DENTSPLY SIRONA Files Q2 2024 10-Q Report

Ticker: XRAY · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 818479

Dentsply Sirona Inc. 10-Q Filing Summary
FieldDetail
CompanyDentsply Sirona Inc. (XRAY)
Form Type10-Q
Filed DateJul 31, 2024
Risk Levellow
Pages17
Reading Time21 min
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, quarterly-report, sec-filing

Related Tickers: XRAY

TL;DR

XRAY filed its 10-Q for June 30, 2024. All good on filings.

AI Summary

DENTSPLY SIRONA Inc. filed its quarterly report for the period ended June 30, 2024. The company, registered under file number 0-16211, is headquartered in Charlotte, North Carolina, and its common stock trades on the Nasdaq under the ticker XRAY. DENTSPLY SIRONA confirmed it has filed all required reports for the preceding 12 months and submitted all Interactive Data Files electronically.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for DENTSPLY SIRONA, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not contain any immediately apparent negative news or significant risk factors.

Key Players & Entities

  • DENTSPLY SIRONA Inc. (company) — Registrant
  • June 30, 2024 (date) — Quarterly period end date
  • 0-16211 (other) — Commission File Number
  • Charlotte, North Carolina (location) — Principal executive offices
  • XRAY (ticker) — Trading Symbol for Common Stock
  • The Nasdaq Stock Market LLC (company) — Exchange where Common Stock is registered

FAQ

What is the primary purpose of this Form 10-Q filing?

The primary purpose is to provide a quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2024.

What is DENTSPLY SIRONA Inc.'s commission file number?

DENTSPLY SIRONA Inc.'s commission file number is 0-16211.

Where are DENTSPLY SIRONA Inc.'s principal executive offices located?

DENTSPLY SIRONA Inc.'s principal executive offices are located at 13320 Ballantyne Corporate Place, Charlotte, North Carolina 28277-3607.

What is the trading symbol for DENTSPLY SIRONA Inc.'s common stock?

The trading symbol for DENTSPLY SIRONA Inc.'s common stock is XRAY.

Has DENTSPLY SIRONA Inc. filed all required reports for the preceding 12 months?

Yes, the filing indicates that DENTSPLY SIRONA Inc. has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Filing Stats: 5,149 words · 21 min read · ~17 pages · Grade level 16.6 · Accepted 2024-07-31 08:19:07

Filing Documents

Financial Statements (unaudited)

Financial Statements (unaudited) 4 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensive (Loss) Income 5 Consolidated Balance Sheets 6 Consolidated Statements of Changes in Equity 7 Consolidated Statements of Cash Flows 9 Notes to Unaudited Interim Consolidated Financial Statements 10 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 37 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 4

Controls and Procedures

Controls and Procedures 52 PART II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 53 Item 1A

Risk Factors

Risk Factors 53 Item 2 Unregistered Sales of Securities and Use of Proceeds 53 Item 6 Exhibits 54

Signatures

Signatures 55 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 984 $ 1,028 $ 1,937 $ 2,006 Cost of products sold 473 478 920 937 Gross profit 511 550 1,017 1,069 Selling, general, and administrative expenses 399 416 814 832 Research and development expenses 41 49 83 95 Intangible asset impairments — — 6 — Restructuring and other costs 21 5 22 64 Operating income 50 80 92 78 Other income and expenses: Interest expense, net 17 22 35 42 Other (income) expense, net ( 1 ) 12 ( 8 ) 18 Income before income taxes 34 46 65 18 Provision (benefit) for income taxes 38 ( 39 ) 52 ( 44 ) Net (loss) income ( 4 ) 85 13 62 Less: Net loss attributable to noncontrolling interest — ( 1 ) ( 1 ) ( 5 ) Net (loss) income attributable to Dentsply Sirona $ ( 4 ) $ 86 $ 14 $ 67 (Loss) earnings per common share attributable to Dentsply Sirona: Basic $ ( 0.02 ) $ 0.41 $ 0.07 $ 0.31 Diluted $ ( 0.02 ) $ 0.40 $ 0.07 $ 0.31 Weighted average common shares outstanding: Basic 205.6 211.9 206.5 213.2 Diluted 205.6 213.1 207.3 214.4 See accompanying Notes to Unaudited Interim Consolidated Financial Statements. 4 DENTSPLY SIRONA INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net (loss) income $ ( 4 ) $ 85 $ 13 $ 62 Other comprehensive (loss) income, net of tax: Foreign currency translation (loss) gain ( 10 ) — ( 72 ) 15 Net (loss) gain on derivative financial instruments ( 1 ) ( 6 ) 31 ( 7 ) Pension liability gain — — — — Total other comprehensive (loss) income, net of tax ( 11 ) ( 6 ) ( 41 ) 8 Total comprehensive (loss) income ( 15 ) 79 ( 28 ) 70 Less: Comprehensive loss attributable to noncontrolling interests — ( 1 ) ( 1 ) ( 5 )

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