Dentsply Sirona Posts Narrower Q3 Loss; Lowers Annual Outlook Below View

(RTTNews) - Dentsply Sirona Inc. (XRAY), a provider of dental products and technologies, Thursday reported narrower loss in the third quarter despite revenue being flat, primarily due to lower charges. The company also cut its full-year outlook, below the Street view.

Net loss was $266 million or $1.25 per share for the third quarter, narrower than $1.077 billion or $5.01 per share loss a year ago.

The company had non-cash charges for the impairment of goodwill and other intangible assets of $302 million or $1.42 per share in the latest quarter, compared with $1.092 billion, or $5.07 per share in the year-ago quarter.

Excluding one-time items, Dentsply Sirona posted earnings of $0.49 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.48 per share. Analysts' estimates typically exclude special items.

Quarterly sales were $947 million, flat with last year. The consensus estimate was for $975.4 million.

For the full year, the company now expects sales in the range of $3.90 billion - $3.94 billion, down from the previous outlook of $3.98 billion - $4.02 billion.

Adjusted EPS guidance for the full year has been slashed to $1.80 - $1.85 from $1.92 - $2.02.

Analysts expect the company to report earnings of $1.98 per share on revenue of $4.01 billion for the year.

Dentsply Sirona shares were down more than 3% in pre-market. The stock had closed at $30.84, up 1.41% on Wednesday. It has been trading in the range of $26.48 - $43.24 in the last 52 weeks.