The following is a summary of the DENTSPLY SIRONA Inc. (XRAY) Q1 2024 Earnings Call Transcript:
Financial Performance:
DENTSPLY SIRONA reported Q1 2024 revenue of $953 million, a decline of 2.6% from the prior year quarter.
Gross margin remained stable year-over-year but improved sequentially by 140 basis points.
Adjusted EPS was $0.42 in Q1, reflecting an 8% increase over the previous year.
Due to macroeconomic uncertainties influencing the imaging business, the full-year outlook for organic sales and adjusted EPS trends towards the lower end of the range.
A share repurchase of up to $150 million is planned for Q2 2024.
Business Progress:
To support business growth, DENTSPLY SIRONA continues prioritizing product innovation, supply chain transformation, SKU optimization, and data/AI strategy.
Recovery strategies include reintroducing Orthophos SL, launching Axano Pure, and growing DS Core adoption.
Expanding in high-growth categories such as orthodontics and implants is a strategic focus.
Sustainability initiatives and improving equitable access to oral healthcare form part of the company's commitment.
Despite expected challenges in 2024, growth is expected in 2025 and the company aims to achieve a $3 target for EPS by 2026.
Efforts are ongoing to grow the Byte business and enhancements are being made in restructuring strategies, product offerings in Wellspect, and SKU rationalization efforts.
More details: Dentsply Sirona IR
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