Stock Monitor: Cooper Cos. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 15, 2017 / Active-Investors free earnings report on DENTSPLY SIRONA Inc. (NASDAQ: XRAY) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=XRAY. The Company posted its financial results on November 02, 2017, for the third quarter fiscal 2017. The Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, DENTSPLY SIRONA most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
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Earnings Highlights and Summary
For three months ended September 30, 2017, DENTSPLY's net revenues increased 5.8% to $1.01 billion from $954.2 million in Q3 FY16. For the reported quarter, the Company's net revenue excluding precious metals increased 6.5% to $999.8 million from $939.2 million in Q3 FY16. The Company's net revenue surpassed analysts' expectations of $978.0 million.
For the reported quarter, the Company's net revenue in the US increased 8.4% to $363.8 million on a y-o-y basis and net revenue excluding precious metals increased 8.4% to $362.3 million on a y-o-y basis. For the reported quarter, the Company's net revenue in Europe increased 8.2% to $386.6 million on a y-o-y basis and net revenue excluding precious metals increased 9% to $379.6 million on a y-o-y basis. For the reported quarter, the Company's net revenue in rest of the world decreased 1% to $258.8 million on a y-o-y basis and net revenue excluding precious metals increased 0.5% to $257.9 million on a y-o-y basis.
During Q3 FY17, DENTSPLY's gross profit increased 8.8% to $559 million from $513.6 million in the same period last year. For the reported quarter, the Company's gross margin increased 160 basis points to 55.4% of revenue from 53.8% of revenue in the third quarter of last year.
During Q3 FY17, DENTSPLY's operating income decreased 14.8% to $107.9 million from $126.6 million in the same period last year. For the reported quarter, the Company's operating margin decreased 260 basis points to 10.7% of revenue from 13.3% of revenue in the third quarter of last year. For the reported quarter, the Company's adjusted operating margin increased 30 basis points to 21.1% of revenue from 20.8% of revenue in the third quarter of last year.
During Q3 FY17, DENTSPLY's earnings before tax (EBT) decreased 16.7% to $97.6 million from $117.1 million in the same period last year. For the reported quarter, the Company's EBT margin decreased 260 basis points to 9.7% of revenue from 12.3% of revenue in the third quarter of last year.
For the reported quarter, DENTSPLY's net income decreased 2.1% to $90.6 million from $92.5 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS was $0.39, on par with $0.39 in the same period last year. For the reported quarter, DENTSPLY's adjusted net income increased 5.6% to $164.3 million on a y-o-y basis from $155.6 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 6.1% to $0.70 on a y-o-y basis from $0.66 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.66.
DENTSPLY's Segment Details
Implants, CAD/CAM, Prosthetics & Healthcare - During Q3 FY17, the Company's Implants, CAD/CAM, Prosthetics & Healthcare segment's net revenue increased 3.1% to $394.8 million from $382.8 million in the same period last year. For the reported quarter, the segment's adjusted operating income increased 1.2% to $85.2 million from $84.2 million in Q3 FY16.
Chairside Consumables & Endodontics - During Q3 FY17, the Company's Chairside Consumables & Endodontics segment's net revenue increased 7.6% to $412.6 million from $383.5 million in the same period last year. For the reported quarter, the segment's adjusted operating income increased 14.5% to $126.9 million from $110.8 million in Q3 FY16.
Imaging, Treatment Centers & Orthodontics -During Q3 FY17, the Company's Imaging, Treatment Centers & Orthodontics segment's net revenue increased 7.4% to $201.8 million from $187.9 million in the same period last year. For the reported quarter, the segment's adjusted operating income increased 73.9% to $40.0 million from $23.0 million in Q3 FY16.
Balance Sheet
As on September 30, 2017, DENTSPLY's cash and cash equivalents decreased 3.6% to $370 million from $383.9 million on December 31, 2016. For the reported quarter, the Company's long-term debt increased 5.9% to $1.60 billion from $1.51 billion in Q4 FY16
In the first nine months of 2017, the Company's cash provided by operating activities increased 9.4% to $373 million from $341 million in the same period last year.
On December 12, 2017, the Company's Board of Directors declared a quarterly cash dividend of $0.088 per share payable on January 12, 2018, to holders of record on December 29, 2017.
Outlook
For FY17, the Company expects adjusted diluted EPS to be in the range of $2.65 to $2.70.
Stock Performance Snapshot
December 14, 2017 - At Thursday's closing bell, DENTSPLY SIRONA's stock was slightly down 0.62%, ending the trading session at $65.65.
Volume traded for the day: 937.20 thousand shares.
Stock performance in the last month – up 0.40%; previous three-month period – up 10.63%; past twelve-month period – up 10.02%; and year-to-date – up 13.72%
After yesterday's close, DENTSPLY SIRONA's market cap was at $15.20 billion.
The stock has a dividend yield of 0.53%.
The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry.
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