Market Overview

Investors Disappointed With Dentsply Sirona Missing Revenue Estimate

Share:

Dentsply Sirona Inc (NASDAQ: XRAY) 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. The stock was slightly in the red in Friday's pre-market session.

Posted-In: Earnings News Guidance

 

Related Articles (XRAY)

View Comments and Join the Discussion!

This Economist Is Expecting July's 'Relatively Normal' Jobs Report To Mark A New Trend

EUR/USD Trading Higher, Spanish Industrial Production Eases