HSIC · 10-Q · 2026Q3 · Full report

Operating Expense Trends

HENRY SCHEIN INC · 2026-11-03 · Importance 35 · Surprise 32

Total operating expenses increased 5.7% in the third quarter and 7.0% in the first nine months of 2026 compared with the respective 2025 periods. Operating expenses were 26.3% of sales in the quarter versus 25.8%, and 26.5% for the nine months versus 26.2%. Nine-month operating-cost growth reflected sales growth and unfavorable foreign-exchange rates; a $11 million fair-value remeasurement benefit in Global Specialty Products partly affected 2026 costs. The prior-year nine-month comparison included a $28 million fair-value remeasurement benefit in Global Specialty Products and a $4 million benefit in Global Distribution and Value-Added Services.

Key facts

• Henry Schein’s operating costs for the first nine months of 2026 included an $11 million benefit from remeasurement to fair value of a previously held equity investment in Global Specialty Products. source
• During the first nine months of 2026, Henry Schein’s operating costs excluding acquisitions increased primarily due to costs associated with sales growth and unfavorable foreign-exchange rates. source