Henry Schein, Inc. (NASDAQ:HSIC) Q3 2019 Earnings Conference Call - Final Transcript

Nov 05, 2019 • 10:00 am ET


Henry Schein, Inc. (NASDAQ:HSIC) Q3 2019 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Henry Schein Third Quarter 2019 Conference Call. All lines have been placed on a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this call is being recorded.

I would now like to introduce your host for today's call, Carolynne Borders, Henry Schein's Vice President of Investor Relations. Please go ahead, Carolynne.

Carolynne Borders

Thank you, Holly. Before I begin, I want to make sure that we no longer have that background noise. It sounds like it is now muted. Thank you. Thanks to each of you for joining us to discuss Henry Schein's results for the 2019 third quarter. With me on the call today are Stanley Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein and Steven Paladino, Executive Vice President and Chief Financial Officer.

Before we begin, I would like to state that certain comments made during this call will include information that is forward-looking. As you know, risks and uncertainties involved in the Company's business may affect the matters referenced to in forward-looking statements. As a result, the Company's performance may materially differ from those expressed in or indicated by such forward-looking statements. These forward-looking statements are qualified in their entirety by the cautionary statements contained in Henry Schein's filings with the Securities and Exchange Commission, including the Risk Factors section of our Annual Report on Form 10-K.

In addition, all comments about the markets we serve, including end market growth rates and market share, are based upon the Company's internal analysis and estimates. Our conference call remarks will include both GAAP and non-GAAP results. We believe the non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable the comparison of financial results between periods where certain items may vary independently of business performance and allow for greater transparency with respect to key metrics used by management in operating our business. These non-GAAP financial measures are presented solely for information and comparative purposes and should not be regarded as a replacement for corresponding GAAP measures. These reconciliations can be found in the Supplemental Info section of our Investor Relations website and in Exhibit B of today's press release, which is available in the Investor Relations section of our website.

The content of this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, November 5, 2019. Henry Schein undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call. Please limit yourself to a single question and a follow-up during Q&A to allow as many listeners as possible to ask a question within the one hour we have allotted for this call.

With that said, I would like to turn the call over to Stanley Bergman.

Stanley M. Bergman

Thank you, Carolynne. Good morning, everyone and thank you for joining us. We are pleased