Dentsply Sirona experienced an 8.9 percent drop in net sales during the third quarter, and the dental supply company is planning to make some changes to recover.
"We are not satisfied with third quarter results, however this quarter marks an important turning point as we enter our company's next chapter," Simon Campion, CEO of Dentsply Sirona said in a Nov. 14 news release. "We have initiated a comprehensive review of our entire business in order to improve our execution, build a winning portfolio and return the company to growth."
Seven things to know:
1. Dentsply Sirona saw $947 million in net sales — an 8.9 percent decrease from the third quarter of 2021, when they racked up $1.04 billion.
2. The company saw a net loss of $1.07 billion, compared to $84 million during the third quarter of 2021.
3. Foreign currency translation negatively impacted sales by 8.2 percent.
4. The company's adjusted earnings per diluted share decreased to $0.41, compared to $0.60 in the third quarter of 2021.
5. Dentsply Sirona's operating cash flow was $109 million. Last year, it was $172 million.
6. The company saw $391 million in net consumable sales — down 8.7 from last year.
7. Dentsply Sirona saw $556 million in net technology and equipment sales — down 9 percent from last year.