customers, suppliers

and manufacturers; and disruptions in financial markets. The order in which

these factors appear should not be construed to indicate their

relative importance or priority.

We caution that

these factors may not be exhaustive and that many of these factors are beyond our

ability to control or predict.

Accordingly, any forward-looking

statements contained herein should not be relied upon as a prediction of actual

results. We undertake

no duty and have no obligation to update forward-looking statements except

as required by law.

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Included within the press release are non-GAAP financial measures that supplement

the Company’s Consolidated Statements of

Income prepared under generally accepted accounting principles (GAAP).

These non-GAAP financial measures adjust the Company’s

actual results prepared under GAAP to exclude certain items. In the schedule

attached to the press release, the non-GAAP measures have

been reconciled to and should be considered together with the Consolidated

Statements of Income. Management believes that non-GAAP

financial measures provide investors with useful supplemental information

about the financial performance of our business, enable

comparison of financial results between periods where certain items may vary independent

of business performance and allow for greater

transparency with respect to key metrics used by management in operating

our business. The impact of certain items that are excluded

include integration and restructuring costs, amortization of acquisition-related

assets, the insurance claim recovery associated with the

cybersecurity incident, changes in contingent consideration, costs associated with shareholder

advisory matters and select value creation

consulting costs, and litigation settlements because the amount and

timing of such charges are significantly impacted by the timing, size,

number and nature of the acquisitions we consummate and occur on an

unpredictable basis. These non-GAAP financial measures are

presented solely for informational and comparative purposes and should

not be regarded as a replacement for corresponding, similarly

captioned, GAAP measures.

1

See Exhibit A for details of sales growth. Internal sales growth is calculated

from total net sales using constant foreign

currency exchange rates and excludes sales from acquisitions.

2

See Exhibit B for a reconciliation of GAAP net income and diluted

EPS to non-GAAP net income and diluted EPS.

3

See Exhibit C for a reconciliation of GAAP net income to Adjusted EBITDA.

4

References to diluted EPS refer to diluted EPS attributable to Henry Schein, Inc.

CONTACTS:

Investors

Ronald N. South

Senior Vice President and Chief Financial Officer

ronald.south@henryschein.com

Graham Stanley

Vice President, Investor Relations and Strategic Financial Project Officer

graham.stanley@henryschein.com

Media

Tim Vassilakos

Vice President,

Global Corporate Communications

timothy.vassilakos@henryschein.com

(TABLES TO FOLLOW)

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HENRY SCHEIN, INC.

CONDENSED CONSOLIDATED

STATEMENTS

OF INCOME

(in millions,

except share and per share data)

(unaudited)

Three Months Ended

Net sales

$

$

Cost of sales

Gross profit

Operating expenses:

Selling, general and administrative

Depreciation and amortization

Restructuring and related costs

Operating income

Other income (expense):

Interest income

7

6

Interest expense

Other, net

-

(1)

Income before taxes, equity in earnings of affiliates and noncontrolling interests

Income taxes

Equity in earnings of affiliates, net of tax

-

3

Net income

Less: Net income attributable to noncontrolling interests

(5)

(3)

Net income attributable to Henry Schein, Inc.

$

$

Earnings per share attributable to Henry Schein, Inc.:

Basic

$

$

Diluted

$

$

Weighted-average common

shares outstanding:

Basic

Diluted

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HENRY SCHEIN, INC.

CONDENSED CONSOLIDATED

BALANCE SHEETS

(in millions, except share data)

(unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$

$

Accounts receivable, net of allowance for credit losses of $96 and $90

Inventories, net

Prepaid expenses and other

Total current assets

Property and equipment, net

Operating lease right-of-use assets

Goodwill

Other intangibles, net

Investments and other

Total assets

$

$

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND

STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

$

Bank credit lines

Current maturities of long-term debt

Operating lease liabilities

Accrued expenses:

Payroll and related

Taxes

Other

Total current liabilities

Long-term debt

Deferred income taxes

Operating lease liabilities

Other liabilities

Total liabilities

Redeemable noncontrolling interests

Commitments and contingencies

Stockholders' equity:

none outstanding

-

-

1

1

Additional paid-in capital

Retained earnings

Accumulated other comprehensive loss

Total Henry Schein, Inc. stockholders' equity

Noncontrolling interests

Total stockholders' equity

Total liabilities, redeemable noncontrolling

interests and stockholders' equity

$

$

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HENRY SCHEIN, INC.

CONDENSED CONSOLIDATED

STATEMENTS

OF CASH FLOWS

(in millions)/(unaudited)

Three Months Ended

Cash flows from operating activities:

Net income

$

$

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Depreciation and amortization

Impairment charge on intangible assets

-

1

Non-cash restructuring and related charges

2

1

Stock-based compensation expense

3

5

Provision for losses on trade and other accounts receivable

6

2

Provision for (benefit from) deferred income taxes

2

(7)

Equity in earnings of affiliates

-

(3)

Distributions from equity affiliates

3

2

Changes in unrecognized tax benefits

(1)

2

Other

Changes in operating assets and liabilities, net of acquisitions:

Accounts receivable

Inventories

8

Other current assets

6

Accounts payable and accrued expenses

Net cash provided by (used in) operating activities

Cash flows from investing activities:

Purchases of property and equipment

Payments related to equity investments and business acquisitions,

net of cash acquired

Proceeds from loan to affiliate

1

-

Capitalized software costs

Other

(1)

(5)

Net cash used in investing activities

Cash flows from financing activities:

Net change in bank credit lines

Proceeds from issuance of long-term debt

Principal payments for long-term debt

Proceeds from issuance of stock upon exercise of stock options

1

1

Payments for repurchases and retirement of common stock

Payments for taxes related to shares withheld for employee taxes

(9)

Distributions to noncontrolling shareholders

(4)

Payments for contingent consideration

-

Acquisitions of noncontrolling interests in subsidiaries

Net cash provided by financing activities

Effect of exchange rate changes on cash and cash equivalents

Net change in cash and cash equivalents

5

Cash and cash equivalents, beginning of period

Cash and cash equivalents, end of period

$

$

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Exhibit A - First Quarter Sales

Henry Schein, Inc.

