Press release
Dentsply Sirona Reports Third Quarter 2022 Results
Net sales decreased (8.9%) to $947 million, organic sales decreased (0.7%)GAAP EPS loss of ($5.01), adjusted EPS of $0.41 down (31.5%) year-over-yearOperating
About this update from Dentsply Sirona Inc.
[{"type":"text","content":"Net sales decreased (8.9%) to $947 million, organic sales decreased (0.7%)GAAP EPS loss of ($5.01), adjusted EPS of $0.41 down (31.5%) year-over-yearOperating cash flow of $109 millionUpdated FY22 outlook: organic sales decline of ~(2%); adj. EPS range of $1.90 to $2.00 CHARLOTTE, N.C., Nov. 14, 2022 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the \"Company\") (Nasdaq: XRAY) today announced its financial results for the third quarter of 2022. Third quarter net sales of $947 million decreased (8.9%), compared to $1,040 million in the third quarter of 2021. Foreign currency translation negatively impacted sales by (8.2%). Net loss for the third quarter of 2022 was ($1,077) million, or ($5.01) loss per diluted share, compared to $84 million, or $0.38 per diluted share in the third quarter of 2021. Adjusted earnings per diluted share decreased to $0.41 compared to $0.60 in the third quarter of 2021. A reconciliation of Non-GAAP measures (including organic sales, adjusted operating income and margin, adjusted EPS, and adjusted EBITDA) to GAAP measures is provided below. \"Our third quarter results reflect continued macroeconomic headwinds, including foreign currency impacts, global supply chain challenges, and regional softness in the U.S. and China. Despite the challenges this quarter, we were encouraged by double-digit growth in clear aligners, solid performance in Europe, and continued strong demand for Imaging equipment,” said Simon Campion, Chief Executive Officer. “We are not satisfied with third quarter results, however this quarter marks an important turning point as we enter our company's next chapter. We have initiated a comprehensive review of our entire business in order to improve our execution, build a winning portfolio, and return the Company to growth. Dentsply Sirona has great products and solutions, a healthy innovation pipeline, and we are committed to charting a path forward which delivers better and more consistent results for our shareholders.\" Q3 22 Summary Results (GAAP) (in millions, except per share amount and percentages) Q3 22 Q3 21 YoY Net Sales 947 1,040 (8.9%)Operating (Loss)/ Income (1,218) 132 NMOperating (Loss)/ Income % (128.5%) 12.8% Diluted (Loss)/ Earnings Per Share (5.01) 0.38 NM NM - not meaningful* Percentages are based on actual values and may not recalculate due to roundi...