Dentsply Sirona Shares Fall 12% on 3Q Results, Lower 2023 Outlook
Dentsply Sirona shares fell 12% to $27.04 following flat sales in the company's latest quarter and cuts to its 2023 outlook.
From the Equity Insider archive. This article dates from Nov 2, 2023 and is preserved as first published.
Dentsply Sirona shares fell 12% to $27.04 following flat sales in the company’s latest quarter and cuts to its 2023 outlook.
The stock is down 15% on the year.
The dental-products manufacturer narrowed its loss in the third quarter but logged sales were unchanged from a year earlier at $947 million. Analysts polled by FactSet expected $975 million.
The dental-products manufacturer narrowed its loss in the third quarter but logged sales were unchanged from a year earlier at $947 million.
Dentsply also cut its 2023 operating earnings and revenue projections.
The company issued an adjusted earnings projection for 2023 in a range between $1.80 a share and $1.85 a share from an August forecast set between $1.92 a share and $2.02 a share
Additionally, Dentsply now expects 2023 sales between $3.9 billion and $3.94 billion, compared with a prior estimate between $3.98 billion and $4.02 billion. The Charlotte, N.C.-based company now anticipates organic sales growth of about 1% for the year.
