DENTSPLY SIRONA(XRAY)2025-02-27 12:29Financial Performance - Full year 2024 net sales were $3,793 million, a decrease of 4.3% compared to 2023, with organic sales down 3.5% including a 1.2% impact from Byte sales[3]. - Full year 2024 net loss was $910 million, or $4.48 per share, compared to a net loss of $132 million, or $0.62 per share in 2023[3]. - Fourth quarter 2024 net sales were $905 million, a decrease of 10.6% year-over-year, with organic sales down 10.7% including a 6.1% impact from Byte sales[4]. - Fourth quarter 2024 adjusted earnings per diluted share were $0.26, down 41.3% from $0.44 in the fourth quarter of 2023[8]. - The company recorded non-cash impairment charges of $370 million in Q4 2024, primarily affecting the Orthodontic and Implant Solutions and Connected Technology Solutions segments[13]. - The company reported a net loss attributable to Dentsply Sirona of $430 million for Q4 2024, compared to a net income of $67 million in Q4 2023[23]. - For the year ended December 31, 2024, the company reported a GAAP net loss of $910 million, with a diluted EPS of $(4.48)[52]. - The company incurred goodwill and intangible asset impairments totaling $1,014 million for the year ended December 31, 2024, compared to $307 million in 2023[23]. Sales and Revenue Trends - The company anticipates 2025 net sales in the range of $3.50 billion to $3.60 billion, with organic sales expected to decline between 4.0% to 2.0%[15]. - For Q4 2024, total net sales decreased by 10.6% to $905 million compared to $1,012 million in Q4 2023, with U.S. sales down 29.8%[42]. - For the year ended December 31, 2024, total net sales were $3,793 million, a decline of 4.3% from $3,965 million in 2023, with U.S. sales down 6.2%[43]. - Organic sales for Q4 2024 decreased by 10.7% compared to Q4 2023, with U.S. organic sales down 29.9%[42]. - The company experienced a foreign exchange impact on net sales, with a total impact of (0.8%) for the year ended December 31, 2024[43]. Cost Management and Efficiency - Operating cash flow for full year 2024 was $461 million, an increase from $377 million in 2023, driven by improved inventory management[12]. - The company plans to focus on restructuring and cost management strategies to improve future performance[46]. - The company aims to enhance efficiency through restructuring initiatives, which may lead to fluctuating charges in future periods[30]. - Restructuring-related charges and other costs amounted to $123 million in 2023, increasing to $136 million in 2024[57]. Asset and Liability Management - Total assets decreased to $5,753 million as of December 31, 2024, from $7,370 million in 2023, indicating a significant reduction in asset base[24]. - Total liabilities decreased to $3,810 million in 2024 from $4,076 million in 2023, showing improved financial leverage[24]. - Net cash provided by operating activities was $461 million for the year ended December 31, 2024, an increase from $377 million in 2023[25]. Research and Development - Research and development expenses were $165 million for the year ended December 31, 2024, down from $184 million in 2023[23]. Future Projections - Adjusted EPS for 2025 is projected to be between $1.80 and $2.00[15]. - The company expects external market conditions to remain broadly unchanged in 2025, with a focus on transformational initiatives to drive EBITDA margin expansion[5].