Envista Holdings Corp Stock Price, News & Analysis

Envista Holdings (NYSE: NVST) reported Q2 2024 results with sales of $633.1 million and a core sales decline of 3.2% compared to Q2 2023. The company posted a net loss of $1,151.6 million ($6.69 per share), including a $1,153.8 million non-cash charge for goodwill and intangible asset impairment. Adjusted net income was $18.5 million ($0.11 per diluted share), down from $76.2 million ($0.43 per diluted share) in Q2 2023. Adjusted EBITDA decreased to $63.0 million from $126.2 million year-over-year.

CEO Paul Keel acknowledged underperformance and outlined steps to reposition the company, including new leadership hires and growth investments. For full-year 2024, Envista expects core sales to decline 1-4% and adjusted EBITDA margins of 10-12%, with further decline in Q3 before returning to growth in Q4.

Envista Holdings (NYSE: NVST) has announced three key leadership appointments, effective in July and August 2024. Eric Hammes joins as Chief Financial Officer, bringing over 25 years of operational and financial leadership experience from Rockwell Automation and 3M. Stefan Nilsson becomes President of Nobel Biocare, with a background as CEO of Colosseum Dental Group and GrandVision Brazil. Veronica Acurio is appointed President of Orthodontics, joining from Solventum with extensive experience in global healthcare businesses, including leadership roles at 3M.

These appointments aim to strengthen Envista's position in dental implants, orthodontics, and overall financial performance. CEO Paul Keel expressed confidence that these leaders will help accelerate growth, expand margins, and advance the company's portfolio in the dental industry.

Envista Holdings (NYSE: NVST) will announce its second quarter 2024 financial results on Wednesday, August 7, 2024. The company has scheduled a conference call for the same day at 2:00 PM PT to discuss these results. The call will include a slide presentation and will be available via webcast on the 'Investors' section of Envista's website. A replay of the webcast will be accessible shortly after the call and will be available for one year. To join the call, dial 800-579-2543 (U.S.) or +1 785-424-1789 (international) and refer to conference ID #9467851. Presentation materials will be available on the company's website before the call.

Envista Holdings (NYSE: NVST) and its charitable branch, the Envista Smile Project, announced a $2.1 million donation to the University of Southern California's (USC) Herman Ostrow School of Dentistry.

This donation aims to support the Dental Health Equity and Access to Care Initiative, focusing on underserved communities, particularly children with special needs in California. The three-year donation will provide essential oral health equipment, products, and technology updates. It will also expand the USC Pediatric Clinic and Mobile Clinic, enhancing services for special needs patients, telehealth, and general care for vulnerable populations.

This partnership includes other philanthropic endeavors, like medical mission trips staffed by USC students and faculty, to bring oral care to international communities in need.

Envista Holdings (NYSE: NVST) announced its participation in the Stifel Jaws & Paws Conference, scheduled for May 29, 2024. The event will include a Fireside Chat from 4:10 to 4:40 pm ET. An audio-only recording of the session will be available on the company's Investor Relations website for up to 365 days after the event.

Envista Holdings (NYSE: NVST) reported sales of $623.6 million for the first quarter of 2024, with a 0.4% increase in core sales compared to 2023. Net income was $23.6 million, adjusted net income $45.8 million, and adjusted EBITDA $87.2 million. The company appointed Paul Keel as the new CEO. Envista remains focused on growth and profitability with a strong outlook for the future.