The York, Pa.–based dental equipment maker posted profits of $85 million, or 38¢ per share, on sales of $962.1 million for the three months ended Sept. 30, tripling its bottom line from the same quarter last year on sales growth of 3.6%.
Adjusted to exclude one-time items, earnings per share were 57¢, 7¢ ahead of Wall Street, where analysts were looking for sales of $944.9.
“We are pleased to report solid third quarter results and encouraged that the company continues to demonstrate good progress against our stated restructuring goals of accelerating growth, improving margins and simplifying the organization,” CEO Don Casey said in prepared remarks. “The key to our third-quarter performance was the success of our new product launches, particularly the Primescan digital impression system, and we are encouraged by the positive reception to the many new products we launched at Dentsply Sirona World in October. Revenue growth and our comprehensive cost savings programs contributed to significant margin expansion in the third quarter of 2019. While we still have a lot of work to do, we are convinced that the ongoing execution of our restructuring plan will continue to drive strong financial performance and create significant value for our shareholders.”
Dentsply Sirona said it now expects to log adjusted EPS of $2.42 to $2.48, compared with $2.35 to $2.45 previously, and stood fast on its prior sales guidance for between $3.95 billion and $4.05 billion.
XRAY shares were up 0.7% at $57.48 per share in midday trading today.