Press release
Dentsply Sirona Reports 2020 Third Quarter Results
Net sales of $895 million declined 7.0%. Organic sales declined 8.8%GAAP operating income of $82 million decreased 25.4%. Non-GAAP operating income of $197
About this update from Dentsply Sirona Inc.
[{"type":"text","content":"Net sales of $895 million declined 7.0%. Organic sales declined 8.8%GAAP operating income of $82 million decreased 25.4%. Non-GAAP operating income of $197 million increased 14.3% GAAP EPS of $0.25 decreased 34.2%. Non-GAAP EPS of $0.67 increased 17.5%Cash flow from operations of $207 million CHARLOTTE, N.C., Nov. 05, 2020 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (Nasdaq: XRAY), The Dental Solutions Company, today announced its financial results for the three months ended September 30, 2020.\n Don Casey, CEO commented: “Our third quarter results reflect a recovery in global dental markets, the actions we took to address pandemic related challenges, and the ongoing structural changes designed to improve our performance over the long-term. While we saw an encouraging improvement in business trends during the quarter, the outlook remains uncertain as a second wave of the pandemic impacts various countries around the world. We remain focused on delivering on our strategic imperatives to drive growth and innovation, while taking appropriate actions to manage our costs in the uncertain environment.” Q3 20 Summary Results (GAAP) (in millions, except per share amount and percentages) Q3 20 Q3 19 YoYNet Sales 895 962 (7.0%)Operating Income 82 110 (25.4%)Operating Income % 9.1% 11.4% Diluted EPS 0.25 0.38 (34.2%) Q3 20 Summary Results (Non-GAAP)[1] (in millions, except per share amount and percentages) Q3 20 Q3 19 YoYNet Sales 895 962 (7.0%)Organic Sales Growth % (8.8%)Operating Income 197 172 14.3%Operating Income % 22.0% 17.9% Diluted EPS 0.67 0.57 17.5% [1] Organic sales growth, Non-GAAP operating income, and Non-GAAP EPS are Non-GAAP financial measures which exclude certain items. Please refer to \"Non-GAAP Financial Measures\" below for a description of these measures and to the tables at the end of this release for a reconciliation between GAAP and Non-GAAP measures. Segment Results Technologies & Equipment Segment Third quarter 2020 sales were $504 million, down 5.7% versus prior year. Currency increased sales by 1.9%, while divestitures and discontinued products positively impacted sales by 0.9%. On an organic basis, net sales declined by 8.5%. Healthcare had positive organic growth, Equipment & Instruments sales were flat, offset by declines in Digital Dentistry. Consumables Segment Third quarter 2020 sales we...