Press release
Dentsply Sirona Reports Second Quarter 2023 Results
Net sales increased 0.5% to $1,028 million, organic sales increased 2.3%GAAP net income of $86 million, GAAP earnings per share of $0.40Adjusted EBITDA margin
About this update from Dentsply Sirona Inc.
[{"type":"text","content":"Net sales increased 0.5% to $1,028 million, organic sales increased 2.3%GAAP net income of $86 million, GAAP earnings per share of $0.40Adjusted EBITDA margin of 17.7%, adjusted EPS of $0.51Raising midpoint of FY23 net sales by $75 million to a range of $3.98 billion to $4.02 billionRaising FY23 organic sales growth outlook to approximately 3% (previously flat to up 2%)Raising FY23 adjusted EPS outlook to a range of $1.92 to $2.02 (previously $1.85 to $2.00) CHARLOTTE, N.C., Aug. 02, 2023 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the \"Company\") (Nasdaq: XRAY) today announced its financial results for the second quarter of 2023. Second quarter net sales of $1,028 million increased 0.5% (organic sales increased 2.3%), compared to $1,023 million in the second quarter of 2022. Net income for the second quarter of 2023 was $86 million, or $0.40 per diluted share, compared to net income of $73 million, or $0.34 per diluted share in the second quarter of 2022. Adjusted earnings per diluted share was $0.51 compared to $0.69 in the second quarter of 2022. A reconciliation of Non-GAAP measures (including organic sales, adjusted EBITDA and margin, adjusted EPS, and adjusted free cash flow conversion) to GAAP measures is provided below. \"We are pleased with our second quarter results, the highlight of which was organic growth in all four segments. Notably, aligners delivered another quarter of double-digit growth and our business in China returned to growth. We continue to see healthy patient traffic in most key markets and are making meaningful progress on our transformation initiatives. With this momentum and improved confidence, we are raising our full year outlook for net sales, organic sales growth, and adjusted EPS,\" said Simon Campion, President and Chief Executive Officer. \"We are confident that we are on the right path and are executing well on our strategic objectives, which we expect will position us to deliver sustainable performance over time, and translate to significant value creation for all of our stakeholders.\" Q2 23 Summary Results (GAAP)[1] (in millions, except per share amount and percentages) Q2 23 Q2 22 YoYNet Sales $1,028 $1,023 0.5%Net Income Attributable to Dentsply Sirona $86 $73 17.8%Diluted (Loss)/ Earnings Per Share $0.40 $0.34 19.0% Percentages are based on actual values and may not ...