Dentsply Sirona Inc.(XRAY), a maker of dental products and technologies, reported Tuesday that its fourth-quarter net loss was $15 million or $0.07 per share, compared to net income of $119 million or $0.54 per share last year.
Adjusted earnings per share were $0.46, compared to $0.83 in 2021.
On average, 12 analysts polled by Thomson Reuters expected earnings of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.
Fourth-quarter net sales of $983 million decreased 10.9 percent from last year's $1.10 billion. Organic sales decreased 2.6 percent. Analysts estimated revenues of $941.37 million for the quarter.
Looking ahead for the first quarter, the company expects organic sales growth of approximately 1 percent and adjusted EBITDA margin to be greater than 15 percent.
Further, for fiscal 2023, the company projects adjusted earnings per share in the range of $1.80 to $2.00, and adjusted EBITDA margin to be greater than 18 percent.
Going forward, the Company said it will use adjusted EBITDA margin as its primary profitability metric.
Annual net sales will be in the range of $3.85 billion to $3.95 billion, down 1 percent to up 2 percent on an organic basis.
For the year, the Street is looking for earnings of $1.84 per share on revenues of $3.82 billion.
In fiscal 2022, adjusted earnings per share were $2.09 on net sales of $3.92 billion.
In pre-market activity on Nasdaq, the shares were gaining around 3 percent to trade at $35.58.
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