DENTSPLY SIRONA, Inc. (NASDAQ:XRAY) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Andrea Daley - Vice President, Investor Relations Simon Campion - President and Chief Executive Officer Glenn Coleman - Executive Vice President, Chief Financial Officer Andreas Frank - Executive Vice President, Chief Business Officer Conference Call Participants Elizabeth Anderson - Evercore ISI Michael Cherny - Bank of America Jeff Johnson - Baird Kevin Caliendo - UBS Jonathan Block - Stifel ...

Second Quarter 2023 Earnings Conference Call August 3, 2023 Forward-Looking Statements and Associated Risks This presentation contains statements that do not directly and exclusively relate to historical facts which constitute forward-looking statements, including, statements and projections concerning, among other things, the expected timing, benefits and costs associated with the Company's restructuring plan described in this presentation. The Company's forward-looking statements represent current expecta ...

Financial Data and Key Metrics Changes - Dentsply Sirona reported Q1 2023 revenue of $978 million, representing a reported sales growth of 0.9% [14] - Organic sales growth was 5.1%, exceeding the outlook of approximately 1% [13] - Adjusted EPS in Q1 was $0.39 compared to $0.54 in the prior year quarter, with a decline attributed to commercial investments, higher inflation, and foreign currency headwinds [16][17] Business Line Data and Key Metrics Changes - Organic sales in the Consumables segment grew approximately 10%, driven by strong demand for restorative and preventive products [21] - Technologies & Equipment segment saw organic sales growth of 1.7%, with Aligners growing over 25% [18] - The Equipment & Instruments business declined by mid-single digits, while Implants were down high single digits [20] Market Data and Key Metrics Changes - U.S. organic sales grew 14.6%, driven by higher volume in Consumables, Aligners, and CAD/CAM [22] - Europe saw organic sales growth of 1.1%, primarily due to strong growth in Consumables and Aligners [23] - Rest of World organic sales were flat, but excluding China, growth was 5.7% [23] Company Strategy and Development Direction - The company aims to transform dentistry by digitalizing workflows and enhancing customer experience [30] - Strategic objectives include delivering annual growth and margin commitments, enhancing profitability, and accelerating enterprise digitalization [31] - A new segment structure will be implemented starting Q2 2023 to provide greater transparency in financial reporting [29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the trajectory through the transition year, raising the low end of the 2023 outlook for net sales and adjusted EPS [8][24] - The company remains cautious about the external environment, particularly in capital equipment and certain markets like China, Brazil, and Australia [28] - Management expects EBITDA margins to be at least 16% in Q2 and greater than 18% for the full year [26][28] Other Important Information - The company announced a $150 million accelerated share repurchase program [17] - Dentsply Sirona is committed to ESG initiatives, including developing global standard protocols for digitalized cleft treatment [12] Q&A Session Summary Question: Trends observed towards the end of the quarter and Aligner profitability - Management noted strong trends in January and February, with March being weaker, but April showed stability [41] - Aligner profitability is driven by improved customer conversion rates and reduced acquisition costs [44] Question: Guidance for Q2 and organic growth expectations - Management expects slight sequential increases in revenue and EPS for Q2, but cautioned about tougher comps from the previous year [48][49] Question: Performance of the Implant business and recovery in China - Excluding China, the implant business was down low single digits, with expectations for recovery in both U.S. and China markets [55] Question: Equipment demand trends and order book shaping - Distributor timing dynamics were primarily related to the U.S. business, with good volume gains in CAD/CAM [58][59] Question: Portfolio optimization and potential divestitures - The company is evaluating alternatives for its Wellspect asset, with no significant divestitures expected in the near term [66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-16211 DENTSPLY SIRONA Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation ...

