DENTSPLY SIRONA Files Q3 2024 10-Q

TL;DR

DSNX Q3 24 10-Q filed. Financials and biz updates out.

AI Summary

DENTSPLY SIRONA Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in the dental equipment and supplies sector.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of DENTSPLY SIRONA, crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — The filing is a routine quarterly report, but the dental industry can be subject to regulatory changes and economic sensitivities.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2024-11-07 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• DENTSPLY SIRONA Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241107 (date) — Filing date
• 3843 (number) — Standard Industrial Classification for Dental Equipment & Supplies

FAQ

Filing Documents

• xray-20240930.htm (10-Q) — 2240KB
• exhibit311q32024.htm (EX-31.1) — 10KB
• exhibit312q32024.htm (EX-31.2) — 10KB
• exhibit32q32024.htm (EX-32) — 7KB
• 0000818479-24-000093.txt ( ) — 10812KB
• xray-20240930.xsd (EX-101.SCH) — 46KB
• xray-20240930_cal.xml (EX-101.CAL) — 83KB
• xray-20240930_def.xml (EX-101.DEF) — 275KB
• xray-20240930_lab.xml (EX-101.LAB) — 628KB
• xray-20240930_pre.xml (EX-101.PRE) — 490KB
• xray-20240930_htm.xml (XML) — 2319KB

Financial Statements (unaudited)

Financial Statements (unaudited) 4 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensive Loss 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 39 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 55 Item 4

Controls and Procedures

Controls and Procedures 55 PART II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 56 Item 1A

Risk Factors

Risk Factors 56 Item 2 Unregistered Sales of Securities and Use of Proceeds 58 Item 5 Other Information 58 Item 6 Exhibits 59

Signatures

Signatures 60 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") and in Part II, Item 1A, "Risk Factors" of this Form 10-Q, 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 tr

– 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 951 $ 947 $ 2,888 $ 2,953 Cost of products sold 456 452 1,376 1,389 Gross profit 495 495 1,512 1,564 Selling, general, and administrative expenses 390 372 1,204 1,204 Research and development expenses 40 46 123 141 Goodwill and intangible asset impairments 504 307 510 307 Restructuring and other costs 23 6 45 70 Operating loss ( 462 ) ( 236 ) ( 370 ) ( 158 ) Other income and expenses: Interest expense, net 18 19 53 61 Other (income) expense, net ( 2 ) ( 5 ) ( 10 ) 13 Loss before income taxes ( 478 ) ( 250 ) ( 413 ) ( 232 ) Provision (benefit) for income taxes 17 16 69 ( 28 ) Net loss ( 495 ) ( 266 ) ( 482 ) ( 204 ) Less: Net loss attributable to noncontrolling interests ( 1 ) — ( 2 ) ( 5 ) Net loss attributable to Dentsply Sirona $ ( 494 ) $ ( 266 ) $ ( 480 ) $ ( 199 ) Loss per common share attributable to Dentsply Sirona: Basic $ ( 2.46 ) $ ( 1.25 ) $ ( 2.35 ) $ ( 0.94 ) Diluted $ ( 2.46 ) $ ( 1.25 ) $ ( 2.35 ) $ ( 0.94 ) Weighted average common shares outstanding: Basic 201.0 211.8 204.7 212.7 Diluted 201.0 211.8 204.7 212.7 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net loss $ ( 495 ) $ ( 266 ) $ ( 482 ) $ ( 204 ) Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) 75 ( 64 ) 3 ( 49 ) Net (loss) gain on derivative financial instruments ( 36 ) 27 ( 5 ) 20 Total other comprehensive income (loss), net of tax 39 ( 37 ) ( 2 ) ( 29 ) Total comprehensive loss ( 456 ) ( 303 ) ( 484 ) ( 233 ) L

View Full Filing

View this 10-Q filing on SEC EDGAR