Financial Performance - For the year ended December 31, 2020, total sales decreased by 17.1% to $2,282.0 million compared to $2,751.6 million in 2019[315]. - Core sales decreased by 14.8% in 2020, primarily due to the impact of COVID-19, with significant declines in North America and Western Europe[321]. - Gross profit for 2020 was $1,158.1 million, representing a gross margin of 50.7%, down from 55.0% in 2019[315]. - SG&A expenses were $1,024.0 million, accounting for 44.9% of total sales, a decrease from 39.3% in 2019[315]. - R&D expenses decreased by 34.8% to $100.8 million, representing 4.4% of total sales in 2020[315]. - Operating profit plummeted by 88.0% to $33.3 million, with an operating margin of 1.5% compared to 10.1% in 2019[315]. - The effective tax rate for 2020 was 210.6%, significantly higher than 21.0% in 2019, resulting in a net income of $33.3 million[315]. - Comprehensive income for 2020 decreased by $65.9 million compared to 2019, primarily due to lower net income[342]. Market Expansion and Sales Growth - The Greater China region's sales grew from less than $30 million in 2011 to $235 million in 2020, indicating significant market expansion[34]. - The U.S. implant penetration lags behind developed markets like Germany and Spain, presenting a growth opportunity[40]. - The global dental products market is expected to grow due to increasing demand for cosmetic dentistry and the rise of Dental Service Organizations (DSOs)[41]. - Emerging markets, particularly Greater China, represented 22% of total sales in 2020, indicating strong growth potential in these regions[43]. - Sales in China grew at a high-single digit compounded annual growth rate from 2018 through 2020, highlighting the potential in emerging markets[293]. Product Innovation and Development - Over 20% of sales in the Orthodontics segment came from products launched in the past three years, showcasing strong innovation[34]. - The company aims to strategically invest in innovation to maintain long-term market leadership in the dental products industry[34]. - The company launched over 30 new products since the acquisition of Nobel in 2014, enhancing its product offerings[48]. - The N1 implant system was recently launched in Europe, expected to simplify implant procedures and drive growth[47]. - Ormco's Spark clear aligner system is designed for mild to complex malocclusion and is anticipated to provide growth opportunities over the next several years[49]. COVID-19 Impact and Response - The company experienced widespread temporary closures of dental practices globally due to COVID-19, with overall patient volume remaining below pre-pandemic levels[29]. - The COVID-19 pandemic led to widespread temporary closures of dental practices, significantly impacting sales and manufacturing capacity[285]. - The company has implemented significant health and safety procedures in response to the COVID-19 pandemic, including daily health screenings and mandatory face masks[73]. - The company has implemented various cost reduction initiatives, including employee furloughs and delaying capital expenditures, in response to the pandemic[285]. Regulatory and Compliance Issues - The company is subject to extensive FDA regulations, including compliance with Current Good Manufacturing Practices (cGMP) and post-market surveillance regulations[86][87]. - The company’s medical devices are classified as Class I or Class II in the U.S., with most Class II devices marketed under 510(k) pre-marketing clearances[81]. - The FDA has classified dental amalgam as a Class II medical device, confirming its safety and effectiveness for adults and children aged six and above[83]. - The company must adhere to various healthcare-related laws, including the Federal Anti-Kickback Statute and the False Claims Act, which regulate fraud and abuse in healthcare[90][93]. - The Health Information Technology for Economic and Clinical Health (HITECH) Act strengthens HIPAA compliance requirements and increases enforcement activity against violations[98]. Financial Position and Cash Management - As of December 31, 2020, the company held $888.9 million in cash and equivalents, with $478.3 million in the U.S. and $410.6 million held internationally[383]. - The company had total contractual obligations of $2,219.7 million as of December 31, 2020, including $1,904.1 million in debt[386]. - The company plans to use available cash and internally generated funds to meet cash requirements, with potential access to new credit facilities if needed[383]. - Net cash provided by operating activities was $283.9 million in 2020, down from $397.5 million in 2019, mainly due to lower net income[370]. - Net cash provided by financing activities was $492.5 million in 2020, a significant increase from $107.7 million used in 2019, primarily due to proceeds from the issuance of convertible senior notes[374]. Workforce and Employment - The company employs approximately 12,400 persons, with about 3,100 in the U.S. and 9,300 outside the U.S.[66]. - Approximately 52% of the company's products were distributed through third-party distributors in 2020[60]. Intellectual Property and Patents - The company holds over 2,000 granted patents, indicating a strong intellectual property portfolio[65].

Fourth Quarter 2020 Earnings Presentation February 10, 2021 ூ Envista Forward Looking Statements Certain statements in this presentation are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factor ...

