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Dentsply Sirona Misses Q2 Targets - Plans Restructuring Plan Amid Weak Demand

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) shares are trading higher on Wednesday. The company reported second-quarter adjusted earnings per share of 49 cents, missing the street view of 50 cents, and quarterly sales of $984 million, missing the analyst consensus of $995.66 million. According to William Blair analyst Brandon Vazquez, largest miss came from Connected Technology Solutions (equipment), which was down 16% on an organic basis. “Our second quarter results were unfavorably impacted by lower demand in our Connected Technology Solutions segment due to continued macroeconomic and competitive pressure,” said Simon Campion, President and Chief Executive Officer. Also Read: Asia Markets Up, Europe Opens Higher, Crude Advances 2.6% – Global Markets Today While US Slept In the second quarter of 2024, the company repurchased $150 million in stock and plans to buy back an additional $100 million in the third quarter. In his research note, Vazuez adds that end-markets remain challenging, and Dentsply is not immune to headwinds, but the company has levers to pull to help outperform peers (costsavings, unique products, and share ...