Henry Schein Announces Strategic Investment By KKR; Reports Preliminary Q4 Results

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(RTTNews) - Henry Schein (HSIC) announced a strategic investment by funds affiliated with KKR. In addition to current holdings, KKR will make an additional $250 million investment in the company's common stock. KKR will become the largest non-index fund shareholder in the company with a 12% position. KKR will also have the ability to purchase additional shares via open market purchases up to a total equity stake of 14.9% of the outstanding common shares of the company.

Henry Schein reported preliminary, unaudited results for the fourth quarter and fiscal year ended December 28, 2024. Preliminary revenue in the fourth quarter was $3.2 billion. Preliminary GAAP net income was $94 million, or $0.74 per share. Preliminary non-GAAP net income for the fourth quarter was $149 million, or $1.19 per share. Preliminary adjusted EBITDA was $270 million.

For full year 2024, preliminary revenue was $12.7 billion. Preliminary GAAP net income was $390 million, or $3.05 per share. Preliminary non-GAAP net income was $605 million, or $4.74 per share. Preliminary adjusted EBITDA was $1.06 billion.

Henry Schein announced preliminary financial guidance for 2025. Revenues and non-GAAP earnings per share are both expected to grow in the range of low to mid-single digits in 2025. Adjusted EBITDA is expected to grow in a mid-single digit range in 2025.

The company's Board of Directors has authorized an increase of $500 million to the stock repurchase program, with $250 million to be executed through accelerated share repurchases.

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