Dentsply Sirona Lowers Earnings Outlook - Quick Facts

(RTTNews) - Dentsply Sirona Inc. (XRAY) updated its fiscal 2017 adjusted EPS guidance to the range of $2.65 to $2.75. The company's previous guidance was $2.80 - $2.90.

On an adjusted basis, net earnings per share in the second quarter of 2017 were $0.65 compared to $0.76 in the second quarter of 2016. Reported net sales were $992.7 million, a decline of 2.9% compared to $1.02 billion in the second quarter of 2016. Net sales, excluding precious metals, declined 1.0% on a constant currency basis and internal growth was negative 3.6% as compared to the second quarter of 2016.

Jeffrey Slovin, Dentsply Sirona's CEO, said: "Our results were impacted by a number of factors, the largest of which are headwinds associated with Patterson reducing its inventory in North America and the transition of North American distribution. Year to date, operational execution has not met our expectations. Our lower outlook reflects the underperformance in the first half of the year and some of those challenges persisting in the back half of the year."