Dentsply Sirona to Present at J.P. Morgan Healthcare Conference, Provides Update on Anticipated Full Year 2023 Results

Rhea-AI Summary

Dentsply Sirona Inc. (XRAY) to Present at J.P. Morgan Healthcare Conference, Anticipates Strong 2023 Financial Results

Market Research Analyst

The update provided by Dentsply Sirona on its anticipated financial results for the full year 2023 is a strong indicator of the company's performance, particularly as it relates to net sales being at or above the high end of their outlook range. This suggests that the company's operations in the Essential Dental Solutions, Wellspect Healthcare and Orthodontic and Implant Solutions segments have been robust, contributing positively to the overall revenue growth. However, the decline in the Connected Technology Solutions segment warrants attention as it could indicate challenges within that part of the business or a strategic shift in focus.

The reaffirmation of the adjusted EPS outlook range and the expectation for double-digit adjusted EPS growth in 2024 are critical pieces of information for shareholders and potential investors. These figures not only provide a snapshot of the company's profitability but also signal confidence in future earnings potential. It's important to note that the exclusion of GAAP basis EPS forecasts due to unavailable or estimable adjustments could be a point of uncertainty for stakeholders seeking a complete picture of the company's financial health.

Financial Analyst

From a financial perspective, the preliminary estimates released by Dentsply Sirona have implications for investor sentiment and stock valuation. The company's expected performance at the high end of their sales outlook range could lead to an optimistic market reaction, potentially influencing the stock price positively. Investors typically value transparency and strong guidance adherence, which Dentsply Sirona appears to be demonstrating.

However, it's important to consider the forward-looking statements and the cautionary note regarding the preliminary nature of these figures. The actual results may vary once the year-end closing procedures are completed. This uncertainty must be factored into any financial models and investment decisions. Additionally, the reliance on non-GAAP financial measures like adjusted EPS can be contentious, as it may exclude significant expenses that are important in understanding the company's recurring profitability.

Legal Expert

In terms of compliance and reporting, Dentsply Sirona's approach to providing an update on financial results and EPS guidance without a GAAP basis is not uncommon, especially when certain adjustments cannot be reasonably estimated at the time of the release. The reference to Exhibit 99.1 for a description of typical adjustments indicates an effort to maintain transparency within the constraints of available information. Stakeholders should be mindful of the potential for material changes between these preliminary results and the finalized financial statements, which will be included in the company's Annual Report on Form 10-K.

It's also worth noting that the company's communication strategy, by updating investors through a press release and at a high-profile conference, aligns with best practices for corporate disclosure. The availability of presentation materials and webcast information on the company's website further supports this commitment to transparency.

CHARLOTTE, N.C., Jan. 09, 2024 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the "Company") (Nasdaq: XRAY) will present at the 42^nd Annual J.P. Morgan Healthcare Conference on Wednesday, January 10, 2024, at 7:30 am PT (10:30 am ET). As part of the conference, the Company is providing an update on its 2023 full year anticipated financial results, with net sales expected to be at or above the high end of the Company’s previously provided outlook range of $3.90 billion to $3.94 billion. For the full year and fourth quarter 2023, the Company expects to report year-over-year net sales growth in the Essential Dental Solutions, Wellspect Healthcare, and Orthodontic and Implant Solutions segments, partially offset by declines in the Connected Technology Solutions segment. The Company is reaffirming its full year 2023 adjusted EPS outlook range of $1.80 to $1.85 and its expectations for double-digit adjusted EPS growth in 2024. The Company does not provide forward-looking or preliminary estimates of adjusted EPS on a GAAP basis as certain information needed to prepare adjustments is not yet available and cannot be reasonably estimated. A description of the adjustments typically made to compute adjusted EPS can be found in Exhibit 99.1 to the Company’s Current Report on Form 8-K filed on November 2, 2023.

The preliminary estimates above are based solely upon information available to management as of the date of this press release and are subject to change. The Company’s actual results may differ from this estimate due to the completion of its year-end closing procedures, final adjustments and developments that may arise or information that may become available between now and the time the Company’s financial results are finalized and included in its Annual Report on Form 10-K for the year ended December 31, 2023.

Presentation materials and webcast information for the investor conference, including a replay of the webcast following the conference, is available on the Investors section of the Dentsply Sirona website at https://investor.dentsplysirona.com.

About Dentsply Sirona

Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solution offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. Dentsply Sirona’s products provide innovative, high-quality and effective solutions to advance patient care and deliver better and safer dental care. Dentsply Sirona’s headquarters is located in Charlotte, North Carolina. The Company’s shares are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products.

Contact Information:

Investors:
Andrea Daley
Vice President, Investor Relations
+1-704-805-1293
InvestorRelations@dentsplysirona.com

Forward-Looking Statements and Associated Risks

This Press Release contains statements that do not directly and exclusively relate to historical facts which constitute forward-looking statements, including statements and projections concerning financial performance. The Company’s forward-looking statements represent current expectations and beliefs and involve risks and uncertainties. Actual results may differ significantly from those projected or suggested in any forward-looking statements and no assurance can be given that the results described in such forward-looking statements will be achieved. Investors are cautioned not to place undue reliance on such forward-looking statements which speak only as of the date they are made. The forward-looking statements are subject to numerous assumptions, risks and uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. The Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Any number of factors could cause the Company’s actual results to differ materially from those contemplated by any forward-looking statements, including, but not limited to, the risks associated with the following: the Company’s ability to remain profitable in a very competitive marketplace, which depends upon the Company’s ability to differentiate its products and services from those of competitors; the Company’s failure to realize assumptions and projections which may result in the need to record additional impairment charges; the effect of changes to the Company’s distribution channels for its products and the failure of significant distributors of the Company to effectively manage their inventories; the Company’s ability to control costs and failure to realize expected benefits of cost reduction and restructuring efforts and the Company’s failure to anticipate and appropriately adapt to changes or trends within the rapidly changing dental industry. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in the Company’s most recent Annual Report on Form 10-K, including any amendments thereto, and any updating information which may be contained in the Company’s other filings with the Securities and Exchange Commission (“SEC”), when reviewing any forward-looking statement. The Company notes these factors for investors as permitted under the Private Securities Litigation Reform Act of 1995. Investors should understand it is impossible to predict or identify all such factors or risks. As such, you should not consider either the foregoing lists, or the risks identified in the Company’s SEC filings, to be a complete discussion of all potential risks or uncertainties.

What is the company name presenting at the J.P. Morgan Healthcare Conference?

Dentsply Sirona Inc. (XRAY)

When will the presentation take place at the conference?

The presentation will take place on Wednesday, January 10, 2024, at 7:30 am PT (10:30 am ET)

What are the expected net sales for 2023?

Net sales are expected to be at or above the high end of the company’s previously provided outlook range of $3.90 billion to $3.94 billion for 2023

What segments are expected to show net sales growth in 2023?

The Essential Dental Solutions, Wellspect Healthcare, and Orthodontic and Implant Solutions segments are expected to show net sales growth, partially offset by declines in the Connected Technology Solutions segment

What is the adjusted EPS outlook range for 2023?

The adjusted EPS outlook range for 2023 is $1.80 to $1.85

Where can investors find presentation materials and webcast information for the conference?

Investors can find presentation materials and webcast information on the Investors section of the Dentsply Sirona website at https://investor.dentsplysirona.com