logo
Plus   Neg
Share
Email

Dentsply Sirona Announces Restructuring Plan - Quick Facts

Dentsply Sirona Inc. (XRAY) announced a restructuring plan that is anticipated to achieve $200-$225 million in net annual cost savings by 2021, through streamlining the organization and consolidating functions. The execution of the plan is anticipated to result in annualized topline growth of 3-4%, an adjusted operating income margin of 20% by the end of 2020, and an adjusted operating income margin of 22% by 2022. The plan anticipates a net reduction in global workforce of approximately 6-8%.

For the third-quarter, non-GAAP net earnings per diluted share were $0.38 compared to $0.70 in the third quarter of 2017. Reported net sales were $928.4 million declined 8.0% from the third quarter of 2017, and declined 6.5% on an internal basis.

As a result of weaker than expected performance in the third quarter of 2018, management now anticipates 2018 adjusted EPS at or slightly below the low end of the previously announced guidance range of $2.00 to $2.15 per diluted share. The 2018 guidance assumes a constant currency revenue decline of approximately 2% for the full year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Morgan Stanley has cut its worst-case forecast on Tesla Inc.'s share price from the previous estimate of $97 to just $10, dealing another blow to the luxury electric car maker. The worst-case or "bear case" scenario by Morgan Stanley analysts takes into account the risk posed if Tesla misses its current sales outlook for China by about half. Snap Inc. on Monday announced the promotion of two executives as the company restructures its management team. The parent company of messaging app Snapchat said it has appointed Derek Andersen, currently its vice president of finance, as chief financial officer. The company also named interim CFO Lara Sweet as its first chief people officer. Both appointments are effective immediately. Nike Inc., Adidas AG and other footwear companies have urged U.S. President Donald Trump to reconsider his proposed tariffs on shoes imported from China, noting that any increase in the cost of importing shoes has a direct impact on the American footwear consumer. In a letter, more than 170 footwear companies have urged the President to immediately remove footwear from the proposed tariffs.
Follow RTT