$Envista Holdings (NVST.US)$ shares are up 20% after reporting Q3 earnings and anticipating a return to growth in Q4.
Q3 earnings of $0.12 per share beat the analyst consensus estimate of $0.09 by 33.33 percent.
The company reported quarterly sales of $601.00 million, surpassing the analyst consensus estimate of $590.32 million by 1.81 percent. This represents a 4.80 percent decrease over sales of $631.30 million from the same period last year.
Paul Keel, Chief Executive Officer, stated, "In Q3, Envista delivered results that were in line with expectations with early evidence that our commercial and innovation investments are having a beneficial impact."
Keel continued, "We're focusing our attention and resources in three particular areas: accelerating growth, leveraging EBS for sustained operational improvement, and advancing our high-performing and inclusive culture. While we have much work ahead of us, I am encouraged by our pace of improvement. Many thanks to my Envista colleagues around the world who make this progress possible."
Looking ahead, for the full year 2024, the company expects a core sales growth of -1% to -4%, and adjusted EBITDA margins between 10% and 12%. It expects to return to growth in the fourth quarter.