Dentsply Sirona Reports Fourth Quarter and Full Year 2024 Results, Provides Full Year 2025 Outlook

Core Viewpoint - Dentsply Sirona reported a significant decline in net sales and increased net losses for both the fourth quarter and full year of 2024, primarily due to macroeconomic pressures and competitive dynamics, despite some improvements in specific business areas [4][10]. Financial Performance Summary - Full year 2024 net sales were $3,793 million, a decrease of 4.3$910 million, or $4.48 per share, compared to a net loss of$132 million, or $0.62 per share in 2023 [2][10]. - Fourth quarter net sales were$905 million, down 10.6% year-over-year, with organic sales decreasing 10.7% [3][10]. - The fourth quarter net loss was $430 million, or$2.16 per diluted share, compared to a net income of $67 million, or$0.32 per share in Q4 2023 [3][10]. Segment Performance - The Connected Technology Solutions segment saw a net sales decline of 8.3% in Q4 and 9.2% for the full year [7]. - Essential Dental Solutions experienced a 3.5% decline in Q4 and a 0.9% decline for the full year [7]. - Orthodontic and Implant Solutions faced a significant drop of 28.6% in Q4 and 6.5% for the full year [7]. - Wellspect Healthcare was a bright spot, with an 8.6% increase in Q4 and 5.9% for the full year [7]. Geographic Performance - In the United States, net sales decreased by 29.8% in Q4 and 6.2% for the full year [8]. - Europe showed resilience with a 2.8% increase in Q4, although it declined by 2.1% for the full year [8]. - The Rest of the World experienced a 3.4% decline in Q4 and a 5.1% decline for the full year [8]. Cash Flow and Liquidity - Operating cash flow for Q4 2024 was $87 million, down from$160 million in Q4 2023, while full year operating cash flow improved to $461 million from$377 million in the prior year [9]. - The company returned $376 million to shareholders through dividends and share repurchases in 2024 [9]. Impairments and Charges - Dentsply Sirona recorded non-cash charges for goodwill and intangible asset impairments of$370 million in Q4 2024, primarily affecting the Orthodontic and Implant Solutions and Connected Technology Solutions segments [11][20]. 2025 Outlook - For 2025, the company anticipates 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% [10][13]. - Adjusted EPS is projected to be between $1.80 and$2.00 [10][13].