Dentsply Sirona this week announced fourth-quarter results that beat the overall consensus on Wall Street.
The Charlotte, N.C.-based company reported net losses of $15 million, or -7¢ per share, on sales of $983 million, for the three months that ended December 31, 2022. It had a sales loss of 10.88% compared with Q4 2022 and a profit loss from the same period when it reported $119 million in profits.
Adjusted to exclude one-time items, earnings per share were 46¢ per share, 14¢ ahead of The Street, where analysts were looking for sales of $941.37 million.
“2022 was a challenging year due to both internal and external factors. Despite these challenges, we were pleased to deliver fourth-quarter financial results that exceeded the high end of our prior sales and EPS outlook ranges. This represents an important milestone as the company works to improve performance and rebuild investor and employee confidence,” CEO Simon Campion said in a news release.
Dentsply Sirona previously announced that it would lay off 8% to 10% of its workforce in a restructuring effort. The plan aims to improve operational performance and drive shareholder value creation.
For fiscal 2023, Dentsply Sirona anticipates full-year net sales in the range of $3.85 billion to $3.95 billion.
Shares in XRAY were up 8.6% to $37.52 apiece at market open.
