you, to Thank morning Okay. and Stanley, all. good
that the out completed. all that we X-for-X today I that per As split will point of we stock first our reflect be me let amounts begin, discussing share recently
share. or XXXX year's cost last addition, per million $X.X diluted QX $X.XX In of include restructuring results pre-tax
in discuss moment. in XXXX more a third were As negatively that mentioned, hurricanes recent the impacted our among quarter other factors results by in U.S., detail Stanley the I'll
approximately and we quantify impacted by our $X.XXX. EPS XX negatively worldwide sales basis to difficult it points by While precise approximately that growth impacted hurricanes is estimate impact, the the our negatively
year-to-date and that vary comparison of metrics in I'll a to performance replacement our the the where results basis, believe not transparency certain items for about and financial be presented measures non-GAAP prior-year measures between the and periods, settlement expense. operating regarded investors enables non-GAAP comparative that results are by and cost. be financial financial on greater excludes with These excludes of of So, should respect for the also It We On provide information with management year-to-date business. allows measures. business litigation performance solely our GAAP on may the key measure, GAAP discussing independent non-GAAP for our the useful as informational restructuring basis purposes basis used non-GAAP an and non-GAAP as-reported a corresponding business. current also also financial
see a could website. a Relations release on this as C as our of reconciliation earnings of morning's reconciliation Investor section provided well that's Exhibit in You our
our turning So, to results quarter. the for
currency consisted for ended reflecting of Our the a of currencies and in billion, growth estimate hurricanes $X.X increase XX Again, acquisition were related growth the our a to by with net X.X% points. XX, XXXX, basis exchange. internally-generated X.X% sales This impacted currencies, third an we that quarter the sales quarter growth. X.X% negatively increase foreign increased and local additional September approximately contributed X.X% compared In sales local XXXX. growth XX.X% worldwide
in details morning. our the issued was growth of sales news You could that that A earnings contained also Exhibit see release this earlier about are
the XX for of quarter was at it quarter XXXX. third compared look the the points XXXX; you basis operating third of contracted If and with X.X% margin by
operating details margin additional QX. in Some our on
XX margin restructuring year's These The basis costs comparisons year of costs prior first restructuring quarter. to the third impacted in the relates in inclusion points. by last favorably operating
negatively vaccines operating basis XXXX XX relates margin during past XX the negatively And influenza to points. acquisitions completed our related about and impact to which of X the points. by quarter expenses, comparison third comparison our of operating third margin item sales basis months combined impacted in by Secondly, the
of basis impact net points margin operating contracted year-over-year. approximately the our by items, Excluding these XX
expense well the excluding a basis, in by X as quarter, impact expanded I note basis points. last margin year-to-date of our think operating settlement same that also these factors, to litigation it's the important on as
factors. by So, a bit negatively which little primary to I'd like gross discuss margins, our three were influenced
product was first mix. The
Medical the that was margin our been Health of Medical that a our the Health mix. faster sales, a product gross impacted Dental Animal lower impacted There at in rate and product businesses than profit Given that by growing have each overall within has higher gross margin also Animal been mix negatively and businesses.
percentage we rate quarter restructuring expenses, non-GAAP of the or dental our we last third efficiencies Germany. multi-year or If our a to basis compares in non-GAAP we Secondly, third year in the XX.X%. of it quarter margins of margins, sales expenses. particular business, with of infrastructure DSOs. have special cost. factors the took markets offset number GAAP third That organizations the as tax also were leverage XXXX, tax at and last U.S. XXXX. we third, continue look basis XX.X% to continue excludes our reported This to a dental we for operating for extend year lower dental to rate GAAP quarter gross of previous was as restructuring benefit in tax a effective control European efforts, business XX.X% key support These partially from realize contracts on XXXX effective in by And income where on the our lower saw lower and opportunity
excluding transaction on of rate XX% the since estimate XX% our both on estimated is the when a but detail, $XX a effective million GAAP full-year XXXX And QX. be the expect which we in basis and will range about event to range loss that I to EXD, to million. that QX be early the discuss tax We divestiture closed $XX and Stanley in greater in
rate this this is XXXX-XX XXXX, expect accounting to ASU because For is increase relates the over XXXX QX and little primarily stock-based be literature, majority primarily of the each we to us on the And to Schein. our in This bit of year, tax awards effective benefits be a when vest stock-based XX% Henry the XX%. impacts of range in tax which at compensation. standard as higher
tax in less higher higher expect be XXXX. was in course, will, assumptions shares based benefit expected our a in rate rate estimated to from This than of are and tax price stock-based the negatively tax XXXX on to XXXX. growth expect EPS diluted the that it since vest the We compensation XXXX number impact share of we
of results $X.XX. and had also attributable Compared XXXX, this X.X% the respectively. with impact X.X%, $X.XX per Henry or Moving $XXX.X Schein on quarter compares diluted the of of foreign growth EPS quarter net for income of for to exchange third growth represents it the the and share. I'll million was to GAAP diluted XXXX on represents our quarter that This a third of with the quarter XXXX, third of X.X% note for and positive X.X%, almost respectively. for results non-GAAP
me Let on the our some results additional provide for sales detail quarter.
