Envista (NVST) reported $633.1 million in revenue for the quarter ended June 2024, representing a year-overyear decline of 4.4%. EPS of $0.11 for the same period compares to $0.43 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $647.99 million, representing a surprise of -2.30%. The company delivered an EPS surprise of -59.26%, with the consensus EPS estimate being $0.27. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

分组1 - Envista reported quarterly earnings of $0.11 per share, missing the Zacks Consensus Estimate of $0.27 per share, and down from $0.43 per share a year ago, representing an earnings surprise of -59.26% [1] - The company posted revenues of $633.1 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.30%, and down from year-ago revenues of $662.4 million [2] - Envista shares have lost about 34.5% since the beginning of the year, while the S&P 500 has gained 9.9% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.30 on revenues of $632.61 million, and for the current fiscal year, it is $1.15 on revenues of $2.56 billion [7] - The Zacks Industry Rank for Medical - Products is currently in the top 42% of over 250 Zacks industries, indicating that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Core Viewpoint - Analysts project that Envista (NVST) will report quarterly earnings of $0.27 per share, reflecting a year-over-year decline of 37.2%, with revenues expected to reach $647.99 million, down 2.2% from the same quarter last year [1] Earnings Estimates - The consensus EPS estimate has been adjusted downward by 4.2% over the past 30 days, indicating a reassessment by analysts [1][2] Revenue and Sales Projections - Analysts estimate 'Sales- Equipment & Consumables' will reach $233.54 million, a decrease of 4.8% year-over-year [4] - 'Sales- Specialty Products & Technologies' is projected at $414.62 million, reflecting a decline of 0.6% [4] - 'Geographic Sales- North America' is expected to be $337.91 million, down 0.7% from the prior year [4] - 'Geographic Sales- Western Europe' is estimated at $146.09 million, showing a slight increase of 0.8% [5] - 'Geographic Sales- Emerging markets' is projected to be $129.84 million, indicating a significant decline of 10.3% [5] - 'Geographic Sales- Other developed markets' is expected to reach $32.48 million, up 0.6% year-over-year [6] - 'Geographic Sales- Specialty Products & Technologies- North America' is forecasted at $175.23 million, down 1.7% [6] - 'Geographic Sales- Equipment & Consumables- Emerging markets' is estimated at $30.80 million, reflecting a substantial decline of 28.2% [7] - 'Geographic Sales- Specialty Products & Technologies- Other developed markets' is projected at $22.60 million, up 1.8% [7] - 'Geographic Sales- Specialty Products & Technologies- Emerging markets' is expected to be $99.04 million, down 2.8% [8] - 'Geographic Sales- Equipment & Consumables- North America' is projected at $162.68 million, indicating a slight increase of 0.4% [8] - 'Geographic Sales- Equipment & Consumables- Western Europe' is estimated at $29.26 million, down 3.4% [9] Stock Performance - Over the past month, shares of Envista have returned -3.9%, compared to a -6.7% change in the Zacks S&P 500 composite [9] - Currently, NVST holds a Zacks Rank 5 (Strong Sell), suggesting potential underperformance in the near future [9]

Eric Hammes joins Envista as Chief Financial Officer Stefan Nilsson joins Envista as President, Nobel Biocare Veronica Acurio joins Envista as President, Ormco Eric Hammes is appointed Chief Financial Officer effective August 8, 2024. He succeeds Stephen Keller who has served as Interim Principal Financial Officer since September 2023. Mr. Keller will return to his previous role leading investor relations. Mr. Hammes said, "I am thrilled to join Envista at this exciting time in the company's history. Envist ...

Company Overview - Envista Holdings Corporation is a global family of over 30 trusted dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr, focused on improving lives through dental care [5] - The company offers a comprehensive portfolio that includes dental implants, orthodontics, and digital imaging technologies, addressing a wide range of clinical needs for dental professionals [5] - Envista is recognized as one of the largest global dental products companies, holding significant market positions in attractive segments of the dental products industry [5] Upcoming Financial Results - Envista will report its financial results for the second quarter of 2024 on August 7, 2024, with a conference call scheduled for 2:00 PM PT [3] - The conference call is expected to last approximately one hour and will be accessible via a dedicated phone line [3][4] - Earnings press releases and related materials will be available on the "Investors" section of Envista's website before and after the conference call [4]

Core Viewpoint - Envista Holdings Corporation has committed a $2.1 million donation to the University of Southern California's Dental Health Equity and Access to Care Initiative, aimed at improving access to oral health for underserved populations [1][2]. Group 1: Donation and Initiative Details - The $2.1 million donation will be distributed over three years to provide oral health equipment, products, and technology to enhance existing community programs at USC [2]. - The funding will support upgrades to the USC Pediatric Clinic and USC Mobile Clinic, expanding services for special needs patients and increasing telehealth capabilities [2]. - The initiative specifically targets underserved populations in California, particularly children with special needs [2]. Group 2: Collaboration and Impact - The partnership between Envista and USC will also include other philanthropic initiatives, such as medical mission trips to provide oral care to international communities [2][3]. - The collaboration aims to create long-lasting positive change in vulnerable communities, enhancing the overall health and dignity of individuals through improved dental care [3]. Group 3: Company Overview - Envista Holdings Corporation is a global leader in dental products, encompassing over 30 trusted brands, including Nobel Biocare and Ormco, focused on improving patient care through innovative solutions [4]. - The company is well-positioned in the dental products industry, with a comprehensive portfolio that addresses various clinical needs for dental professionals [4]. - The Envista Smile Project, a philanthropic foundation of Envista, aims to enhance oral health in disadvantaged communities by increasing access to care and education [5].

