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Mar 31, 2021
Dentsply Sirona Q1 2021 Earnings Report
Dentsply Sirona's Q1 2021 results were announced, featuring revenue growth and increased EPS.
Key Takeaways
Dentsply Sirona reported a strong first quarter in 2021, with a 17.5% increase in revenue to $1,027 million and a significant rise in both GAAP and non-GAAP EPS. The company has raised its full-year 2021 non-GAAP EPS outlook.
Revenue increased by 17.5% to $1,027 million, with organic revenue up by 12.1%.
GAAP EPS increased to $0.53, compared to a loss of ($0.63) in the previous year.
Non-GAAP EPS increased by 67.4% to $0.72, versus $0.43 in 2020.
The company raised its FY21 Non-GAAP EPS outlook to $2.75 to $2.90 from $2.60 to $2.80.
Dentsply Sirona
Dentsply Sirona
Forward Guidance
Dentsply Sirona revised its fiscal year 2021 outlook based on the first quarter results and the continued gradual recovery of the global dental market. The company now expects revenues to be in the $4.1B to $4.3B range and increased Non-GAAP EPS outlook for FY2021 to $2.75 to $2.90 from $2.60 to $2.80.
Positive Outlook
- Revenues are expected to be in the $4.1B to $4.3B range, up approximately 23-28% on a reported basis and 18-25% on an organic basis.
- Non-GAAP EPS outlook for FY2021 increased to $2.75 to $2.90 from $2.60 to $2.80.
- Global dental market has demonstrated resilience with attractive underlying fundamentals.
- The company remains committed to executing on its restructuring goals while increasing focus on investing for revenue growth.
- Confidence in the team's ability to execute on growth initiatives and capitalize on the recovery.