Loading...
•
Jun 30, 2020
Dentsply Sirona Q2 2020 Earnings Report
Reported a significant decrease in net sales and operating income due to the impact of COVID-19, while also initiating additional restructuring actions to enhance future revenue growth and margins.
Key Takeaways
Dentsply Sirona's Q2 2020 results were significantly impacted by the global response to COVID-19. The company reported a substantial decline in net sales and operating income compared to the prior year. In response to these challenges, Dentsply Sirona has implemented measures focused on employee safety, customer service, and financial stability, and is initiating additional restructuring actions to improve future performance.
Net sales decreased by 51.4% compared to the prior year, reaching $491 million, with organic sales declining by 49.9%.
The company reported an operating loss of $104 million, with a non-GAAP operating loss of $42 million.
EPS loss was reported at $0.44, while non-GAAP EPS loss was $0.18.
Dentsply Sirona is expanding its restructuring plan to achieve annual cost savings of approximately $250 million and is exiting a portion of its analog laboratory business and traditional orthodontics business.
Forward Guidance
Due to the uncertainty surrounding the COVID-19 pandemic and its impact on the business, the Company is not providing 2020 guidance.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...