BREA, Calif., Nov. 20, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) today announced the release of its 2023 Sustainability Report, outlining its continued efforts to integrate environmental, social, and governance (ESG) considerations into its mission to digitize, personalize, and democratize dental care. The full report can be found HERE."Our efforts to promote improved environment, social, and governance initiatives are central to how we support our stakeholders. Through the lens of our ...

BREA, Calif., Nov. 19, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") today announced that the company will participate in a fireside chat at the Evercore HealthCONx Conference on Tuesday, December 3, 2024 from 12:30 – 1:15 pm ET at the Loews Coral Gables Hotel in Coral Gables, Florida. There will be an audio-only recording link that can be viewed on Envista's Investor Relations website for up to 365 days post event.ABOUT ENVISTA HOLDINGS CORPORATIONEnvista is a global family of ...

Financial Data and Key Metrics Changes - Reported sales for Q3 2024 were $601 million, with core sales declining 5.3% year-over-year after adjusting for currency exchange rates [17] - Adjusted gross margin was 52.8%, down 490 basis points compared to the prior year [23] - Adjusted EBITDA margin for the quarter was 9.1%, which is 10.5 percentage points lower than the previous year [23] - Adjusted diluted EPS in Q3 was $0.12, compared to $0.43 in Q3 2023 [23] - Free cash flow for the quarter was $63 million, down from $77 million in Q3 of the previous year, but year-to-date free cash flow was $179 million, up 45% year-over-year [37] Business Line Data and Key Metrics Changes - Specialty products and technology segment saw a core revenue decline of 5.2% year-over-year, with orthodontic business declining low double digits due to Spark revenue deferral impact [30] - Implant growth was flat year-over-year, with North America showing improvement as the gap relative to market continued to close [32] - Equipment and consumables segment core sales decreased by 5.6% year-over-year, with diagnostics business declining mid-single digits, although North America grew for the third consecutive quarter [34] Market Data and Key Metrics Changes - North America business declined mid-single digits, while West Europe declined high single digits [21] - China business declined low double digits, primarily due to weaker diagnostic sales [22] - The overall dental market was generally flat, with some segments like implants showing slight growth [12] Company Strategy and Development Direction - The company reaffirmed its full-year guidance of negative 1% to negative 4% core growth and 10% to 12% adjusted EBITDA margins, expecting a return to growth in Q4 [39] - Focus on rebuilding operational capabilities and improving execution rhythm, with significant investments in leadership and the Envista Business System [41] - Continued commitment to innovation and customer engagement, with various events held to strengthen relationships with clinicians [42] Management's Comments on Operating Environment and Future Outlook - Management noted that while the dental market remains soft, there are early signals of potential improvement, such as decreasing interest rates and high unmet patient demand [47] - The company is focused on systematically improving performance and rebuilding its execution foundation [48] - Long-term outlook for the Chinese market remains positive despite current volatility [80] Other Important Information - The Spark revenue deferral change had a significant impact on Q3 results, with $27 million lower revenue due to this change [18] - The company is actively managing channel inventory, which has resulted in lower revenue but supports a healthier supply chain [20] Q&A Session Summary Question: Can you talk about whether this was a function of markets improving or just cautious execution? - Management indicated that market growth remains slow, and the performance was more about improving execution rather than market conditions [46] Question: Was there any catch-up provisions in the Spark deferral this quarter? - Management confirmed there were no changes in the deferral rate from Q2 to Q3, and the impact was primarily due to timing [65] Question: How do you think about the investments going forward? - Management stated that investments are necessary for growth and will continue into 2025, with a focus on high-return areas [76] Question: What are the areas of strength versus weakness in China? - Management expressed confidence in the long-term potential of the Chinese market, despite current geopolitical and economic volatility [80] Question: Can you provide insights on the implant organization and investments? - Management highlighted that significant investments have been made in commercial activities, which have positively impacted performance in North America [110]

Core Insights - Envista (NVST) reported $601 million in revenue for Q3 2024, a year-over-year decline of 4.8%, with an EPS of $0.12 compared to $0.43 a year ago, exceeding the Zacks Consensus Estimate of $592.28 million by 1.47% and delivering an EPS surprise of 33.33% [1] Revenue Performance - North America sales were $319.50 million, below the average estimate of $324.05 million, reflecting a year-over-year decline of 3.8% [3] - Western Europe sales reached $109.30 million, compared to the estimated $119.67 million, marking an 8.5% decrease year-over-year [3] - Emerging markets generated $140.90 million, surpassing the average estimate of $124.46 million, but still showing a 5.7% decline year-over-year [3] - Other developed markets reported $31.30 million, exceeding the estimate of $28.93 million, with a year-over-year increase of 3% [3] Segment Analysis - Specialty Products & Technologies in North America generated $165.30 million, slightly below the estimate of $170.18 million, reflecting a 2.8% decline year-over-year [3] - Equipment & Consumables in emerging markets reported $31.40 million, exceeding the estimate of $23.63 million, but showing a significant 16% decline year-over-year [3] - Specialty Products & Technologies in other developed markets reached $21.70 million, slightly above the estimate of $21.05 million, with a year-over-year decline of 1.4% [3] - Equipment & Consumables in North America reported $154.20 million, slightly above the estimate of $153.87 million, reflecting a 4.8% decline year-over-year [3] - Equipment & Consumables in Western Europe reached $24.10 million, exceeding the estimate of $21.83 million, with no change year-over-year [3] Stock Performance - Envista's shares have returned -2.8% over the past month, while the Zacks S&P 500 composite has increased by 1.8%, with the stock currently holding a Zacks Rank 3 (Hold) [4]

