Henry Schein had record first quarter financial results with increased sales and net income to start 2022.
Henry Schein reported record first-quarter financial results with total net sales at $3.2 billion, up 8.7% compared with the first quarter of 2021.
“2022 is off to a strong start with record first-quarter financial results as we successfully execute on our new 2022-2024 strategic plan,” said Stanley M. Bergman, chairman of the board and chief executive officer of Henry Schein. “First-quarter growth in our dental business was driven by strong global equipment sales as dentists continued to invest in their practices, and consumable merchandise sales recovered well during the second half of the quarter.”
Henry Schein’s GAAP net income for the first quarter of 2022 was $181 million, up from $166 million in the first quarter of 2021.
Global dental sales for the first quarter of 2022 were $1.8 billion, an increase of 2.2% compared with the prior-year period.
Global Dental consumable merchandise internal sales grew 1.3% for the quarter, and North American dental consumable merchandise internal sales increased 2.6%, or 7.3% when excluding sales of PPE and COVID-19 related products.
“In North America, we believe consumable merchandise sales were impacted by lower patient traffic in January as a result of COVID-19 but were progressively stronger in February and March,” said Bergman. “Growth within Henry Schein One continues to be driven primarily by a recovery in patient traffic to dental offices, which generates demand for our revenue cycle management solutions, and from cloud-based solutions that create flexible, scalable services to drive greater efficiency and engagement.”