Core Viewpoint - Envista Holdings Corporation will participate in the Stifel Jaws & Paws Conference on May 29, 2024, with an audio-only recording available for 365 days post-event [1] Group 1: Company Overview - Envista is a global family of over 30 trusted dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr [2] - The company aims to partner with professionals to improve lives through industry-leading dental consumables, solutions, technology, and services [2] - Envista's portfolio includes dental implants, orthodontics, and digital imaging technologies, addressing a wide range of clinical needs for dentists [2] - The company is recognized as one of the largest global dental products companies, holding significant market positions in attractive segments of the dental products industry [2]

Envista Holdings Corporation (NVST) reported adjusted earnings per share (EPS) of 26 cents in first-quarter 2024, down 31.6% year over year. The bottom line missed the Zacks Consensus Estimate by 16.1%.The adjustments include charges and benefits related to the amortization of acquired intangible assets, restructuring costs and asset impairment, among others.The company’s GAAP EPS was 14 cents in the quarter compared with the year-ago quarter’s figure of 25 cents.Revenues in DetailRevenues totaled $623.6 mi ...

Financial Data and Key Metrics Changes - In Q1 2024, the company reported sales of $623.6 million, representing a slight decrease compared to Q1 2023. Adjusted for currency exchange rates, core sales grew by 0.4% [21][22] - The adjusted EBITDA margin for the quarter was 14%, which is 420 basis points lower than in Q1 2023, primarily due to lower gross margins and significant investments in Spark and North American implants [22][36] - Adjusted diluted EPS was $0.26, down from $0.38 in the same period last year [22] Business Line Data and Key Metrics Changes - The orthodontic business saw over 15% growth, driven by strong performance in Spark Clear Aligners, with double-digit sequential growth in the number of active doctors [15][38] - The implant business experienced a modest decline, with strong growth in China offset by weaker demand in North America and Western Europe [16][23] - The Specialty Products and Technologies segment had a core revenue increase of 0.8%, with solid growth in Western Europe and emerging markets, but declines in North America [45] Market Data and Key Metrics Changes - Developed markets declined by 1.7%, with North America and Western Europe showing similar declines, while emerging markets grew by 10.2%, particularly strong in China [73] - Patient demand in North America remains resilient, but there is a shift towards basic hygiene and restorative treatments, with muted demand for higher-end specialty procedures [37][38] Company Strategy and Development Direction - The company aims to accelerate its orthodontic business and improve the commercial execution in North America, with a goal to achieve market growth by the end of 2024 [51][80] - Investments are being made to enhance the implant business, including adding over 60 sales and marketing resources and increasing training and education activities [75] - The company is focused on utilizing its diagnostics and digital capabilities to differentiate itself and win customers, with a commitment to continuous improvement and cost optimization [50][81] Management's Comments on Operating Environment and Future Outlook - The management remains cautiously optimistic about demand trends in 2024, believing that patients will prioritize dental care and clinicians will invest in digitizing their practices [15][36] - The leadership transition is seen as an opportunity to assess the current situation and build a viable plan for the remainder of the year [55] - The company is confident in its ability to create long-term value, supported by solid growth trends in the dental market [50][52] Other Important Information - The company generated free cash flow of $29.3 million in Q1, a significant improvement compared to the previous year, driven by better vendor management and lower CapEx [78] - The company is committed to reducing structural costs by an additional $30 million annually, with full impact expected in 2025 [81] Q&A Session Summary Question: Guidance for 2024 and second quarter - Management indicated that due to the leadership transition, guidance for 2024 would be assessed by the new CEO, but the focus remains on accelerating the orthodontic business and improving the North American implant business [55] Question: Level of spending on investments - Approximately $10 million was invested in Q1 across various areas, with about 70% expected to be ongoing costs and 30% being one-time expenses [57][90] Question: Market growth expectations for implants - The market growth for implants is expected to be around 3% to 5%, with the company aiming to close the gap in North America by the end of the year [94] Question: Pricing trends in the North American implant market - Management has not observed significant price erosion in the premium implant segment, despite challenges in the market [66][110] Question: Growth in China and VBP impact - Sales in China increased by over 50% in Q1, with expectations for continued growth despite the anticipated introduction of VBP for orthodontics in the second half of 2024 [119]

Envista (NVST) reported $623.6 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 0.6%. EPS of $0.26 for the same period compares to $0.38 a year ago.The reported revenue represents a surprise of -0.87% over the Zacks Consensus Estimate of $629.06 million. With the consensus EPS estimate being $0.31, the EPS surprise was -16.13%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...