Core Insights - Envista (NVST) reported quarterly earnings of $0.12 per share, exceeding the Zacks Consensus Estimate of $0.09 per share, but down from $0.43 per share a year ago, indicating an earnings surprise of 33.33% [1] - The company generated revenues of $601 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.47%, but down from $631.3 million year-over-year [2] - Envista has underperformed the market, with shares down approximately 21.9% year-to-date compared to the S&P 500's gain of 22.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.24 on revenues of $647.76 million, and for the current fiscal year, it is $0.69 on revenues of $2.5 billion [7] - The estimate revisions trend for Envista is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Medical - Products industry, to which Envista belongs, is currently ranked in the top 25% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - The performance of Envista's stock may be influenced by the overall industry outlook, as empirical research shows a strong correlation between near-term stock movements and earnings estimate revisions [5]

Core Viewpoint - The market anticipates a year-over-year decline in Envista's earnings due to lower revenues, with a focus on how actual results compare to estimates impacting stock price [1] Earnings Expectations - Envista is expected to report quarterly earnings of $0.09 per share, reflecting a year-over-year decrease of 79.1% [2] - Projected revenues for the quarter are $592.28 million, down 6.2% from the same quarter last year [2] Estimate Revisions - The consensus EPS estimate has been revised 3.77% higher in the last 30 days, indicating a reassessment by analysts [3] - The Most Accurate Estimate for Envista is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +2.86% [6] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP reading can indicate a likely earnings beat, particularly when combined with a strong Zacks Rank [4][5] - Envista currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat despite the positive Earnings ESP [6] Historical Performance - In the last reported quarter, Envista was expected to post earnings of $0.27 per share but only achieved $0.11, resulting in a surprise of -59.26% [7] - The company has not beaten consensus EPS estimates in any of the last four quarters [7] Conclusion - While an earnings beat could influence stock movement, other factors may also play a significant role in stock performance [8] - Envista does not appear to be a strong candidate for an earnings beat, suggesting investors should consider additional factors before making decisions [8]

BREA, Calif., Oct. 7, 2024 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") will report financial results for its third quarter 2024 on Wednesday, October 30, 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 c ...

Group 1 - Envista Holdings Corporation will participate in the Baird 2024 Global Healthcare Conference on September 11, 2024, from 10:50 – 11:20 am ET [1] - The company is a global family of over 30 trusted dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr [2] - Envista aims to improve lives by partnering with professionals to enhance patient care through industry-leading dental consumables, solutions, technology, and services [2] Group 2 - Envista's comprehensive portfolio includes dental implants, orthodontics, and digital imaging technologies, addressing a wide range of clinical needs [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]

Core Insights - Envista's international operations are crucial for assessing its financial strength and growth potential, especially given its global presence [1][2] Group 1: Financial Performance - For the quarter ending June 2024, Envista reported total revenue of $633.1 million, a decline of 4.4% year over year [4] - Western Europe contributed 21.7% of total revenue, amounting to $137.5 million, which was a surprise decline of 5.88% compared to expectations [5] - Other developed markets generated $28.7 million, representing 4.5% of total revenue, also falling short of the consensus estimate by 11.63% [6] Group 2: Revenue Projections - Analysts project total revenue for the current fiscal quarter to be $612.2 million, reflecting a 3% decline from the same quarter last year [7] - For the full year, total revenue is expected to reach $2.53 billion, indicating a 1.5% decrease from the previous year [8] - Revenue contributions are anticipated to be 20.3% from Western Europe ($124.41 million) and 5% from Other developed markets ($30.84 million) [7] Group 3: Market Dynamics - The reliance on international markets presents both opportunities and challenges for Envista, necessitating close monitoring of revenue trends to forecast future performance [9] - The interconnected global economy and geopolitical tensions are influencing earnings predictions for companies with overseas operations [10]

Core Points - Envista Holdings Corporation reported adjusted earnings per share (EPS) of 11 cents for Q2 2024, a decline of 74.4% year over year, missing the Zacks Consensus Estimate by 59.3% [1] - The company's GAAP loss was $6.69 compared to earnings of 29 cents in the same quarter last year [2] - Revenues totaled $633.1 million, down 4.4% year over year, and missed the Zacks Consensus Estimate by 2.3% [3] Revenue Breakdown - Specialty Products & Technologies segment generated $415.1 million, a decrease of 0.5% year over year [4] - Equipment & Consumables segment revenues fell 11.2% year over year to $218 million [4] Operational Performance - Gross profit decreased by 13.7% year over year to $326.6 million, with gross margin contracting by 557 basis points to 51.6% due to a 4.4% decline in sales and an approximately 8% rise in cost of sales [5] - Operating profit plummeted 99% year over year to $48.1 million, with the operating margin contracting by 1183 basis points to 0.8% [6] Financial Position - Cash and cash equivalents at the end of Q2 2024 were $1.04 billion, up from $948.5 million at the end of Q1 2024 [7] - Long-term debt remained unchanged at $1.39 billion [7] - Year-to-date net cash provided by operating activities was $133.4 million, an increase from $78.2 million a year ago [7] 2024 Guidance - The company expects core sales to decline between 1% and 4% and adjusted EBITDA margins to be in the range of 10%-12% for 2024 [8] - A further decline is anticipated in Q3 before returning to growth in Q4 [8] - The current Zacks Consensus Estimate for full-year revenues is $2.56 billion, suggesting a 0.3% decline from the previous year [8] Market Context - Envista's Spark division reported slowed sales growth due to deferring a larger portion of case revenues, impacting quarterly sales despite case starts growing above market levels [10] - Diagnostics sales contracted in high single digits due to the higher interest rate environment and exiting lower priority, price-sensitive geographic markets [11]