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Envista posts Street-beating Q2 results

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EnvistaEnvista (NYSE:NVST) today posted second-quarter results that beat the overall consensus on Wall Street.

The Brea, Calif.-based company reported profits of $90.1 million, or 51¢ per share, on sales of $740.1 million for the three months ended July 2, for a sales growth of 104.45% compared with Q2 2020.

Adjusted to exclude one-time items, earnings per share were 53¢, 8¢ ahead of The Street, where analysts were looking for sales of $707.8 million.

“We delivered another strong quarter driven by continued recovery in the dental market and solid execution across our portfolio. Core sales growth was 102% compared to a COVID-19 impacted second quarter of 2020. Our adjusted EBITDA margin was 19% for the current quarter. We also grew above pre-pandemic levels with core sales growth of 5.6% compared to the same quarter of 2019,” CEO Amir Aghdaei said in a news release.

“Our team has done a tremendous job of executing our business priorities in the quarter. As a result, we are building a better Envista for customers, our employees, and our shareholders. Our purpose is to make oral care readily available to more people, improving productivity and predictability of treatment options, and ultimately improving the confidence and quality of life for patients. We are proud of our progress and look forward to continuing our growth journey in 2021 and beyond.”

Envista said it expects sales in 2021 to be in the range of $2.8 billion to $2.9 billion.

Shares in NVST were down -1.03% to $43.33 apiece at market open.

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