Financial Data and Key Metrics Changes - Fourth quarter sales increased 1.6% to $732 million, with core sales up approximately 3.4% year-over-year, marking a sequential improvement from previous quarters [21][22] - Adjusted EBITDA grew by 23% to $151 million, with adjusted diluted EPS of $0.56, an increase of approximately 24% compared to the same period in the prior year [24][25] - Free cash flow for the full year exceeded $241 million, with more than $185 million generated in the fourth quarter, reflecting an 8.5% increase from the comparable period in 2019 [25] Business Line Data and Key Metrics Changes - The Infection Prevention business grew more than 40% in the fourth quarter, contributing over 200 basis points to overall revenue growth [10][11] - The orthodontic business experienced mid-teen growth, with brackets and wires growing approximately 10% [27] - Specialty Products & Technologies segment sales were up 4.4%, while core revenue increased 2.2% [27] Market Data and Key Metrics Changes - Sales in developed markets grew at a mid-single digit rate, with North America increasing low single digits and Japan growing at a double-digit rate [22] - Emerging markets, particularly China, saw growth of more than 20%, while other emerging markets declined over 10% due to COVID-19 [23] - The company reported that private sector revenues increased more than 25% in 2020, while public sector revenues focused on increasing formulary access for premium products [23] Company Strategy and Development Direction - The company aims to invest more than $30 million in 2021 to enhance Spark manufacturing capabilities and expand commercial initiatives in implants and orthodontics [19] - The strategic focus is on consumables and clinical workflow products, with over 85% of revenue now concentrated in these areas [37] - The company plans to maintain cost discipline while repositioning its portfolio for accelerated growth and thoughtful capital deployment [42] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the near-term outlook of the dental market, with expectations of stable conditions continuing from the fourth quarter [38] - The company anticipates strong performance in infection prevention to drive double-digit growth in consumables, while equipment is expected to remain below pre-COVID levels [39] - Management highlighted the importance of innovative solutions like Spark and N1 in enhancing productivity and predictability in dental procedures [41] Other Important Information - The company has repaid $472 million of bank debt, improving its financial flexibility [19] - Adjusted gross margin increased to 54.4%, driven by favorable product mix and productivity initiatives [24] - The company has added significant manufacturing capacity, tripling its capacity compared to the beginning of the year [14] Q&A Session Summary Question: Revenue outlook and geographic details - Management indicated that while they are pleased with Q4 results, providing guidance for 2021 remains challenging due to uncertainties related to the pandemic [48] Question: Margins and operating performance - Management expects to maintain better than 2019 levels for operating margins, with a focus on cost savings and investments [50][52] Question: Growth in wires and brackets - The company noted that their wires and brackets business has been growing mid-single digits prior to the pandemic, with significant share gains in various markets [59][60] Question: Infection prevention contribution - Management stated that the infection prevention business is expected to continue double-digit growth, with a significant backlog and increased capacity [76][78] Question: N1 and implants ramp-up - The company is optimistic about the N1 implant system's adoption, with training for over 1,000 doctors and a positive response so far [80][81] Question: Selling days impact on Q1 - Management indicated that the impact of selling days on Q1 is minimal, with expectations for continued ramp-up in patient volumes [92]

Envista Holdings Corporation (NYSE:NVST) Q3 2020 Earnings Conference Call October 29, 2020 5:00 PM ET Company Participants John Bedford - Vice President, Investor Relations Amir Aghdaei - President & Chief Executive Officer Howard Yu - Chief Financial Officer Conference Call Participants Jeff Johnson - Baird Elizabeth Anderson - Evercore Jon Block - Stifel Nathan Rich - Goldman Sachs Eleni Apostolatos - JPMorgan John Kreger - William Blair Jason Bednar - Piper Sandler Erin Wright - Credit Suisse Operator My ...

Envista Holdings Corporation (NYSE:NVST) Q2 2020 Earnings Conference Call July 30, 2020 5:00 PM ET Â Company Participants John Bedford - VP of IR Amir Aghdaei - President and CEO Howard Yu - CFO Conference Call Participants Elizabeth Anderson - Evercore Jeff Johnson - Baird Jon Block - Stifel Elena Jouronova - JPMorgan John Krieger - William Blair Nathan Rich - Goldman Sachs Operator My name is Stephanie and I will be your conference facilitator today. At this time, I would like to welcome everyone to the E ...

Envista Holdings Corporation (NYSE:NVST) Q1 2020 Earnings Conference Call May 12, 2020 8:30 AM ET Company Participants John Bedford - Vice President, Investor Relations Amir Aghdaei - President and Chief Executive Officer Howard Yu - Chief Financial Officer Conference Call Participants Jeff Johnson - Baird Tycho Peterson - JPMorgan Elizabeth Anderson - Evercore Nathan Rich - Goldman Sachs Jon Block - Stifel Brandon Couillard - Jefferies Operator Hello. My name is Erica and I will be your conference operator ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39054 ENVISTA HOLDINGS CORPORATION (Exact name of registrant as specified in its charter) (Stat ...

Envista Holdings Corporation (NYSE:NVST) Q4 2019 Earnings Conference Call January 30, 2020 5:00 PM ET Corporate Participants John Bedford - Vice President of Investor Relations Amir Aghdaei - President and Chief Executive Officer Howard Yu - Chief Financial Officer Conference Call participants Tycho Peterson - JPMorgan Elizabeth Anderson - Evercore ISI Jeff Johnson - Baird Jon Block - Stifel Nathan Rich - Goldman Sachs John Kreger - William Blair Brandon Couillard - Jefferies Mason Austen - Morgan Stanley E ...