Q4 2024 DENTSPLY SIRONA Inc Earnings Call Transcript
Key Points
- Dentsply Sirona Inc (XRAY) saw a return to organic sales growth in Europe, with approximately 2% growth in Q4 2024.
- Global growth in Imaging was nearly 13%, indicating strong performance in this segment.
- SureSmile continued to grow globally, achieving a nearly 4% increase over the prior year quarter, with over 20% growth in Europe for Q4 and the full year.
- Wellspect exceeded estimated market growth rates, posting approximately 7% growth.
- The company completed the largest individual phase of its ERP deployment in the US, which went live on November 1, 2024, laying important foundations for future phases.
- Dentsply Sirona Inc (XRAY) recorded non-cash charges for the impairment of goodwill and other intangibles of approximately $370 million net of tax.
- The voluntary suspension of sales and marketing of Byte aligners resulted in a charge for customer refunds, negatively impacting Q4 results.
- Organic sales in the Orthodontic & Implant Solutions segment declined 28.7%, primarily driven by the impact from Byte.
- US sales declined 29.9%, largely due to Byte, CAD/CAM, and the timing of EDS distributor orders.
- The macro environment, challenging marketing, and competitive dynamics have created headwinds on organic sales, making the $3 adjusted EPS target unachievable in 2026.
Good day, and thank you for standing by. Welcome to the Q4 2024 Dentsply Sirona earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Andrea Daley, Vice President of Investor Relations.
Andrea Daley
Thank you, Josh, and good morning, everyone. Welcome to the Dentsply Sirona fourth quarter 2024 earnings call. Joining me for today's call is Simon Campion, Chief Executive Officer; Herman Cueto, Interim Chief Financial Officer; and Rich Rosenzweig, Executive Vice President, Corporate Development and General Counsel.
I'd like to remind you that an earnings press release and slide presentation related to the call are available in the Investors section of our website at www.dentsplypsirona.com. Before we begin, please take a moment to read the forward
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