Envista (NVST) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.13%. A quarter ago, it was expected that this maker of dental products would post earnings of $0.33 per share when it actually produced earnings of $0.29, delivering a surprise of -12.12%.Over the last four quarters, t ...

Envista Reports First Quarter 2024 Results Exhibit 99.1 Brea, California, May 1, 2024 – Envista Holdings Corporation (NYSE: NVST) today announced results for the first quarter of 2024. For the quarter ended March 29, 2024, reported sales were $623.6 million. Core sales in the quarter increased 0.4% over the corresponding quarter in 2023. For the first quarter of 2024, net income was $23.6 million or $0.14 per diluted share. During the same period, adjusted net income was $45.8 million or $0.26 per diluted s ...

BREA, Calif., April 15, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) announced today the appointment of Paul Keel as Chief Executive Officer and a member of the Board of Directors effective May 1, 2024. He succeeds Amir Aghdaei, who will continue to support the transition as a senior advisor. "Paul's strong track record as CEO of a public, diversified, global innovation company makes him the right leader for Envista at this stage in our growth journey," said Scott Huennekens, chairman of E ...

BREA, Calif., April 11, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") announced today that the Envista Smile Project (Smile Project) donated $1.2 million in 2023 as part of the non-profit's commitment to expanding and improving access to oral health for those in need.  Donations in 2023, which include contributions from Envista employees, more than doubled over 2022. Since its founding in 2021, the Envista Smile Project has provided more than $2.2 million in value of goods and s ...

BREA, Calif., April 4, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") will report financial results for its first quarter 2024 on Wednesday, May 1, 2024. Envista will discuss these results on a conference call on the same day beginning at 2:00 PM PT and lasting approximately one hour.  The call and the accompanying slide presentation will be webcast on the "Investors" section of Envista's website, www.envistaco.com. A replay of the webcast will be available shortly after the conc ...

Envista Corporation (NVST) continues to suffer due to unfavorable currency movement. Strong competitors also pose a tough challenge for the company. The stock has a Zacks Rank #5 (Strong Sell) currently.Envista has been grappling with deteriorating international trade, with global inflationary pressure leading to a challenging situation related to raw material and labor costs as well as freight charges and rising interest rates. All these are creating significant pressure on the company’s profitability.Addi ...

BREA, Calif., Feb. 26, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) announced today that the Board of Directors and CEO Amir Aghdaei are formally launching a process to determine a successor for CEO. The Board of Directors has formed a search committee and retained an executive search firm to find qualified external candidates to lead the next phase of Envista. This process is expected to be completed this year. Mr. Aghdaei will remain President and CEO until his successor is appointed. "A ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-K Delaware 83-2206728 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 200 S. Kraemer Blvd., Building E Brea, California (Address of Principal Executive Offices) (Zip Code) 92821-6208 (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, 2023 OR ☐ TRANSITION ...

Envista Holdings Corporation (NVST) reported fourth-quarter 2023 adjusted earnings per share (EPS) of 29 cents, down 44.2% year over year. The bottom line missed the Zacks Consensus Estimate by 12.1%.The adjustments include charges and benefits related to the amortization of acquired intangible assets, goodwill and intangible asset impairment, among others.The company’s loss from continuing operations was $1.27 in the quarter compared with the year-ago quarter’s EPS of 45 cents.For the full year, adjusted e ...

Financial Data and Key Metrics - Q4 2023 sales declined 2.3% to $645.6 million, with core sales down 2% year-over-year [18] - Adjusted EBITDA margin for Q4 2023 was 15.6%, a 530 basis point decline from Q4 2022 [19] - Full-year 2023 adjusted EBITDA margin was 18.1%, with free cash flow generation exceeding $220 million [9] - Q4 2023 free cash flow was $99.9 million, with full-year free cash flow reaching $223.6 million, a $100 million improvement over 2022 [24][54] - Adjusted diluted EPS for Q4 2023 was $0.29, compared to $0.52 in Q4 2022 [49] Business Segment Performance - Specialty Products & Technologies segment grew 4.8% in Q4 2023, driven by strong growth in Western Europe and emerging markets, offset by declines in North America [49] - Orthodontic business grew nearly 15% in Q4, with Spark delivering over 50% year-over-year growth and expected to double by 2026 [11][20] - Implant business declined low-single-digits in 2023, with North America underperforming but showing signs of stabilization in Q4 [11][50] - Equipment & Consumables segment declined 12.4% in Q4, primarily due to cybersecurity issues disrupting North American distribution channels [51] - DEXIS IOS business grew over 30% in Q4, driven by strong unit demand and stabilizing prices [23] Market Performance - Developed markets declined 4.8% in Q4, with strong growth in Western Europe offset by double-digit declines in North America [18] - Emerging markets grew over 9% in Q4, with China sales increasing by almost 15% [48][114] - North America is expected to return to market-level growth by the end of 2024, with targeted investments in commercial execution and marketing [6][57] Strategic Direction and Industry Competition - The company is focused on accelerating orthodontic business growth, reaccelerating implant business growth, and optimizing cost structure through EBS (Envista Business System) [28][29][56] - Investments in Spark and North American implants are expected to support long-term margin expansion [44] - The company is leveraging premium and value implant franchises globally, with a focus on regenerative and prosthetic offerings [28] - The dental market is described as attractive, underpenetrated, and with solid growth trends, despite near-term macroeconomic uncertainties [26] Management Commentary on Operating Environment and Future Outlook - Management remains cautious about near-term demand for high-end dental procedures, citing macroeconomic uncertainties, inflation, and geopolitical risks [10][32][38] - For 2024, the company expects core sales to grow low-single-digits and adjusted EBITDA margins to range between 16% to 17%, with margins accelerating throughout the year [27][62] - The company anticipates stabilizing inventory levels and normalized sales growth in 2024, with a focus on improving free cash flow management [22][54] Other Key Information - The company recorded a $258.3 million non-cash impairment charge in Q4, primarily due to higher discount rates and macroeconomic volatility [47] - Two recent acquisitions, DEXIS IOS and Osteogenics, saw accelerated growth in 2023 and are positioned for future growth [17] - The company postponed its Investor Day to provide a more comprehensive update with the full leadership team in place [58][64] Q&A Session Summary Question: Impact of macroeconomic environment on demand [32] - Management expects 2024 to remain challenging, with demand for high-end dental procedures below long-term growth expectations due to economic uncertainty, inflation, and cautious capital spending by DSOs and clinicians [32] Question: Margin guidance and long-term outlook [84][85] - Management acknowledged disappointing margin guidance for 2024, citing unfavorable mix, Spark growth, and investments in North American implants as key factors [84] - Long-term margin expansion remains a priority, with expectations of improvement as Spark margins normalize and North American implant business stabilizes [85] Question: Pricing strategy for premium implants [90][94] - Management clarified that pricing is not the primary issue for premium implants in North America, with the focus being on improving customer experience, training, and community engagement [94] Question: China market outlook [114][115] - China sales grew 15% in Q4 2023, but full-year performance was flat due to COVID and VBP impacts [114] - The company expects strong growth in Q1 2024 due to easier comps but anticipates challenges in Q2-Q4 as comparisons normalize [114] Question: Gross margin and operating expense breakdown [129] - Management attributed the decline in EBITDA margins to a combination of lower gross margins and ongoing investments in growth initiatives, with expectations of sequential improvement throughout 2024 [129]