Investors Disappointed with Dentsply Sirona Missing Revenue Estimate

Dentsply Sirona Inc.

announced better than expected adjusted earnings for the second quarter. However, investors were disappointed that the company's revenue fell shy of the estimate. The company reported net income of $105.4 million, or $0.44 a share, sharply higher than $44.1 million, or $0.31 a share, recorded in the year-ago period. On an adjusted basis, its EPS would have advanced 4.1 percent to $0.76 from $0.73 in the same quarter last year. This was $0.06 more than the Street estimate of $0.76. Dentsply Sirona generated revenue of $1.02 billion representing 46.4 percent YOY jump. Sales of its combined business rose 3.4 percent excluding the exchange rates impact. Street predicted $1.03 billion revenue. Its CEO, Jeffrey Slovin, commented on the results, "This quarter we announced the acquisition of MIS implants, which marks our entry into the $1.5 billion value implants market. We also repurchased an additional $100 million of shares, and paid $18 million in dividends." Going forward, the company expects adjusted EPS to be $2.70 - $2.80 and sees revenue to grow between 4 percent and 6 percent on constant currency basis for the full year. Analysts are looking for an EPS of $2.75. On Thursday, shares of the company traded down by $1.45, or 2.23 percent, to $63.69.