Analyst Downgrades Dental Player Envista As Outlook Hinges on Improved Commercial Execution, Strategic Initiative Effectiveness
Wednesday, Envista Holdings Corporation (NYSE:NVST) reported third-quarter 2024 sales of $645.6 million, beating the consensus of $643.44 million. Core sales declined 2% Y/Y in the quarter.
Net loss in the fourth quarter was $217.4 million or $1.27 per diluted share. The net loss included a $258.3 million non-cash charge related to the impairment of goodwill and intangible assets.
Adjusted net income was $49.7 million or $0.29 per diluted share compared to adjusted net income of $91.9 million or $0.52 a year ago.
Adjusted EBITDA for the fourth quarter of 2023 was $100.5 million compared to $138.3 million in the fourth quarter of 2022.
Amir Aghdaei, Chief Executive Officer, stated, “Despite a volatile macro backdrop in 2023, the Envista team delivered full year results in line with our expectations. For the …
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