Pre-earnings brief
Reports
Tue, Nov 3, 2026
Est. EPS
—
Est. revenue
—
Implied move
±2.7%
EPS beat rate
75%
Henry Schein, Inc. (HSIC) is a leading distributor of health care products and services, primarily serving dental and medical professionals. With a market cap of $9 billion, the company plays a crucial role in the health care supply chain, especially as demand for health services continues to grow.
Last quarter
In Q2 2026, Henry Schein reported an EPS of $1.27, surpassing estimates by 4.53%. The stock reacted positively, gaining 3.01% the following day.
Management promises and guidance
EPS beat streak
4Q
EPS beat rate
75%
Avg EPS surprise
+3.58%
Avg 1-day reaction
+1.01%
Overall expectations for Henry Schein's upcoming earnings are mixed, with investors looking for continued growth in EPS and revenue.
Bull case
If Henry Schein beats EPS estimates and shows strong revenue growth, it could signal robust demand in the health care sector, driving the stock higher.
Bear case
Conversely, if the company misses expectations or provides weak guidance, it could raise concerns about its market position and profitability, leading to a decline in the stock.
The print will turn on these.
Q1
What will the EPS be for Q3-2026, and how does it compare to previous quarters?
The EPS figure is critical for assessing the company's profitability and could significantly influence investor sentiment.
Q2
What guidance will management provide for revenue growth in the upcoming quarters?
Management's guidance on revenue growth will be closely scrutinized, as it reflects the company's outlook and ability to navigate market challenges.
—
Est. EPS
$-0.50
Est. Rev
$257M
Impl. Move
±8.7%
Why consensus could be wrong
The market may be underestimating Henry Schein's ability to capitalize on growing demand in the health care sector, particularly in dental products.
Supporting evidence
The company has consistently beaten EPS estimates, indicating strong operational performance.
Options pricing suggests a lower expected move compared to historical averages, which may not reflect the company's growth potential.
Key risk
If the EPS comes in above $1.30, it could challenge the current cautious sentiment and shift investor expectations.
Pre-commit to what would confirm each case.
This quarter's performance is pivotal as it will either reinforce the company's growth trajectory or highlight potential weaknesses in its operations.
Bull confirmed if
An EPS of $1.30 or higher would confirm the bull case, indicating strong profitability.
Bear confirmed if
An EPS below $1.20 would confirm the bear case, raising concerns about the company's financial health.
What the market is pricing for the move.
Implied Move
±2.67%
Historical Avg
±4.6%
The options market is pricing a modest move in either direction, suggesting uncertainty about the earnings outcome.
Options are pricing ±2.7% while HSIC has averaged ±4.6% over the last 8 prints — setup is pricing cheap.
ATM IV
0.3%
30d HV
19.3%
Cross-company pattern from 30 similar setups.
Prior-quarter beat + options pricing cheap in Health Care
Fade rate: 11 of 30 (37%)
This setup has occurred 30 times across Health Care in the last 2 years. 19 of 30 (63%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 3.2%, with a raw directional average of -0.6% (modestly negative historical bias).
Smart-money positioning from the most recent 13F filings.
Institutional
112.27%
of float
Insider
0.83%
of float
Holders
785
institutions
Top Holders· as of Jun 2026
Kohlberg Kravis Roberts & Co. L.P.
15,652,032 sh · $1.3B
14.04%
Flat
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Henry Schein beats expectations, history suggests the stock could rise by an average of 2.21%, confirming a positive outlook.
In line / cautious
If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.
Miss
If the company misses earnings expectations, history suggests a potential decline of around 7.41%, indicating investor disappointment.
The lines on the call that would change the story.
FMR, LLC
7,553,901 sh · $632.0M
6.78%
32.0%
Blackrock Inc.
7,024,663 sh · $587.7M
6.30%
0.0%
Artisan Partners Limited Partnership
6,467,467 sh · $541.1M
5.80%
-1.6%
Vanguard Capital Management LLC
6,346,669 sh · $531.0M
5.69%
-1.2%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.