Envista(NVST)2025-05-01 20:10Financial Performance - Q1 2025 sales were 18 million, down from 0.10[3][16] - Adjusted EBITDA for Q1 2025 was 0 million, compared to 5) million[4] - Adjusted earnings per share are projected to range between 1.05 for the full year[13] - Net income for the three months ended March 28, 2025, was 23.6 million for the same period in 2024[23] - Gross profit decreased to 356.3 million year-over-year[23] - Adjusted net income was 45.8 million in the prior year, reflecting a decline of 7.5%[28] - Total sales for the three months ended March 28, 2025, were 623.6 million in the same period last year[25] - Free cash flow was negative at 29.3 million in the prior year[32] - Adjusted EBITDA for the quarter was 87.2 million, representing a decrease of 9.4%[30] - Operating cash flow was 40.3 million in the same quarter of 2024[23] - The company reported a total operating profit of 48.1 million year-over-year[23] Sales and Growth - The company maintains its 2025 guidance of core sales growth between 1% to 3%[6] - Positive growth was noted in Equipment & Consumables, with growth in the Consumables business offsetting softness in the Diagnostics market[7] - The company reported a modest contraction in Specialty Products & Technologies, with growth in Nobel Biocare and Spark clear aligners offset by contraction in Ortho in China[7] - Core sales growth was 0.2%, with total sales growth impacted by currency exchange rates positively by 1.4%[31] Cash and Assets - The ending balance of cash and cash equivalents increased to 948.5 million year-over-year[21] - Total assets as of March 28, 2025, were 5,350.5 million at the end of 2024[19] Non-GAAP Measures - Envista's management uses non-GAAP measures to evaluate operating and financial performance, providing insights into long-term profitability trends and revenue performance compared to peers[36] - Adjusted EBITDA is utilized as a supplemental measure for assessing operating performance, excluding interest, taxes, depreciation, amortization, and unusual losses or gains[35] - The company excludes amortization of acquisition-related intangible assets to facilitate consistent comparisons of operating results over time[37] - Core sales exclude the effects of acquisitions and divested product lines, allowing for clearer evaluation of ongoing operations[37] - Free Cash Flow (FCF) is adjusted for capital expenditures to reflect the operating cash flow available for strategic investments[37] - The company reported significant acquisition-related transaction expenses and integration costs, impacting overall financial results[34] - Adjusted Gross Profit, Adjusted Operating Profit, and Adjusted Net Income are key metrics for understanding Envista's profitability trends[35] - The company believes that excluding certain costs provides a clearer view of ongoing operating costs and underlying business trends[35] - Envista's management emphasizes the importance of understanding intangible asset amortization as it contributes to future revenue generation[37] - The company aims to provide investors with a means of evaluating ongoing operations by excluding discontinued products and currency translation impacts[37] Share Repurchase - The company repurchased 1.1 million shares for approximately 231 million remaining under the stock repurchase program[5]