RADNOR, Pa., Nov. 17, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) (“DENTSPLY”). On October 24, 2024, DENTSPLY issued a press release "announc[ing] the voluntary suspension of sales and marketing of its Byte Aligners and Impression Kits while the Company conducts a review of certain regulatory requirements related to these ...

RADNOR, Pa., Nov. 16, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) ("DENTSPLY").On October 24, 2024, DENTSPLY issued a press release "announc[ing] the voluntary suspension of sales and marketing of its Byte Aligners and Impression Kits while the Company conducts a review of certain regulatory requirements related to these produ ...

Have you assessed how the international operations of Dentsply International (XRAY) performed in the quarter ended September 2024? For this dental products manufacturer, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growt ...

Financial Performance - Dentsply Sirona reported a net loss of $495 million for the three months ended September 30, 2024, compared to a net loss of $266 million for the same period in 2023[11]. - Total comprehensive loss attributable to Dentsply Sirona was $455 million for the three months ended September 30, 2024, versus $303 million for the same period in 2023[11]. - The company reported a net loss of $494 million for the quarter ending June 30, 2024, compared to a net income of $18 million for the previous quarter[15]. - For the nine months ended September 30, 2024, Dentsply Sirona reported a net loss of $482 million, compared to a net loss of $204 million in the same period of 2023[19]. - The total comprehensive loss for the quarter ending June 30, 2024, was $(494) million, reflecting ongoing challenges in the market[15]. - The company reported a basic loss per common share of $(2.35) for the nine months ended September 30, 2024, compared to $(0.94) for the same period in 2023[40]. Cash and Assets - Cash and cash equivalents decreased to $296 million as of September 30, 2024, down from $334 million at December 31, 2023[13]. - Total current assets were $1,921 million as of September 30, 2024, compared to $1,973 million at December 31, 2023[13]. - Dentsply Sirona's total equity decreased to $2,490 million as of September 30, 2024, from $3,294 million at December 31, 2023[13]. - Total liabilities increased to $4,136 million as of September 30, 2024, from $4,076 million at December 31, 2023[13]. - The company had $422 million in notes payable and current portion of long-term debt as of September 30, 2024, compared to $322 million at December 31, 2023[13]. Sales and Revenue - Total net sales for the nine months ended September 30, 2024, were $2,888 million, a decrease of 2.2% from $2,953 million in 2023[26]. - Total net sales for the three months ended September 30, 2024, were $951 million, a slight increase from $947 million in the same period of 2023[45]. - The Essential Dental Solutions segment saw net sales of $1,108 million for the nine months ended September 30, 2024, slightly down from $1,110 million in 2023[26]. - The company faced a $15 million reduction in sales of direct-to-consumer orthodontics products due to legislative changes impacting its business model[174]. Impairments and Restructuring - Dentsply Sirona recorded goodwill and intangible asset impairments of $510 million for the nine months ended September 30, 2024, compared to $307 million in 2023[19]. - The company recorded a goodwill impairment charge of $504 million for the three months ended September 30, 2024, primarily related to Orthodontic Aligner Solutions and Implant & Prosthetic units[195]. - Restructuring costs for the three months ended September 30, 2024, were $23 million, compared to $6 million in the same period of 2023; for the nine months, restructuring costs totaled $45 million, down from $70 million[196]. Segment Performance - Adjusted operating income for Connected Technology Solutions was $16 million for the three months ended September 30, 2024, down from $22 million in 2023, a decrease of 27.3%[46]. - The Essential Dental Solutions segment reported adjusted operating income of $132 million for the three months ended September 30, 2024, compared to $115 million in 2023, an increase of 14.8%[46]. - Orthodontic and Implant Solutions segment adjusted operating income decreased due to unfavorable geographic mix, higher distribution and manufacturing costs, increased advertising and selling costs, and higher headcount[201]. Legal and Compliance - The Company is involved in multiple legal proceedings, including a putative class action alleging violations of U.S. securities laws related to revenue recognition from June 9, 2021, to May 9, 2022[111]. - The Company has received a shareholder derivative suit alleging breaches of fiduciary duties and insider trading by current and former executives, with similar claims across multiple derivative litigations[113][116][118]. - The Company intends to vigorously defend against all pending lawsuits, although it acknowledges that legal expenses may be significant[123]. Market Conditions and Outlook - The Company expects continued inflationary pressure on raw material and wage costs through the remainder of 2024, impacting margins[152]. - Germany represented 10% of the Company's sales for the nine months ended September 30, 2024, with ongoing recessionary pressures affecting demand for new dental equipment[153]. - The company anticipates that distributor inventory levels for consumable products will return to historical averages by the end of the fourth quarter of 2024[179].

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET Company Participants Andrea Daley - Vice President of Investor Relations Simon Campion - President and Chief Executive Officer Glenn Coleman - Executive Vice President and Chief Financial Officer Rich Rosenzweig - Executive Vice President, Corporate Development, General Counsel and Secretary Conference Call Participants David Saxon - Needham & Company Kevin Caliendo - UBS Jeffrey Johnson - Baird Jason Bednar - Pi ...

Third Quarter 2024 Earnings Conference Call November 7, 2024 Forward-Looking Statements and Associated Risks All statements in this presentation that do not directly and exclusively relate to historical facts constitute "forward-looking statements." Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control, including those described in Part ...

DENTSPLY SIRONA Inc. (XRAY) reported third-quarter 2024 adjusted earnings per share (EPS) of 50 cents, which beat the Zacks Consensus Estimate of 48 cents by 4.2%. The bottom line increased 2% on a year-over-year basis.On a GAAP basis, the company reported a loss of $2.46 per share compared with $1.25 per share in the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Revenue DetailsRevenues in the reported quarter totaled $951 million, surpassing the Zacks Consensus E ...

Dentsply Sirona Inc. XRAY shares are trading lower on Thursday.The company reported third-quarter adjusted earnings per share of 50 cents, beating the street view of 47 cents. Quarterly sales of $951 million (increased 0.5%) outpaced the analyst consensus estimate of $939.10 million.The company recorded a $495 million non-cash goodwill impairment charge in the Orthodontic and Implant Solutions segment. This was due to ongoing economic challenges, legislative changes affecting Byte, weaker demand, increased ...

Dentsply International (XRAY) reported $951 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.4%. EPS of $0.50 for the same period compares to $0.49 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $942.6 million, representing a surprise of +0.89%. The company delivered an EPS surprise of +4.17%, with the consensus EPS estimate being $0.48.While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

Dentsply International (XRAY) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.17%. A quarter ago, it was expected that this dental products manufacturer would post earnings of $0.50 per share when it actually produced earnings of $0.49, delivering a surprise of -2%.Over the last fou ...