UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-K Delaware 83-2206728 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 200 S. Kraemer Blvd., Building E Brea, California (Address of Principal Executive Offices) (Zip Code) 92821-6208 (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION ...

Envista Holdings Corporation (NVST) reported fourth-quarter 2023 adjusted earnings per share (EPS) of 29 cents, down 44.2% year over year. The bottom line missed the Zacks Consensus Estimate by 12.1%.The adjustments include charges and benefits related to the amortization of acquired intangible assets, goodwill and intangible asset impairment, among others.The company’s loss from continuing operations was $1.27 in the quarter compared with the year-ago quarter’s EPS of 45 cents.For the full year, adjusted e ...

Financial Data and Key Metrics - Q4 2023 sales declined 2.3% to $645.6 million, with core sales down 2% year-over-year [18] - Adjusted EBITDA margin for Q4 2023 was 15.6%, a 530 basis point decline from Q4 2022 [19] - Full-year 2023 adjusted EBITDA margin was 18.1%, with free cash flow generation exceeding $220 million [9] - Q4 2023 free cash flow was $99.9 million, with full-year free cash flow reaching $223.6 million, a $100 million improvement over 2022 [24][54] - Adjusted diluted EPS for Q4 2023 was $0.29, compared to $0.52 in Q4 2022 [49] Business Segment Performance - Specialty Products & Technologies segment grew 4.8% in Q4 2023, driven by strong growth in Western Europe and emerging markets, offset by declines in North America [49] - Orthodontic business grew nearly 15% in Q4, with Spark delivering over 50% year-over-year growth and expected to double by 2026 [11][20] - Implant business declined low-single-digits in 2023, with North America underperforming but showing signs of stabilization in Q4 [11][50] - Equipment & Consumables segment declined 12.4% in Q4, primarily due to cybersecurity issues disrupting North American distribution channels [51] - DEXIS IOS business grew over 30% in Q4, driven by strong unit demand and stabilizing prices [23] Market Performance - Developed markets declined 4.8% in Q4, with strong growth in Western Europe offset by double-digit declines in North America [18] - Emerging markets grew over 9% in Q4, with China sales increasing by almost 15% [48][114] - North America is expected to return to market-level growth by the end of 2024, with targeted investments in commercial execution and marketing [6][57] Strategic Direction and Industry Competition - The company is focused on accelerating orthodontic business growth, reaccelerating implant business growth, and optimizing cost structure through EBS (Envista Business System) [28][29][56] - Investments in Spark and North American implants are expected to support long-term margin expansion [44] - The company is leveraging premium and value implant franchises globally, with a focus on regenerative and prosthetic offerings [28] - The dental market is described as attractive, underpenetrated, and with solid growth trends, despite near-term macroeconomic uncertainties [26] Management Commentary on Operating Environment and Future Outlook - Management remains cautious about near-term demand for high-end dental procedures, citing macroeconomic uncertainties, inflation, and geopolitical risks [10][32][38] - For 2024, the company expects core sales to grow low-single-digits and adjusted EBITDA margins to range between 16% to 17%, with margins accelerating throughout the year [27][62] - The company anticipates stabilizing inventory levels and normalized sales growth in 2024, with a focus on improving free cash flow management [22][54] Other Key Information - The company recorded a $258.3 million non-cash impairment charge in Q4, primarily due to higher discount rates and macroeconomic volatility [47] - Two recent acquisitions, DEXIS IOS and Osteogenics, saw accelerated growth in 2023 and are positioned for future growth [17] - The company postponed its Investor Day to provide a more comprehensive update with the full leadership team in place [58][64] Q&A Session Summary Question: Impact of macroeconomic environment on demand [32] - Management expects 2024 to remain challenging, with demand for high-end dental procedures below long-term growth expectations due to economic uncertainty, inflation, and cautious capital spending by DSOs and clinicians [32] Question: Margin guidance and long-term outlook [84][85] - Management acknowledged disappointing margin guidance for 2024, citing unfavorable mix, Spark growth, and investments in North American implants as key factors [84] - Long-term margin expansion remains a priority, with expectations of improvement as Spark margins normalize and North American implant business stabilizes [85] Question: Pricing strategy for premium implants [90][94] - Management clarified that pricing is not the primary issue for premium implants in North America, with the focus being on improving customer experience, training, and community engagement [94] Question: China market outlook [114][115] - China sales grew 15% in Q4 2023, but full-year performance was flat due to COVID and VBP impacts [114] - The company expects strong growth in Q1 2024 due to easier comps but anticipates challenges in Q2-Q4 as comparisons normalize [114] Question: Gross margin and operating expense breakdown [129] - Management attributed the decline in EBITDA margins to a combination of lower gross margins and ongoing investments in growth initiatives, with expectations of sequential improvement throughout 2024 [129]

For the quarter ended December 2023, Envista (NVST) reported revenue of $645.6 million, down 2.3% over the same period last year. EPS came in at $0.29, compared to $0.52 in the year-ago quarter.The reported revenue represents a surprise of +2.25% over the Zacks Consensus Estimate of $631.39 million. With the consensus EPS estimate being $0.33, the EPS surprise was -12.12%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Fourth Quarter 2023 Earnings Presentation February 7, 2024 Forward Looking Statements Certain statements in this presentation are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, ...

BREA, Calif., Feb. 7, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) today announced results for the fourth quarter and full year 2023.  For the quarter ended December 31, 2023, reported sales were $645.6 million.  Core sales in the quarter declined 2.0% over the corresponding quarter in 2022.  Net loss in the fourth quarter was $217.4 million or $1.27 per diluted share.  The net loss included a $258.3 million non-cash charge related to the impairment of goodwill and intangible assets. Durin ...

Analysts on Wall Street project that Envista (NVST) will announce quarterly earnings of $0.33 per share in its forthcoming report, representing a decline of 36.5% year over year. Revenues are projected to reach $632.7 million, declining 4.3% from the same quarter last year.The current level reflects an upward revision of 0.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over ...

BREA, Calif., Jan. 31, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") announced today that it has joined Women in DSO® as a Platinum Industry partner. Women in DSO advances and empowers female professionals, specifically in the dental support organization (DSO) industry. Envista was invited to partner because of its demonstrated commitment to advancing female leadership in dentistry and its working relationship with many of the nation's largest DSOs. As part of the partnership, E ...

The market expects Envista (NVST) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

 BREA, Calif., Jan. 16, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) today announced that the company will hold an Investor Event at the Envista Summit on Friday, February 16, from 8:00 a.m. to 10:45 a.m. PST. This event will include a management presentation followed by an interactive question-and-answer section. Due to space limitations, in-person attendance requires advanced registration. Those interested in attending the event in person can contact [email protected] for more informatio ...