Revenue and Sales Performance - For the year ended December 31, 2022, Technologies & Equipment (T&E) net revenues represented approximately 59.1% of worldwide net revenues, while Consumables net revenues accounted for 40.9%[19]. - The net sales for each product category as a percentage of the Company's total net sales for the year ended December 31, 2022, were: Equipment & Instruments 17.3%, Implants 14.5%, CAD/CAM 12.8%, Orthodontics 7.6%, Healthcare 6.9%, Endodontic & Restorative 29.8%, and Other consumables 11.1%[29]. - Net sales for DENTSPLY SIRONA Inc. decreased by 7.3% year-over-year, with an organic sales decline of 0.5% for the year ended December 31, 2022[200]. - The company reported a net loss of $950 million for 2022, compared to a net income of $411 million in the previous year, primarily due to a goodwill impairment charge of $1,187 million[200]. - Cash from operations was $517 million, down from $657 million in the prior year[200]. - Sales in China declined by $93 million during 2022 relative to 2021 due to COVID-19 restrictions and reduced patient traffic[206]. - Approximately 3% of consolidated net sales came from Russia and Ukraine, with net assets in these countries totaling $83 million as of December 31, 2022[206]. Product Innovation and Development - Dentsply Sirona's new product innovations accounted for approximately 14% of 2022 sales, highlighting the company's commitment to continuous product development[38]. - The company unveiled its cloud solution DS Core in 2022, developed in collaboration with Google Cloud, to integrate digital dentistry workflows across its devices and services[37]. - Dentsply Sirona's R&D investments focus on accelerating product and clinical innovation, with an objective to achieve more frequent development and release cycles[39]. - The Company invests at least 4% of annual net sales in R&D, focusing on innovation and digital technology[41]. - The company identified new products as a critical part of its growth opportunities, but faces risks of product obsolescence due to rapid technological advancements[101]. - Dentsply Sirona's Orthodontics product category includes the SureSmile aligner solution and the Byte direct-to-consumer aligner solution, reflecting its focus on innovative treatment options[25]. Market Presence and Strategic Acquisitions - The company has a significant market presence in over 150 countries, with a strong foothold in Europe and the Asia-Pacific region[20]. - Dentsply Sirona has made strategic acquisitions, including the purchase of Datum Dental for OSSIX bone regenerative collagen and Propel for VPro aligner treatment devices, to enhance its product offerings[38]. - The Company completed several acquisitions in 2021, including Datum Dental and Propel, to enhance its product offerings and market position[43]. - Byte, a leading provider in the direct-to-consumer aligner market, was acquired on December 31, 2020, expanding the company's market presence[159]. Operational Efficiency and Challenges - The Company aims to leverage its global scale to improve operational efficiencies across procurement, logistics, and manufacturing[40]. - The company is undergoing organizational restructuring to enhance profitability and operational performance, which may involve significant costs and risks[113]. - The company has implemented strategic procurement initiatives to leverage alternative sources of raw materials and transportation[211]. - The company faces risks related to obtaining necessary product approvals and marketing clearances from regulatory authorities like the FDA[144]. - The company relies on a limited number of suppliers for key products, which poses risks of supply chain disruptions and manufacturing delays[103]. Financial and Regulatory Risks - The company identified material weaknesses in internal control over financial reporting, which could impact the accuracy and timeliness of financial results[78]. - The company restated certain previously issued consolidated financial statements, which may affect investor confidence and incur unanticipated costs[78]. - The company is subject to ongoing SEC investigations and several securities class action lawsuits, which could harm its business and financial condition[87]. - The company faces risks from litigation and claims, including potential securities class actions and product liability, which could harm its business and cash flows[171]. - The company is exposed to evolving privacy and data protection regulations, such as the GDPR, which could result in significant fines and compliance challenges[100]. Employee and Corporate Responsibility - The Company employs over 15,000 employees worldwide, with a focus on attracting and retaining talent through diverse programs[59]. - The company aims to achieve global gender pay equity and gender parity by 2025, as part of its sustainability program[64]. - As of December 31, 2022, the company established seven employee resource groups with approximately 2,000 members globally, focusing on talent development and employee engagement[66]. - The company is committed to sustainable operations, investing in employees, customers, and the environment[40]. - The company has a dedicated Employee Health & Safety program aligned with international standards, ensuring employee safety and well-being[70]. Economic and Market Conditions - The company is exposed to risks from changes in global economic conditions, including inflation and supply chain shortages[84]. - The impact of inflation and rising interest rates has pressured customer financing for equipment purchases, affecting sales volumes[210]. - Changes in foreign exchange rates may adversely impact the company's consolidated financial statements, as approximately two-thirds of sales are outside the U.S.[139]. - The company faces challenges related to reimbursement levels from third-party payors, which could lead to revenue declines[150]. - The ongoing COVID-19 pandemic has negatively impacted business operations, particularly in China, leading to distribution constraints and reduced patient traffic[164]. Environmental and Social Governance - The company is committed to diversity, equity, and inclusion, with a strategy focused on embedding these values into its culture[63]. - Expectations regarding environmental, social, and governance considerations may lead to potential liabilities and increased costs for the company[176]. - Climate change and natural disasters pose risks to the company's operations, potentially disrupting production and distribution across its global facilities[174].

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET Company Participants Andrea Daley - Vice President-Investor Relations Simon Campion - Chief Executive Officer Glenn Coleman - Chief Financial Officer Conference Call Participants Dylan Finley - UBS Elizabeth Anderson - Evercore ISI Brandon Couillard - Jefferies Nathan Rich - Goldman Sachs Erin Wright - Morgan Stanley Jeff Johnson - RW Baird Michael Cherny - Bank of America Justin Lin - William Blair Rachel Vatns ...

Fourth Quarter 2022 Earnings and 2023 Outlook February 28, 2023 2 Forward-Looking Statements and Associated Risks This Presentation contains statements that do not directly and exclusively relate to historical facts which constitute forward-looking statements, including, statements and projections concerning, among other things, the expected timing, benefits and costs associated with the Company's restructuring plan described in this Presentation. The Company's forward-looking statements represent current e ...

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Q3 2022 Earnings Conference Call November 14, 2022 8:30 AM ET Company Participants Andrea Daley - VP, IR Simon Campion - Chief Executive Officer Glenn Coleman - Chief Financial Officer Conference Call Participants Kevin Caliendo - UBS Elizabeth Anderson - Evercore Nathan Rich - Goldman Sachs Erin Wright - Morgan Stanley Brandon Couillard - Jefferies Jeffrey Johnson - Baird Daniel Clark - Bank of America Jonathan Block - Stifel Michael Petusky - Barrington Research Jason ...

4 " " Third Quarter 2022 Earnings Conference Call November 14, 2022 2 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." These statements represent current expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-16211 DENTSPLY SIRONA Inc. | Title of each class Common Stock, par value $.01 per share | | | | --- | --- | --- | | | Trading Symbol | Name ...