Envista (NVST) Q3 Earnings and Revenues Beat Estimates

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]