DENTSPLY SIRONA Inc. Files 8-K on Financials and Operations

TL;DR

DENTSPLY SIRONA dropped an 8-K detailing financial results and other key events.

AI Summary

DENTSPLY SIRONA Inc. filed an 8-K on October 24, 2024, reporting on its results of operations and financial condition, as well as other events. The filing includes financial statements and exhibits related to these matters.

Why It Matters

This filing provides investors with updated information on DENTSPLY SIRONA's financial performance and significant operational events, which can influence investment decisions.

Risk Assessment

Risk Level: low — This is a routine filing of financial and operational information, not indicating any immediate or significant adverse events.

Key Players & Entities

• DENTSPLY SIRONA Inc. (company) — Registrant
• 0000818479-24-000076 (filing_id) — Accession Number
• October 24, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 39-1434669 (tax_id) — IRS Employer Identification No.
• 13320 Ballantyne Corporate Place, Charlotte North Carolina 28277-3607 (address) — Principal Executive Offices
• 844-546-3722 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share XRAY The Nasdaq Stock Market
• $951 million — quarter 2024 net sales of approximately $951 million and preliminary adjusted earnings per s
• $0.49 — sted earnings per share ("EPS") between $0.49 and $0.51.For the third quarter 2024, t
• $0.51 — ngs per share ("EPS") between $0.49 and $0.51.For the third quarter 2024, the Company
• $20 million — into the third quarter of approximately $20 million. The Company does not provide forward-l
• $450 — airment of goodwill within the range of $450 - $550 million, net of tax, pertaining
• $550 m — of goodwill within the range of $450 - $550 million, net of tax, pertaining to two of

Filing Documents

• xray-20241024.htm (8-K) — 35KB
• a10242024-bytepressrelea.htm (EX-99.1) — 9KB
• a10242024-bytepressrelea001.jpg (GRAPHIC) — 325KB
• a10242024-bytepressrelea002.jpg (GRAPHIC) — 281KB
• 0000818479-24-000076.txt ( ) — 1008KB
• xray-20241024.xsd (EX-101.SCH) — 2KB
• xray-20241024_lab.xml (EX-101.LAB) — 21KB
• xray-20241024_pre.xml (EX-101.PRE) — 13KB
• xray-20241024_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On October 24, 2024, DENTSPLY SIRONA Inc. (the "Company") issued a press release announcing that as a precautionary measure, the Company is suspending the sale and marketing of its Byte Aligner System and Impression Kits, as described in Item 8.01 herein. The press release also includes select preliminary unaudited financial results for the third quarter ended September 30, 2024 (the "third quarter 2024"). Based on preliminary financial information, the Company expects to report third quarter 2024 net sales of approximately $951 million and preliminary adjusted earnings per share ("EPS") between $0.49 and $0.51.For the third quarter 2024, the Company expects to report year-over-year net sales growth in Essential Dental Solutions, partially offset by declines in Orthodontic and Implant Solutions and Connected Technology Solutions segments. Wellspect Healthcare net sales are expected to be approximately flat due to timing with a large U.S. distributor. Net sales and adjusted EPS were favorably impacted by a shift in the timing of distributor orders for Essential Dental Solutions products from the fourth quarter into the third quarter of approximately $20 million. The Company does not provide forward-looking or preliminary estimates of adjusted EPS on a GAAP basis as it is not able to reconcile this measure without unreasonable effort because the adjusting items will not be finalized until the completion of the Company's quarter-end closing procedures and could be significant. A description of the adjustments typically made to compute adjusted EPS can be found in Exhibit 99.1 to the Company's Current Report on Form 8-K filed onJuly 31, 2024. In addition, in connection with the preparation of the Company's financial statements for the third quarter 2024, the Company concluded that it expects to record non-cash charges for the impairment of goodwill within the range of $450 - $550 million, net of tax, pertaining

01 Other Events

Item 8.01 Other Events On October 24, 2024, the Company issued a press release announcing that as a precautionary measure, the Company is voluntarily suspending the sale and marketing of its Byte Aligner System and Impression Kits while the Company conducts a review of certain regulatory requirements related to these products. The Company's decision was made in consultation with the U.S. Food and Drug Administration (the "FDA"). In connection with this review, and Dentsply Sirona's proactive efforts to continuously improve its processes, the Company has suspended shipment and processing of new and recently placed orders for Byte aligners and impression kits. The Company expects this suspension of sales to have a material impact on the Company's results of operations. The sales of Byte Aligner Systems and Impression Kits represent approximately 5% of the Company's annual revenue. Failure to promptly resolve these issues or to comply with the U.S. medical device regulatory requirements in general could result in regulatory action being initiated by the FDA that would have a material adverse impact on the Company's financial status and results of operations. FDA actions could include, among other things, fines, injunctions, consent decrees, civil money penalties, repairs, replacements, refunds, recalls or seizures of products, total or partial suspension of production, the FDA's refusal to grant future premarket approvals and criminal prosecution.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits: 99.1 DENTSPLY SIRONA Inc. Press Release issued October 24, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document)

Forward Looking Statements

Forward Looking Statements All statements in this Current Report on Form 8-K that do not directly and exclusively relate to historical facts, including statements relating to the Company's preliminary unaudited financial results for the third quarter 2024, the Company's plans to terminate certain activities and the anticipated impact on the Company's business, financial condition and results of operations, constitute "forward-looking statements." These statements represent current expectations and beliefs and no assurance can be given that the results described in such statements will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors, including those described in the section titled "Risk Factors" in the Company's most recent Form 10-K, including any amendments thereto, and in other documents that we file with the Securities and Exchange Commission. 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. The Company does 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 Current Report on Form 8-K or to reflect the occurrence of unanticipated events. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DENTSPLY SIRONA Inc. By: /s/ Richard C. Rosenzweig Richard C. Rosenzweig Executive Vice President, Corporate Development, General Counsel and Secretary Date: October 24, 2024

View Full Filing

View this 8-K filing on SEC EDGAR