Dental supply company Envista reported $623.6 million in sales during the first quarter of 2024, an increase of 0.4% in core sales over the first quarter of 2023.
The company brought in $45.8 million in adjusted net income during the quarter, a decrease of more than $20 million compared to the adjusted net income of $67.8 million Envista posted in the same period in 2023, according to a May 1 news release.
Envista's adjusted EBITDA was $87.2 million in the first quarter of 2024, a drop from $114 million from the first quarter last year.
"As expected, our first-quarter results proved challenging as we continue to prioritize long-term investments to accelerate growth and drive profitability," former CEO Amir Aghdaei said. "While we have yet to reach an inflection point, we have made meaningful progress in the quarter."
Paul Keel has since taken over as Envista's new CEO, with the appointment becoming effective May 1. Mr. Aghdaei remains with the company as a senior adviser.