Dentsply Sirona Q2 organic sales +2.3%, raises FY guidance; discloses material weakness

DENTSPLY SIRONA Inc.

2023-Q2 EPS reported $0.31 revenue$2,006,000,000

Q2 net sales $1,028M (+0.5% reported, +2.3% organic); GAAP EPS $0.40, adj. EPS $0.51.
Raises FY23 net sales midpoint by $75M to $3.98-4.02B; adj. EPS outlook to $1.92-2.02.
Discloses new material weakness over manual journal entry segregation of duties as of Dec. 31, 2022.
Prior 10-K and Q1 10-Q internal control reports no longer reliable; financial statements unchanged.
Effective Q2 2023, reportable segments realigned to four: Connected Tech, Essential Dental, Ortho/Implant, Wellspect.

item 2.02 item 5.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DENTSPLY SIRONA Inc. reported second quarter ended June 30, 2023 results: revenue $1,028 million, net income $86 million, EPS $0.40 per diluted share. Guidance raised.

Period: second quarter ended June 30, 2023
Revenue: $1,028 million
Net income: $86 million
EPS: $0.40 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Second quarter net sales of $1,028 million increased 0.5% (organic sales increased 2.3%), compared to $1,023 million in the second quarter of 2022. Net income for the second quarter of 2023 was $86 million, or $0.40 per diluted share, compared to net income of $73 million, or $0.34 per diluted share in the second quarter of 2022.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

DENTSPLY SIRONA Inc.: Amended and Restated By-laws to adopt Universal Proxy Rule requirements and conform to recent Delaware law amendments, effective immediately (effective 2023-07-27).

Change: bylaw amendment
Effective: 2023-07-27

Exact text from the filing

On July 27, 2023, the Board of Directors (the “Board”) of DENTSPLY SIRONA Inc. (the “Company”) adopted and approved the Seventh Amended and Restated By-laws of the Company (as amended and restated, the “Amended and Restated Bylaws”), effective immediately.

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Source: SEC EDGAR

accession 0000818479-23-000052

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