Henry Schein reported an increase in income and sales in the second quarter of 2022.
For the quarter (end-June 25, 2022), the company reported a net income of $167 million. This was an increase from $164 million in the same quarter of 2021. Net sales for the quarter were $3 billion, an increase of 2.1% from the second quarter of 2021. For the same period in 2021, net sales were $2.9 billion. Dental sales for 2022 dipped 3.1% to $1.9 billion compared to the same quarter in 2021.
Additionally, Henry Schein is implementing a restructuring plan companywide that will fund the priorities of its strategic plan and streamline operations and other initiatives to increase efficiency. Restructuring charges are expected to be recorded in 2022 and 2023. An estimate of the charges has not yet been determined. Any restructuring charges are expected to include severance pay and facility-related costs.
