Dentsply Sirona reported third quarter 2024 net sales of $951 million, an increase of 0.5% compared to the third quarter of 2023, with organic sales growing by 1.3%. The company posted a net loss of ($494) million, or ($2.46) per share, which included non-cash charges for the impairment of goodwill totaling ($495) million net of tax within the Orthodontic and Implant Solutions segment.
Adjusted earnings per diluted share for the quarter were $0.50, compared to $0.49 in the prior year period. Operating cash flow for the third quarter of 2024 was $141 million, an increase from $134 million in the prior year, driven by favorable timing of accounts payable and improved inventory management.
The company revised its full-year 2024 outlook, now expecting organic sales to be in the range of (3.5%) to (2.5%) year-over-year, a reduction from the previous outlook of (1%) to flat. Adjusted EPS guidance was also lowered to $1.82 to $1.86, down from the prior range of $1.96 to $2.02. CEO Simon Campion stated that the Byte suspension was due to the patient onboarding workflow not providing adequate assurance that certain contraindicated patients do not enter treatment with Byte Aligners, and the company is thoroughly evaluating strategic options for the business, including discontinuation.
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