NEW YORK, Nov. 30, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Dentsply Sirona Inc. (NASDAQ: XRAY) and certain of the company’s senior executives for potential violations of the federal securities laws. If you invested in Dentsply, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/dentsply-sirona-inc. Investors have until January 27, 2025, to ask the Court to be appoi ...

NEW YORK, Nov. 28, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising --Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Dentsply Sirona Inc. (“Dentsply” or “the Company”) (NASDAQ: XRAY) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Dentspl ...

NEW YORK, Nov. 28, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of common stock of Dentsply Sirona Inc. (NASDAQ: XRAY) between December 1, 2022 and November 6, 2024, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 27, 2025.So what: If you purchased Dentsply common stock during the Clas ...

RADNOR, Pa., Nov. 17, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) (“DENTSPLY”). On October 24, 2024, DENTSPLY issued a press release "announc[ing] the voluntary suspension of sales and marketing of its Byte Aligners and Impression Kits while the Company conducts a review of certain regulatory requirements related to these ...

RADNOR, Pa., Nov. 16, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) ("DENTSPLY").On October 24, 2024, DENTSPLY issued a press release "announc[ing] the voluntary suspension of sales and marketing of its Byte Aligners and Impression Kits while the Company conducts a review of certain regulatory requirements related to these produ ...

Have you assessed how the international operations of Dentsply International (XRAY) performed in the quarter ended September 2024? For this dental products manufacturer, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growt ...

Financial Performance - Dentsply Sirona reported a net loss of $495 million for the three months ended September 30, 2024, compared to a net loss of $266 million for the same period in 2023[11]. - Total comprehensive loss attributable to Dentsply Sirona was $455 million for the three months ended September 30, 2024, versus $303 million for the same period in 2023[11]. - The company reported a net loss of $494 million for the quarter ending June 30, 2024, compared to a net income of $18 million for the previous quarter[15]. - For the nine months ended September 30, 2024, Dentsply Sirona reported a net loss of $482 million, compared to a net loss of $204 million in the same period of 2023[19]. - The total comprehensive loss for the quarter ending June 30, 2024, was $(494) million, reflecting ongoing challenges in the market[15]. - The company reported a basic loss per common share of $(2.35) for the nine months ended September 30, 2024, compared to $(0.94) for the same period in 2023[40]. Cash and Assets - Cash and cash equivalents decreased to $296 million as of September 30, 2024, down from $334 million at December 31, 2023[13]. - Total current assets were $1,921 million as of September 30, 2024, compared to $1,973 million at December 31, 2023[13]. - Dentsply Sirona's total equity decreased to $2,490 million as of September 30, 2024, from $3,294 million at December 31, 2023[13]. - Total liabilities increased to $4,136 million as of September 30, 2024, from $4,076 million at December 31, 2023[13]. - The company had $422 million in notes payable and current portion of long-term debt as of September 30, 2024, compared to $322 million at December 31, 2023[13]. Sales and Revenue - Total net sales for the nine months ended September 30, 2024, were $2,888 million, a decrease of 2.2% from $2,953 million in 2023[26]. - Total net sales for the three months ended September 30, 2024, were $951 million, a slight increase from $947 million in the same period of 2023[45]. - The Essential Dental Solutions segment saw net sales of $1,108 million for the nine months ended September 30, 2024, slightly down from $1,110 million in 2023[26]. - The company faced a $15 million reduction in sales of direct-to-consumer orthodontics products due to legislative changes impacting its business model[174]. Impairments and Restructuring - Dentsply Sirona recorded goodwill and intangible asset impairments of $510 million for the nine months ended September 30, 2024, compared to $307 million in 2023[19]. - The company recorded a goodwill impairment charge of $504 million for the three months ended September 30, 2024, primarily related to Orthodontic Aligner Solutions and Implant & Prosthetic units[195]. - Restructuring costs for the three months ended September 30, 2024, were $23 million, compared to $6 million in the same period of 2023; for the nine months, restructuring costs totaled $45 million, down from $70 million[196]. Segment Performance - Adjusted operating income for Connected Technology Solutions was $16 million for the three months ended September 30, 2024, down from $22 million in 2023, a decrease of 27.3%[46]. - The Essential Dental Solutions segment reported adjusted operating income of $132 million for the three months ended September 30, 2024, compared to $115 million in 2023, an increase of 14.8%[46]. - Orthodontic and Implant Solutions segment adjusted operating income decreased due to unfavorable geographic mix, higher distribution and manufacturing costs, increased advertising and selling costs, and higher headcount[201]. Legal and Compliance - The Company is involved in multiple legal proceedings, including a putative class action alleging violations of U.S. securities laws related to revenue recognition from June 9, 2021, to May 9, 2022[111]. - The Company has received a shareholder derivative suit alleging breaches of fiduciary duties and insider trading by current and former executives, with similar claims across multiple derivative litigations[113][116][118]. - The Company intends to vigorously defend against all pending lawsuits, although it acknowledges that legal expenses may be significant[123]. Market Conditions and Outlook - The Company expects continued inflationary pressure on raw material and wage costs through the remainder of 2024, impacting margins[152]. - Germany represented 10% of the Company's sales for the nine months ended September 30, 2024, with ongoing recessionary pressures affecting demand for new dental equipment[153]. - The company anticipates that distributor inventory levels for consumable products will return to historical averages by the end of the fourth quarter of 2024[179].

