DENTSPLY SIRONA Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>DENTSPLY SIRONA Inc. has submitted its Q1 2024 10-Q filing, detailing financial positions and historical company information.</b>

AI Summary

DENTSPLY SIRONA Inc. (XRAY) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. DENTSPLY SIRONA Inc. filed its quarterly report on Form 10-Q for the period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's principal executive offices are located at 13320 Ballantyne Corporate Place, Charlotte, NC. DENTSPLY SIRONA Inc. was formerly known as DENTSPLY INTERNATIONAL INC /DE/ and GENDEX CORP. The filing includes financial data related to common stock, additional paid-in capital, retained earnings, and treasury stock for various periods.

Why It Matters

For investors and stakeholders tracking DENTSPLY SIRONA Inc., this filing contains several important signals. This 10-Q filing provides the latest financial snapshot of DENTSPLY SIRONA Inc. for the first quarter of 2024, crucial for investors assessing current performance and trends. The inclusion of historical company names and incorporation details offers context for the company's evolution and identity.

Risk Assessment

Risk Level: low — DENTSPLY SIRONA Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or positive/negative developments.

Analyst Insight

Monitor future filings for specific financial performance metrics and any emerging risk factors that may impact DENTSPLY SIRONA Inc.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-01-01 — Period Start Date (Reporting period)
• 2023-01-01 — Prior Period Start Date (Prior period reporting)
• 2023-03-31 — Prior Period End Date (Prior period reporting)

Key Players & Entities

• DENTSPLY SIRONA Inc. (company) — Filer name
• 0000818479-24-000036 (filing_id) — Accession number
• 20240331 (date) — Conformed period of report
• 13320 Ballantyne Corporate Place, Charlotte, NC (address) — Business address
• DENTSPLY INTERNATIONAL INC /DE/ (company) — Former company name
• GENDEX CORP (company) — Former company name
• XRAY (ticker) — Ticker symbol

FAQ

Industry Context

DENTSPLY SIRONA Inc. operates in the dental equipment and supplies industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Compare Q1 2024 results with prior periods to identify performance trends.
3. Note any specific disclosures regarding operations, risks, or legal matters within the filing.

Year-Over-Year Comparison

This filing represents the first quarterly report for the fiscal year 2024, following the 2023 annual report.

Filing Documents

• xray-20240331.htm (10-Q) — 1564KB
• exhibit311q12024.htm (EX-31.1) — 10KB
• exhibit312q12024.htm (EX-31.2) — 10KB
• exhibit32q12024.htm (EX-32) — 7KB
• 0000818479-24-000036.txt (&nbsp;) — 8853KB
• xray-20240331.xsd (EX-101.SCH) — 43KB
• xray-20240331_cal.xml (EX-101.CAL) — 86KB
• xray-20240331_def.xml (EX-101.DEF) — 262KB
• xray-20240331_lab.xml (EX-101.LAB) — 587KB
• xray-20240331_pre.xml (EX-101.PRE) — 469KB
• xray-20240331_htm.xml (XML) — 1766KB

Financial Statements (unaudited)

Financial Statements (unaudited) 4 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensiv e Loss 5 Consolidated Balance Sheets 6 Consolidated Statements of Changes in Equity 7 Consolidated Statements of Cash Flows 8 Notes to Unaudited Interim Consolidated Financial Statements 9 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4

Controls and Procedures

Controls and Procedures 47 PART II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 48 Item 1A

Risk Factors

Risk Factors 48 Item 2 Unregistered Sales of Securities and Use of Proceeds 48 Item 6 Exhibits 49

Signatures

Signatures 50 2 General Unless otherwise stated herein or the context otherwise indicates, reference throughout this Form 10-Q to "Dentsply Sirona," or the "Company," "we," "us" or "our" refers to financial information and transactions of DENTSPLY SIRONA Inc., together with its subsidiaries on a consolidated basis.

Forward-Looking Statements and Associated Risks

Forward-Looking Statements and Associated Risks All statements in this Form 10-Q that do not directly and exclusively relate to historical facts constitute "forward-looking statements." Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control, including those described in Part I, Item 1A, "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "2023 Form 10-K"), a nd other factors which may be described in the Company's other filings with the Securities and Exchange Commission (the "SEC"). No assurance can be given that any expectation, belief, goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this Form 10-Q or to reflect the occurrence of unanticipated events. Investors should understand it is not possible to predict or identify all such factors or risks. As such, you should not consider the risks identified in the Company's SEC filings to be a complete discussion of all potential risks or uncertainties associated with an investment in the Company. Disclosure Regarding Trademarks This report includes trademarks, trade names and service marks that are our property or the property of other third parties. Solely for convenience, such trademarks and trade names sometimes appear without any "" or "" symbol. Failure to include such symbols is not intended to suggest, in any way, that we will not assert our rights or the rights of any applicable licensor, to these trademarks and trade names. 3

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

– Financial Statements

Item 1 – Financial Statements DENTSPLY SIRONA INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share amounts) (unaudited) Three Months Ended March 31, 2024 2023 Net sales $ 953 $ 978 Cost of products sold 447 459 Gross profit 506 519 Selling, general, and administrative expenses 415 416 Research and development expenses 42 46 Intangible asset impairments 6 — Restructuring and other costs 1 59 Operating income (loss) 42 ( 2 ) Other income and expenses: Interest expense, net 18 20 Other (income) expense, net ( 7 ) 6 Income (loss) before income taxes 31 ( 28 ) Provision (benefit) for income taxes 14 ( 5 ) Net income (loss) 17 ( 23 ) Less: Net loss attributable to noncontrolling interest ( 1 ) ( 4 ) Net income (loss) attributable to Dentsply Sirona $ 18 $ ( 19 ) Net income (loss) per common share attributable to Dentsply Sirona: Basic $ 0.09 $ ( 0.09 ) Diluted $ 0.09 $ ( 0.09 ) Weighted average common shares outstanding: Basic 207.4 214.5 Diluted 208.5 214.5 See accompanying Notes to Unaudited Interim Consolidated Financial Statements. 4 DENTSPLY SIRONA INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in millions) (unaudited) Three Months Ended March 31, 2024 2023 Net income (loss) $ 17 $ ( 23 ) Other comprehensive (loss) income, net of tax: Foreign currency translation (loss) gain ( 62 ) 15 Net gain (loss) on derivative financial instruments 32 ( 1 ) Pension liability gain — — Total other comprehensive (loss) income, net of tax ( 30 ) 14 Total comprehensive loss ( 13 ) ( 9 ) Less: Comprehensive loss attributable to noncontrolling interests ( 1 ) ( 4 ) Total comprehensive loss attributable to Dentsply Sirona $ ( 12 ) $ ( 5 ) See accompanying Notes to Unaudited Interim Consolidated Financial Statements. 5 DENTSPLY SIRONA INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in millions, except share and per share amounts) (unaudited) March 31

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View this 10-Q filing on SEC EDGAR