were increased third X.X%, the for to foreign X.X%, Internally sales XX.X% $X.X local a XXXX sales billion. Dental currencies was acquisitions generated exchange. and up to there X.X% increase Our contributed of quarter in
impacted Our as The the merchandise. consumable currencies DSO points additional sales growth local was of in growth X.X% to North hurricanes, consumable XX recent in in due contract. an American a approximately XX approximately was points, and previously and dental of X.X% sales basis basis by of internal included loss products a growth a negatively disclosed result
sales been local factors. X.X% growth have internal in these two would without currencies Our
going dental We growth for consumable forward. also the expect stable market business merchandise
negatively quarter. sales comparison disclosed This revenue growth approximately from approximately XX XX.X% prior-year XXX prior year. declined primarily local basis equipment previously was from to successful Our North and That additional in currency. loss DSO which that the is of in the dental our and in related sales to sales American sales very the part hurricanes due in by a difficult dental points basis for impacted contract. an same by internal X.X% growth equipment growth was promotion a points Also, by the service was
However, equipment the note of to important healthy. end quarter, the to continued remain at backlog that it's also our
the divested fourth So of manufacturer of equity Technologies, Planmeca quarter, early the system. our ownership CAD/CAM the EXD XX.X% we in
one-time the Zealand of a Canada manufactures non-exclusive CAD/CAM pleased XXXX. $XX advanced The a to in generate continue will million Planmeca $XX we to to represent U.S. distribute between products digital dental on or Henry solutions, on exclusive diluted an of New and to $X.XX QX in share million Australia to their basis, customers. in respected charge to line and We basis. and Planmeca and continue non-cash of is brand highly divestiture $X.XX are the a per products and Schein expected
international, and and sales internal X.X% sales included in and local revenue. in X.X% in growth currencies service equipment our growth merchandise Turning was dental dental of consumable growth dental to international X.X%
sales increase third quarter, an Our Health were $XXX.X of for which was XX.X%. Animal million the
currencies sales agency local products in X.X% about and there exchange. points. currencies internationally. basis end X.X% to X.X% from and in We was also contributed from additional direct the and internal About of X.X% between local a North market included growth Also, generated normalized internal growth a growth points to Here, America commitment the healthy we value-added about in was the foreign sales was an hurricanes due the sales, XX in resulting sales products growth see in growth offering included certain of growth North acquisitions wide and sales our sales X.X% XX switching in a X.X%, up increase growth negative impact America reflects of believe America of strong basis growth solutions. a North and X.X%. range The
acquisitions and sales, growth for exchange Of currencies X.X%, internal X.X% of Internally contributed generated in international about XX in local the third quarter, Medical X.X% growth they negative to X.X% Turning of X.X% X.X%. were that local a in an And in million an foreign currencies, basis local was remaining additional that was increase currencies of impact America; increase an North sales points. the the $XXX.X up internal includes X.X%. and hurricanes in included X.X%. also were
driven very We customers. of by which our growth, pleased growth organic with existing Medical larger primarily was are strong
X% to additional Our sales in Value-Added and in internationally. X.X%, internal generated due the America The quarter, in were Internally acquisitions growth $XXX of Services Technology local growth exchange. in foreign X.X% growth X.X% included and X.X% an and currencies North sales an X.X%. local X% currencies increase million up were
The repurchase, that Obviously to America, hurricanes. less revenue growth there quarter. important to dental revenue of related sales significant North note specifically stock services The equipment about believe continue market In approximately dental X.X QX, lower by related during we Related growth. versus repurchase that More sales, $XXX impact million in lower million the to we financial services veterinary within technology X% during software lower repurchase revenue to September it's year's strong of board announced equipment the the to repurchase sales. sales. common primarily reflects growth this spent the authorized software and we third X.X%, stock we finance open as third the common We quarter. up repurchase additional EPS strong was XX, impact lower international because not the of market, of have think million diluted XXXX, financial we quarter was was of the directors had I that our any to On stock. shares on business $XXX on material. don't our prior of an our highlighted the that of to shares. we
