CHARLOTTE, N.C. - Dentsply Sirona Inc. (NASDAQ:XRAY), a leading manufacturer of professional dental products and technologies, reported fourth-quarter earnings that surpassed analyst expectations.
The company announced adjusted earnings per share (EPS) of $0.44, which edged out the consensus estimate by $0.01. Revenue for the quarter was also higher than anticipated, coming in at $1.01 billion compared to the expected $969.72 million.
For the full year of 2023, Dentsply Sirona's net sales increased by 1.1% to $3,965 million, with organic sales growth of 2.2%. The fourth quarter saw a revenue increase of 2.9% to $1,012 million, with organic sales up by 1.9% compared to the same period last year. Adjusted EPS for the year stood at $1.83, a decline from $2.09 in the previous year.
"We delivered on our outlook with three of our four segments posting year-over-year growth in the fourth quarter and full year 2023," said Simon Campion, President and Chief Executive Officer of Dentsply Sirona. "Our transformation is taking shape, and we expect that 2024 will be an inflection point for improved profitability and adjusted earnings per share growth."
Looking ahead to the full year 2024, Dentsply Sirona provided guidance for organic sales to be flat to up 1.5%, with adjusted EPS expected to range between $2.00 and $2.10. This forecast suggests a potential for earnings growth compared to the adjusted EPS reported for 2023.
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