DENTSPLY SIRONA Inc (XRAY - Free Report) is one of the leading worldwide manufacturers’ dental consumables, dental laboratory products, dental specialty products and consumable medical device products.
Post DENTSPLY-SIRONA merger, the business has been organized into two reporting segments: Dental & Healthcare Consumables and Technologies.
Currently, this York, PA- based company carries a Zacks Rank #4 (Sell) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key details from the just-released announcement below:
Earnings: DENTSPLY reported adjusted earnings of 66 cents per share, which beat the Zacks Consensus Estimate by 3 cents and was flat on a year-over-year basis.
Revenues: DENTSPLY’s net sales increased to $954.2 million from $648.9 million in the year-ago period. However this came below the Zacks Consensus Estimate of $960.0 million. Sales (excluding precious metals) of the combined businesses grew 49.2% at constant currency (cc) exchange rates.
Key Stats: Dental and Healthcare Consumables were flat year over year at cc, while Technologies grew 0.9% in the quarter.
Major Factors: The quarterly upside was driven by robust performance in the Rest of World segment. Sales of the combined businesses grew 0.4% on a constant currency basis. Sales of the combined businesses in the U.S. fell 3.1% on a constant currency basis.
During the quarter, the company repurchased an additional $100 million of shares and paid $18 million in dividends. The company raised the bottom end of its previous EPS guidance range and now anticipates adjusted EPS for 2016 in the range of $2.75 to $2.80.
Check back later for our full write up on this DENTSPLY earnings report later!
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