Executive Chairman & CEO, Henry Schein, Inc
05-03-11 - Stanley Bergman's Interview on Fox Business News
05-03-11 - Stanley Bergman's Interview on Fox Business News.
About Stanley Bergman
On Henry Schein's Q3 2025 earnings call, Stanley Bergman discussed the company's value creation program, stating that the company has the opportunity to deliver over $200 million in operating income improvements over the next few years through initiatives including centralization of support services, indirect procurement, and automating processes. Bergman noted that the board approved a $750 million increase in the share repurchase program, with the company expecting to continue executing at a similar pace to the past quarter. He also announced that the company was raising its 2025 financial guidance, now expecting non-GAAP diluted EPS in the range of $4.88 to $4.96 per share, reflecting stable markets and a remeasurement gain realized in the third quarter. Bergman expressed gratitude for support over his 30 years as CEO, stating that he has enjoyed understanding how Wall Street works and learning from the experience. He indicated that he would continue to follow healthcare developments closely after stepping down as CEO, and noted that the team is "highly enthusiastic and ready to continue to advance the business" in accordance with the company's plans and value creation program.
Transcript (20 segments)
✨ AI-enhanced transcript with speaker attribution
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Liz0:00
Okay everybody, here's a question for you. Roll tape. What do these little pinchable guys have to do with the oh my gosh, little... oh my God, wait, no, I like the other one. What does it have to do with the multi-billion dollar health care company Henry Schein? Well, Henry Schein and kittens and puppies are a big part of the reason that the company posted record first quarter earnings on top of record sales last year. Joining us now in a first on Fox Business interview is Stanley Bergman. He's the CEO chairman of Henry Schein. Good to see you.
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Stanley Bergman0:32
Good to see you, Liz.
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Liz0:33
Again with the record, I feel like a broken record talking about your earnings, but this time around what I find very interesting is that your sales went up 10.6% year-over-year, but last year you had record sales total of $7.5 billion. Are you on track to meet the 7.5 or beat the $7.5 billion number?
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Stanley Bergman0:51
Well, Liz, the analysts have us at mid 8s, eight and a half billion. We're working hard to get there.
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Liz0:57
Can you do it?
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Stanley Bergman0:58
We're working very hard to get there.
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Liz1:00
You have five divisions. Which one do you think will push you over the edge to the top?
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Stanley Bergman1:04
All of our businesses actually, Liz, are doing well. The dental business showed 7% growth. The other businesses each did about 12%: the animal health, the medical, the international, and then the software business that well over 20%. So we're heading towards a very good year.
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Liz1:20
We should let people know that when you go into a dentist office or a doctor's office or pet care, there is a good chance that Henry Schein products are being used on you. You're in dental implants, x-ray machines, surgical equipment. How's the pet industry, the animal health business for you? You made that gigantic acquisition and it seems like it was one of the smartest things in the history of the company.
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Stanley Bergman1:42
Well, Liz, most office-based practitioners, dentists, veterinarians, and physicians do business with us in one way or another in the western world. And our Animal Health business did very well. We grew by about 12% in the United States, and that business together with our Animal Health business in Europe and Australia, New Zealand is doing quite well.
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Liz2:02
Analysts have called your company the acquisition machine because you've made four acquisitions since October. Are you done now, or do you have enough cash on the books to keep growing through acquisition?
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Stanley Bergman2:12
Well, we continue to grow through both internal growth and acquisition growth. We did post some good internal growth this quarter too, almost 4%, and of course we continue to grow on the acquisition side.
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Liz2:24
We've been talking to you since healthcare reform started. How does it look right now? The Republicans really push to overturn Obama's healthcare plan, but it seems like the industry and you are doing very well regardless of the indecisiveness out there.
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Stanley Bergman2:39
Well, who's going to pay for health care is the big debate. But when you cut through it all, end of the day, the American public wants to ensure that everyone in this country has access to a primary care physician, and one way or another that's going to happen.
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Liz2:53
You as a CEO, and we just talked to Bill Gates and Warren Buffett about this, and they said if you're going to give that much access to healthcare, it's got to be paid for. Exactly what you've said, taxes. I mean, President Obama has talked about raising taxes on the upper tier. Certainly Charlie Munger, the vice chair of Berkshire Hathaway, flat out said that. You know Warren Buffett feels that way too. Do you feel that way? Do you think that's the way to really go? I ask CEOs this all the time.
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Stanley Bergman3:19
Well, I'm not for additional taxes. I think we shouldn't pay too many more dollars in taxes. Having said that, healthcare has to be more efficiently delivered. And we are in the business of helping practitioners operate a more efficient business and providing better clinical care. That's the core mantra of the business, and I think that's a key part of the success of healthcare is to keep the costs low and provide better healthcare services for the dollar spent.
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Liz3:46
Looks like Henry Schein is working to do that. We'll be watching whether you get another record quarter. But how many not in a row? I think there was one tough quarter, but how many record quarters over the past couple of years?
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Stanley Bergman3:57
Well, we've been public for 62 quarters, and with the exception of one, we've done pretty well.
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Liz4:04
Wow, Stan, I'm honored to know you as a CEO. Not bad. Our Stan Bergman, chairman and CEO of Henry Schein. Good to see you.
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Stanley Bergman4:10
Thank you.