Dentsply Sirona beats expectations with post-merger Q1

Dentsply Sirona (NSDQ:XRAY) topped expectations with its 1st quarterly results since closing closing the $5.6 billion merger in February created the world’s largest dental equipment maker. York, Pa.-based Dentsply Sirona posted profits of $125.0 million, or 70¢ per share, on sales of $772.6 million for the 3 months ended March 31, for profit growth of 95.3% on sales growth of 17.7% compared with Q1 2015. Adjusted to exclude 1-time items, earnings per share were 69, 6 ahead of the consensus on Wall Street, where analysts were looking for sales of $741.8 million. “I am very pleased that our combined management team, our 15,000 employees and our business partners came together to deliver strong 1st-quarter results. With the merger completed, Dentsply Sirona, the dental solutions company, will focus on empowering dental professionals to deliver better, safer and faster dental care and create significant value for practitioners, labs, patients and shareholders around the globe,” CEO Jeffrey Slovin said in prepared remarks. “We are in the early days of our new company, but are committed to accelerating growth and returning capital to shareholders. During the quarter we delivered 5.5% internally generated sales growth and leveraged our operations to deliver 16.9% adjusted EPS growth. We raised our dividend and repurchased $500 million of common stock, consistent with the announcement we made at the time of the merger. Overall, the team is energized about...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Dental MassDevice Earnings Roundup Mergers & Acquisitions Wall Street Beat Dentsply Sirona Source Type: news