Dentsply Sirona Slashes FY22 Outlook; Stock Down 13% - Update

(RTTNews) - While reporting financial results for the first quarter on Tuesday, Dentsply Sirona, Inc. (XRAY) slashed its adjusted earnings, net sales and organic sales growth guidance for the full-year 2022, based on the results of the first quarter and a challenging macroeconomic environment.

For fiscal 2022, the company now projects adjusted earnings in a range of $2.35 to $2.55 per share on net sales between $4.1 billion and $4.2 billion, with organic sales growth of 2 to 3 percent.

Previously, the company expected adjusted earnings in the range of $3.05 to $3.25 per share on net sales between $4.3 billion and $4.4 billion, with organic sales growth of 4 to 5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.77 per share on revenues of $4.23 billion for the year. Analysts' estimates typically exclude special items.