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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