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $951 million, representing a 0.5% increase on a reported basis and a 1.3% increase on an organic basis compared to the prior year quarter [24][12] - Adjusted EPS for the quarter was $0.50, up 3% versus the prior year quarter, driven by the timing of distributor orders and a lower share count [27] - EBITDA margins declined by 40 basis points year-over-year due to a gross margin decline from unfavorable product mix shift and lower volume [26] Business Line Data and Key Metrics Changes - Essential Dental Solutions segment saw organic sales increase by 7.5%, primarily driven by U.S. distributor orders [29] - Orthodontic and Implant Solutions segment experienced a 3.9% decline in organic sales, with SureSmile growing by 6% [30] - Connected Technology Solutions segment's organic sales declined by 1.4% year-over-year, despite mid-single-digit growth in CAD/CAM due to the launch of Primescan 2 [32] Market Data and Key Metrics Changes - U.S. organic sales increased by 5.1%, primarily due to the timing of distributor orders [35] - European organic sales declined by 2%, impacted by lower demand for implants and equipment, although SureSmile grew over 20% [37] - Rest of world organic sales grew by 0.6%, with growth in implants offset by declines in equipment and instruments [38] Company Strategy and Development Direction - The company announced a voluntary suspension of sales and marketing for Byte aligners while conducting a regulatory review [9][52] - A revised full-year 2024 outlook was provided, expecting organic sales to decline by 2.5% to 3.5% [39] - The company is focusing on innovation and digital connectivity, with significant investments in SureSmile and DS Core capabilities [19][17] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the overall macroeconomic environment, noting pressures on implants and equipment [13] - A customer survey indicated flat patient traffic in the U.S. and Germany, with declines in Japan and China [14] - Management emphasized the importance of transparency and swift action in response to the Byte situation [11][61] Other Important Information - A non-cash after-tax charge of approximately $500 million related to goodwill was recorded in Q3, impacting the Orthodontic and Implant Solutions segment [23] - The company completed $100 million in share repurchases in Q3, bringing the year-to-date total to $345 million [28] Q&A Session Summary Question: Update on Byte suspension duration and cost implications - Management indicated that the review process for Byte is ongoing and may take time, with significant cost reductions already implemented [60][61] Question: Performance across value versus premium implants - Management noted a decline in value implants for the first time this year, impacted by various external factors [64][66] Question: Germany's sales significance and macroeconomic investment strategy - Germany represents about 10% of total business, and management emphasized the need for strategic investments despite current macro challenges [70] Question: Byte business impact on Q4 and future guidance - Management confirmed that the Byte business will significantly impact Q4 revenue, with all shipments halted post-October 24 [79] Question: Distribution channel dynamics and stocking issues - Management reaffirmed reliance on distributors and ongoing discussions to resolve any points of contention [101]

DENTSPLY SIRONA Inc. (XRAY) reported third-quarter 2024 adjusted earnings per share (EPS) of 50 cents, which beat the Zacks Consensus Estimate of 48 cents by 4.2%. The bottom line increased 2% on a year-over-year basis.On a GAAP basis, the company reported a loss of $2.46 per share compared with $1.25 per share in the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Revenue DetailsRevenues in the reported quarter totaled $951 million, surpassing the Zacks Consensus E ...

Dentsply Sirona Inc. XRAY shares are trading lower on Thursday.The company reported third-quarter adjusted earnings per share of 50 cents, beating the street view of 47 cents. Quarterly sales of $951 million (increased 0.5%) outpaced the analyst consensus estimate of $939.10 million.The company recorded a $495 million non-cash goodwill impairment charge in the Orthodontic and Implant Solutions segment. This was due to ongoing economic challenges, legislative changes affecting Byte, weaker demand, increased ...