Dentsply Sirona (NSDQ:XRAY) posted second-quarter results today that beat the overall consensus on Wall Street.
The Charlotte, N.C.-based company reported profits of $99 million, or 45¢ per share, on sales of $1.07 billion for the three months ended June 30 for a sales growth of 117.31% compared with Q2 2020.
Adjusted to exclude one-time items, earnings per share were 71¢, 6¢ ahead of The Street, where analysts were looking for sales of $1.01 billion.
“Our second-quarter performance closes out a strong first half of the fiscal year,” CEO Don Casey said in a news release. “Our financial results reflect the resilience of the dental market and demonstrate our team’s ability to execute operationally and financially. As we turn our attention to investing for future growth, we are confident that the underlying fundamentals of our business are strong and that we are well-positioned. Additionally, we remain committed to completing our restructuring goals on time and on budget.”
Dentsply Sirota reaffirmed its fiscal year 2021 outlook. It expects revenues to be in the range of $4.1 billion to $4.3 billion and a non-GAAP EPS outlook in the range of $2.75 to $2.90.
Shares in XRAY were down more than –8% to $58.67 apiece in morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.