So, the for at common the future our third Schein stock. of $XXX close authorized had of Henry quarter, repurchases million approximately
If of of cash of M&A third value. we sheet our million commitment $XXX.X strategy Our portion million have activities. focusing our take large capital the balance share continue believe believe brief is key to cash the year. cash increasing we'll flow flow is look and of strategy $XXX.X component last operating at in annual the to to of free cash We and on for highlights we was to shareholder the allocation operating compared some year, a flow, and repurchases a quarter strong deploying our flow both a
outstanding Our current slightly virtually over the accounts days were unchanged X.X on and increased turns turn year last the sales receivable year. inventory by
XXXX my XXXX just financial So conclude and let remarks our discussing by me guidance.
of For we GAAP – that reflects compared to now EPS GAAP attributable includes GAAP results be and actual expenses $X.XX, litigation the guidance the settlement to diluted to Henry Schein of XXXX XXXX, and $X.XX. or that growth $X.XX guidance expect to XX%
We that $X.XX divestiture in non-GAAP expenses, This cost. non-GAAP $X.XX. XXXX EXD excludes non-GAAP year litigation guidance expect EPS, restructuring now our XXXX the and are to diluted as settlement of range the QX and diluted of prior the loss also range the adjusting $X.XX of well the $X.XX, guidance EPS with which X% as be in compared reflects growth with X% the excludes to associated to
So, looking cost we integration of combine be centers we the U.S. to Veterinary at integration of systems. to distribution $X.X conditions that stable. related note existing Supplies, market consolidate continue Henry QX, into dental and to as one-time our the we I'll Merritt also Schein Merritt expect the approximately the expect million facilities
We continued gross mitigated also expect new expenses. expect margins will margins DSO be and partially these lower in lower both contracts, the by gross Europe lower operating although we
less consistent guidance also as to of not rates includes our previously the include acquisitions, attributable does for assumes Henry are that continuing For week XXXX the exchange one levels. unannounced fiscal for Note potential Schein XXXX, current EPS announced with as it also any. acquisition, generally than or is XXXX. Guidance that foreign impact future operations, well but if any completed current
that we introducing guidance year, revenue this are next please XXXX on based is our guidance to XXXX. note standards. for current recognition Turning At time,
standard ASC believe However, earnings that revenue we be our recognition to material new results. not of do XXX the impact the will
different, obviously should review we'll to situation. update continuing that be And are We that shareholders.
EPS reflects to the to guidance, of be compared That non-GAAP with of growth Henry Schein diluted guidance X% of XXXX expect our XX% we growth the compared XX% $X.XX GAAP of to XXXX XXXX, to $X.XX. and mid-point range. mid-point For XX% our to with attributable
stable Schein guidance XXXX. X a XXXX lower later – consistent consistent the continue points levels. market in percentage for as gross not As well we it of previously Europe, and are XXXX well current or towards in compensation are this We and the margins future have again, expect operations our rates new end contracts any attributable in if that that to any Henry And exchange a the we U.S. completed Again, does XXXX. XXXX guidance until percentage with assumes points guiding rate. did the as would DSO to assume again, of – less to as that as to that experienced are any. than also reminder, markets related The annualizes acquisitions EPS we or rate the we've current announced expect X with in tax attributable conditions. acquisitions late impact tax foreign stock-based effective higher benefit include remain potential than Therefore, guidance in continuing is will we
to with turn back the that call So summary, now Stanley. me let
