Dentsply cuts annual profit outlook on weak demand

DENTSPLY SIRONA

02/11/2023 12:04

Nov 2(Reuters) - Dentsply Sirona  XRAY.O  lowered its
full-year profit and revenue forecasts on Thursday due to weak
demand for its dental equipment and consumable products, sending
the company's shares down 3% before the bell.
    Demand for clear aligners and non-urgent procedures
including orthodontic treatment initially recovered this year
after a poor 2022 but since then demand, especially for
higher-end restorative procedures and adult clear aligners, has
waned due to economic uncertainties in some of its markets.
    Pennsylvania-based Dentsply sells clear dental aligners
under the brand names SureSmile and Byte.
    The company now expects total fiscal 2023 revenue between
$3.90 billion and $3.94 billion, compared with its previous
forecast of $3.98 billion to $4.02 billion.
    Dentsply reported third-quarter net sales of $947 million,
compared with analysts' estimates of $975 million, according to
LSEG data.
    On an adjusted basis, the company earned 49 cents per share,
beating estimates of 48 cents.
    Dentsply also lowered its adjusted profit outlook for the
full year to between $1.80 per share and $1.85 per share, from
its previous forecast of $1.92 to $2.02 per share.
    "Dentsply is just the latest dental name to take a step
backward due to worsening macro conditions, though it seems to
be executing on its commercial initiatives despite these
headwinds," William Blair analyst Brandon Vazquez said.
    Rival Align Technology  ALGN.O  cut its annual sales
forecast in October after missing third-quarter profit
estimates.

 (Reporting by Vaibhav Sadhamta and Leroy Leo in Bengaluru;
Editing by Shounak Dasgupta)
 ((Vaibhav.Sadhamta@thomsonreuters.com))