DENTSPLY (XRAY) Earnings And Revenues Miss Estimates In Q2
Zacks Investment Research | Aug 08, 2017 09:14PM ET
DENTSPLY SIRONA Inc. (NASDAQ:XRAY) reported adjusted earnings per share (EPS) of 65 cents in the second quarter of 2017, missing the Zacks Consensus Estimate by a penny. Earnings were also lower than 76 cents recorded in the year-ago quarter.
Quarter Details
Net sales decreased to $992.7 million from $1,022.0 million in the year-ago period. Also, the figure lagged the Zacks Consensus Estimate of $1,004.0 million. Sales of the combined businesses decreased 2.2% at constant currency (cc) exchange rates. In the reported quarter, sales were affected by inventory reduction related to a change in the distribution strategy in North America and lower equipment sales to end users.
In the quarter, U.S. sales fell 9.7% to $331.6 million, while net sales in Europe increased 2.5% to $402.2 million. Sales of the combined business declined 9.6% at cc in the U.S., while European sales rose 5.7%.
Net sales in Rest of World decreased 1.3% to $258.9 million. Sales in Rest of World of the combined business rose 1.3% at cc.
Segment Details
The business is organized into two reporting segments: Dental & Healthcare Consumables and Technologies.
Dental & Healthcare Consumables comprises preventive, restorative, instruments, endodontic and laboratory dental products as well as consumable medical device products. Sales increased 1.9% to $554.1 million. At cc, sales of the segment rose 3.0% year over year in the quarter.
Technologies consist of dental implants, CAD/CAM systems, imaging systems, treatment centers and orthodontic products. Net sales decreased 8.3% to $438.6 million. At cc, sales of the combined business fell 5.6% in the reported quarter.
DENTSPLY SIRONA Inc. Price, Consensus and EPS Surprise
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