Dentsply Sirona Expects Q2 Sales of Over $1B, To Miss Quarterly Filing Deadline

Dentsply Sirona Inc XRAY expects to report Q2 FY22 net sales of over $1.01 billion. Additionally, diluted EPS is expected to be at or above $0.26 and adjusted EPS at or above $0.60.
The company said that though sales declined Y/Y due to the unfavorable impact of foreign exchange, the business delivered organic sales growth driven by solid European regional performance and demand in CAD/CAM, Equipment & Instruments, and Restorative and Preventive Consumables.
The company continued to experience macro headwinds, including ongoing supply shortages and softness in sales in China due to COVID-related shutdowns.
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Dentsply Sirona declared a quarterly cash dividend of $0.125 per share payable October 14 as of the record date of September 30.
As previously disclosed, the Audit Committee is conducting an internal investigation regarding certain financial reporting matters. XRAY expects it cannot file its Quarterly Report on Form 10-Q for the period ended June 30 by the August 9 deadline.
Price Action: XRAY shares are up 0.64% at $36.14 on the last check Friday.