Henry Schein’s financial results showed a record third quarter, with gains in dental sales from consumable merchandise and dental equipment.

Henry Schein reported record third-quarter financial results from continuing operations, excluding contributions from the company’s former Animal Health business that was spun off in February 2019.

Total net sales for the quarter ended September 25, 2021, were $3.2 billion, up 11.9% compared with the third quarter of 2020. The 11.9% increase included 7.2% internal growth in local currencies, 3.9% growth from acquisitions, and 0.8% growth related to foreign currency exchange.

GAAP net income for the third quarter of 2021 was $162.3 million, or $1.15 per diluted share, compared with prior-year GAAP net income of $141.7 million, or $0.99 per diluted share. Non-GAAP net income Q3 2021 was $154.8 million, or $1.10 per diluted share, compared with prior-year non-GAAP net income of $147.0 million.

Global Dental sales for Q3 2021 of $1.8 billion increased 10.5% versus the prior-year period. In local currencies, internally generated sales increased 5.2%, with 3.9% growth from acquisitions and 1.4% growth related to foreign currency exchange.

Global Dental consumable merchandise internal sales growth was 2.9% in local currencies. Excluding sales of PPE and COVID-19 related products, internal sales growth in local currencies was 4.8%. 

In North America, dental consumable merchandise internal sales in local currencies increased 3.9%, and 5.7% when excluding sales of PPE and COVID-19 related products. Dental equipment internal sales in local currencies increased 7.8%. 

Internationally, dental consumable merchandise internal sales in local currencies increased 1.3%, and 3.5% when excluding sales of PPE and COVID-19 related products, and dental equipment internal sales in local currencies increased 23.9%.

“North America dental consumable merchandise internal sales growth in local currencies with and without PPE and COVID-19 related products was solid in the third quarter,” said Stanley M. Bergman, chairman of the board and chief executive officer for Henry Schein. “North America dental equipment sales growth reflected strong sales of high-technology equipment and modest growth of traditional equipment sales which remain impacted by equipment manufacturing and office construction delays.”

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