Press release
Dentsply Sirona Reports Fourth Quarter and Full Year 2022 Results, Provides Full Year 2023 Outlook
FY22 net sales decreased (7.3%) to $3,922 million, organic sales decreased (0.5%)FY22 GAAP EPS of ($4.41), adjusted EPS of $2.09Q4 net sales decreased (10.9%)
About this update from Dentsply Sirona Inc.
[{"type":"text","content":"FY22 net sales decreased (7.3%) to $3,922 million, organic sales decreased (0.5%)FY22 GAAP EPS of ($4.41), adjusted EPS of $2.09Q4 net sales decreased (10.9%) to $983 million, organic sales decreased (2.6%)Q4 GAAP EPS of ($0.07), adjusted EPS of $0.46FY23 outlook: net sales of $3.85 - $3.95 billion, organic sales down (1%) to up 2%, adj. EPS range of $1.80 to $2.00 CHARLOTTE, N.C., Feb. 28, 2023 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the \"Company\") (Nasdaq: XRAY) today announced its financial results for the fourth quarter and full year 2022. Full year 2022 net sales of $3,922 million decreased (7.3%), compared to $4,231 million for the full year of 2021. Net loss was ($950) million, or ($4.41) per diluted share, compared to income of $411 million, or $1.87 per diluted share for the full year of 2021. Full year 2022 net loss includes a non-cash charges for the impairment of goodwill and intangible assets of $1.1 billion net of tax, which were recorded in the second half of 2022. These charges impacted earnings per diluted share by $5.10. Adjusted earnings per diluted share decreased to $2.09 compared to $2.82 in 2021. Excluding the impact of foreign currency translation, adjusted earnings per share was $2.44. Adjusted EBITDA for the full year of 2022 was $761 million, compared to $978 million in 2021. A reconciliation of Non-GAAP measures (including organic sales, adjusted operating income and margin, adjusted EPS, adjusted EBITDA, and adjusted free cash flow conversion) to GAAP measures is provided below. Fourth quarter 2022 net sales of $983 million decreased (10.9%), compared to $1,103 million in the fourth quarter of 2021. Net loss was ($15) million, or ($0.07) per diluted share, compared to net income of $119 million, or $0.54 per diluted share in the fourth quarter of 2021. Adjusted earnings per diluted share decreased to $0.46 compared to $0.83 in the fourth quarter of 2021. “2022 was a challenging year due to both internal and external factors. Despite these challenges, we were pleased to deliver fourth quarter financial results that exceeded the high end of our prior sales and EPS outlook ranges. This represents an important milestone as the Company works to improve performance and rebuild investor and employee confidence,” said Simon Campion, Chief Executive Officer. “As we enter a new year, w...