Dentsply Sirona Raises Low-end Of Full Year Outlook

(RTTNews) - Dentsply Sirona (XRAY) said, based on the better-than-expected results in the first quarter, stable patient traffic in key markets, and improving confidence in ability to execute on strategic objectives, the company increased the low-end of full year outlook for net sales, organic sales growth, and adjusted EPS. The company increased the low-end of its 2023 net sales outlook by $50 million to a new range of $3.90 billion to $3.95 billion, and flat to up 2% on an organic sales basis. The company also increased the low-end of adjusted EPS range by $0.05 to a new range of $1.85 to $2.00.

Net loss for the first quarter was $19 million, or $0.09 loss per share, compared to net income of $69 million, or $0.32 per share, prior year. Adjusted earnings per share decreased to $0.39 compared to $0.54. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.34, for the quarter. Analysts' estimates typically exclude special items.

First quarter net sales were $978 million increased 0.9%, compared to $969 million in the first quarter of 2022. Analysts on average had estimated $937.7 million in revenue.

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