Sales Summary

(in millions)

(unaudited)

Constant Currency

Growth

Local

Internal

Growth

Acquisition

Growth

Total

Constant

Currency

Growth

Foreign

Exchange

Impact

Total Sales

Growth

U.S. Distribution and Value-Added

Services

Merchandise

$

$

Equipment

Value-Added Services

Total Dental

Medical

Total U.S. Distribution and Value-Added

Services

International Distribution and Value-

Added Services

Merchandise

Equipment

Value-Added Services

9

7

Total Dental

Medical

Total International Distribution and

Value-Added Services

Global Distribution and Value-Added

Services

Global Merchandise

Global Equipment

Global Value-Added Services

Global Dental

Global Medical

Total Global Distribution and Value-

Added Services

Global Specialty Products

Global Technology

Eliminations

n/a

n/a

n/a

n/a

n/a

Total Global

$

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Exhibit B

Henry Schein, Inc.

Reconciliation of reported GAAP net income and diluted EPS attributable

to Henry Schein, Inc.

to non-GAAP net income and diluted EPS attributable to Henry Schein, Inc.

(in millions, except per share data)

(unaudited)

First Quarter

%

Growth

Net income attributable to Henry Schein, Inc.

$

$

%

Diluted EPS attributable to Henry Schein, Inc.

$

$

%

Non-GAAP Adjustments, net of tax and attribution to noncontrolling

interests

Restructuring and related costs (1)

$

8

$

Acquisition intangible amortization (2)

Cyber incident-insurance proceeds, net of third-party advisory expenses (3)

-

Change in contingent consideration (4)

1

(2)

Costs associated with shareholder advisory matters and select implementation

related

value creation consulting costs (5)

6

Non-GAAP adjustments to net income

$

$

Non-GAAP adjustments to diluted EPS

$

$

Non-GAAP net income attributable to Henry Schein, Inc.

$

$

%

Non-GAAP diluted EPS attributable to Henry Schein, Inc.

$

$

%

Management believes that non-GAAP financial measures

provide investors with useful supplemental information

about the financial

performance of our business, enable comparison of financial results

between periods where certain items may

vary independent of

business performance and allow for greater transparency

with respect to key metrics used by management

in operating our business.

These non-GAAP financial measures are

presented solely for informational and comparative

purposes and should not be regarded

as a

replacement for corresponding,

similarly captioned, GAAP measures.

Net income growth rates are

based on actual values and may not

recalculate due to rounding.

Amounts may not sum due to rounding.

(1)

Restructuring and Related Costs

The following table presents details of our restructuring and related costs:

First Quarter

Restructuring and related costs - pre-tax, as reported

$

$

Income tax benefit

(3)

(7)

Amount attributable to noncontrolling interests

(1)

(1)

Restructuring and related costs, net

$

8

$

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(2)

Acquisition Intangible Amortization

The following table presents details of amortization of acquired intangible

assets:

First Quarter

Acquisition intangible amortization - pre-tax, as reported

$

$

Income tax benefit

Amount attributable to noncontrolling interests

(7)

(6)

Acquisition intangible amortization, net

$

$

(3)

Represents cyber insurance proceeds, net of one time professional and

other fees related to remediation of our Q4 2023 cyber

incident.

During Q1 2025, we received insurance proceeds of $20 million ($15 million, net of

taxes) under this policy

representing the remaining insurance recovery of losses related to the cyber incident.

(4)

Represents a change in the fair value of contingent consideration of $1 million ($1

million, net of taxes) and ($2) million (($2)

million, net of taxes) recorded during Q1 2026 and Q1 2025, respectively,

(5)

Represents costs associated with shareholder advisory matters and select implementation

related value creation consulting

costs of $13 million ($10 million, net of taxes) and $8 million ($6 million, net of

respectively.

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Exhibit C

Henry Schein, Inc.

Reconciliation of reported GAAP net income to Adjusted EBITDA

(in millions)

(unaudited)

First Quarter

Net income attributable to Henry Schein, Inc. (GAAP)

$

$

Income attributable to noncontrolling interests

5

3

Net income (GAAP)

Definitional adjustments:

Interest income

(7)

(6)

Interest expense

Income taxes

Depreciation and amortization

Non-GAAP adjustments:

Restructuring and related costs

Cyber incident-insurance proceeds, net of third-party advisory

expenses

-

Impairment of intangible assets

-

1

Change in contingent consideration

1

(2)

Costs associated with shareholder advisory matters and select

implementation related value creation consulting costs

8

Other adjustments:

Equity in earnings of affiliates, net of tax

-

(3)

Adjusted EBITDA (non-GAAP)

$

$

Adjusted EBITDA is a non-GAAP measure that we calculate

in the manner reflected on Exhibit C.

We define Adjusted EBITDA as net income, excluding (i)

net income attributable to noncontrolling interests, (ii) interest

income and expense, (iii) income taxes, (iv) depreciation and

amortization, (v) restructuring and

related costs, (vi) cyber incident-insurance proceeds, net of

third-party advisory expenses, (vii) impairment of intangible

assets, (viii) change in contingent

consideration, (ix) costs associated with shareholder advisory

matters and select implementation related value creation

consulting costs, and (x) equity in

earnings of affiliates, net of tax.

Amounts may not sum due to rounding.