earnings
confidence high
sentiment negative
materiality 0.85
Envista Q2 net loss $1.15B on $1.15B goodwill impairment; guides FY core sales down 1-4%
Envista Holdings Corp
2024-Q2 EPS reported
-$6.56
revenue$1,256,700,000
- Net loss $1,151.6M ($6.69 per share) includes $1,153.8M non-cash goodwill and intangible impairment.
- Adjusted net income $18.5M ($0.11 adj EPS) vs $76.2M ($0.43) in Q2 2023.
- Reported sales $633.1M; core sales declined 3.2% YoY; adjusted EBITDA fell to $63.0M from $126.2M.
- FY 2024 guidance: core sales decline 1%-4%, adj EBITDA margin 10%-12%; expects Q3 further decline, Q4 return to growth.
- CEO Paul Keel cited repositioning actions including new permanent CFO and Presidents for two largest businesses.