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Sep 29, 2023
Envista Q3 2023 Earnings Report
Reported positive core growth and an adjusted EBITDA margin of 19.6%.
Key Takeaways
Envista reported Q3 2023 earnings with sales of $631.3 million and a core sales increase of 0.8%. Net income was $21.5 million, or $0.12 per diluted share, while adjusted net income was $75.5 million, or $0.43 per diluted share. The company is revising its full year guidance for 2023 due to macro uncertainty and investments in long-term growth.
Delivered positive core growth and an adjusted EBITDA margin of 19.6%.
Specialty Product & Technology Segment delivered low-single digit core growth, driven by Spark.
Equipment & Consumables segment declined low-single digit, with consumables growth offset by imaging portfolio rationalization.
Utilized Envista Business System (EBS) to streamline operations and improve cost position, delivering 50 bps of sequential margin improvement.
Revenue by Segment
Forward Guidance
Due to continued uncertainties in the macro environment, volatility in the North American distribution channel and continued investment in long-term growth initiatives, Envista now expects full year core sales to be down slightly and adjusted EBITDA margin to be between 18% to 19%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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