NVST - Dental Firm Envista Q3 Performance Disappoints Uncertainty Macro Headwinds To In Short Term | Benzinga
Wednesday, after close, Envista Holdings Corporation (NYSE: NVST) reported Q3 sales of $631.3 million, almost flat Y/Y, missing the consensus of $648.636 million. Core sales increased 0.8% over the corresponding quarter in 2022.
Adjusted EPS reached $0.43 compared to $0.47 a year ago and missing the consensus of $0.46. Adjusted EBITDA declined from $123.5 million to $127.6 million.
Guidance: The company said that due to the continued uncertainties in the macro environment, volatility in the North American distribution channel, and continued investment in long-term growth initiatives, it expects FY23 core sales to be down slightly and adjusted EBITDA margin to be between 18%-19%.
Piper Sandler downgraded the stock to Neutral from Overweight with a ...