DENTSPLY SIRONA Inc. develops, manufactures and markets professional dental products, dental technologies, oral health products and other consumable medical devices under a broad brand portfolio. News for XRAY commonly covers quarterly results, outlook updates, restructuring actions, capital allocation, debt reduction, share repurchases and changes to distribution relationships for dental equipment and connected technology solutions.
Company updates also focus on digital dentistry and imaging products, including CEREC systems, intraoral scanning, CBCT imaging, DS Core, Smart View - Detect and dental-dedicated MRI work with Siemens Healthineers. Additional product news includes Surity urinary incontinence devices from Wellspect HealthCare, along with regulatory clearances, CE markings, commercial launches, board changes and investor conference participation.
Dentsply Sirona (Nasdaq: XRAY) announced on August 15, 2022, it remains non-compliant with Nasdaq Listing Rules, failing to file its Quarterly Reports on Form 10-Q for the first two quarters of 2022. Despite an earlier extension to file by August 14, the Company could not meet this deadline. An internal investigation regarding financial reporting matters is ongoing, complicating the filing process. Nasdaq may grant additional time to regain compliance, potentially extending the deadline to November 7, 2022. The notices received do not impact the current listing status of XRAY shares.
Dentsply Sirona (Nasdaq: XRAY) announced preliminary results for Q2 2022, expecting net sales over $1,005 million and adjusted EPS at or above $0.60. Despite year-over-year sales decline due to foreign exchange impacts, organic sales grew, driven by strong demand in Europe and recent product launches. An ongoing internal investigation into financial matters may delay the filing of its quarterly report. The company has declared a quarterly dividend of $0.125 per share, payable on October 14, 2022. Nasdaq compliance issues are also addressed, with an extension granted for filing the required reports.
DENTSPLY SIRONA Inc. (Nasdaq: XRAY) announced a quarterly cash dividend of $0.125 per share, indicating an annual rate of $0.50. This dividend is scheduled for payment on July 8, 2022, to shareholders of record as of June 24, 2022. Dentsply Sirona is recognized as the world’s largest manufacturer of professional dental products, providing innovative solutions that enhance patient care. The company has a strong portfolio of products and brands, reinforcing its commitment to the dental industry.
Dentsply Sirona (Nasdaq: XRAY) received a notification from Nasdaq on May 12, 2022, indicating non-compliance with listing rules due to the failure to file its Quarterly Report on Form 10-Q for the period ended March 31, 2022. The Company has 60 days to address this deficiency or submit a compliance plan. This notice does not immediately affect the stock's listing, and the Company aims to file the missing report as soon as possible. An investigation regarding the accounting of sales incentives is ongoing, which may have contributed to the delay.
Dentsply Sirona (Nasdaq: XRAY) reported Q1 2022 net sales of $965 million, a decrease of 6.1% from $1,027 million in Q1 2021. EPS dropped to $0.30, down 43.8%, while adjusted EPS decreased to $0.52 from $0.72. Operating income fell 39.5% to $93 million. Despite these declines, operating cash flow improved to $93 million. The company updated its FY2022 outlook, projecting organic sales growth of 2% to 3% and adjusted EPS between $2.35 and $2.55. Challenges stemmed from macroeconomic headwinds and weaker U.S. performance.
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Dentsply Sirona launched DS Core, a cloud-based platform enhancing digital dentistry, in collaboration with Google Cloud. The integrated system simplifies workflows, allows remote collaboration, and supports compliance with patient data regulations. Additionally, two new services, DS Core Create and DS Core Care, aim to optimize dental design and equipment support. The Primeprint Solution, an automated 3D printing system, was also introduced, promising efficiency and safety in dental practices. These innovations position Dentsply Sirona at the forefront of digital dentistry.
Dentsply Sirona (Nasdaq: XRAY) announced a revised date for its first quarter 2022 earnings conference call, now scheduled for May 10, 2022, at 8:30 am ET, moving from the previously set date of May 5. The call will be accessible via a live webcast on the Investors section of the company's website. A presentation related to the call will be published online, and a replay will be available for a week post-call. As the largest manufacturer of dental products, Dentsply Sirona continues to focus on innovation and effective solutions for patient care.
WellAir announced the appointment of Kari Dixon as President and CEO, effective immediately, succeeding Todd M. Pope, who will serve as Vice-Chair of the Board. Dixon, previously WellAir's CFO, possesses extensive experience in capital markets and financial planning, having worked with Dentsply Sirona and Form Technologies. Todd highlighted WellAir's advancements, including the launch of the FDA cleared Defend 400 air cleaning solution. Dixon aims to drive growth in the indoor air quality sector, emphasizing its significance in community wellness.
Dentsply Sirona has appointed John Groetelaars as Interim CEO following the termination of Don Casey. The Board is actively seeking a new CEO with a focus on driving operational excellence. Additionally, Barbara Bodem has been named Interim CFO to ensure a smooth transition after the departure of Jorge Gomez. Dentsply Sirona anticipates first quarter net sales of approximately $965 million, indicating a 1.4% decline year-over-year, affected by weaker U.S. sales and supply chain challenges. Further financial details will be disclosed on May 5, 2022.