15 February 2023

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Envista reports fourth quarter 2022 earnings

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Envista Holdings Corporation announced on Feb. 8 results for the fourth quarter 2022 and fiscal year 2022. 

As previously disclosed, on Dec. 31, 2021, the company completed the sale of the KaVo Treatment Unit and Instrument business. All results in this news release reflect only continuing operations unless otherwise noted. 

For the quarter that ended Dec. 31, 2022, reported sales increased 1.4% to $660.8 million with core sales growth of 2.3% over the corresponding quarter in 2021.

For the fourth quarter of 2022, net income was $73.5 million or $0.42 per diluted share. During the same period, adjusted net income was $91.9 million or $0.52 per diluted share compared to adjusted net income of $81.1 million or $0.46 per diluted share in the same period of 2021. Adjusted EBITDA for the fourth quarter of 2022 was $138.3 million compared to $120.7 million in the fourth quarter of 2021. 

CEO Amir Aghdaei said in the news release that the team delivered strong results amidst a dynamic and volatile macro environment. 

"For the full year 2022, we delivered core sales growth of 4.1% and expanded our adjusted EBITDA margins to 20.1%," he said. "Driven by our customer centric and continuous improvement culture and the Envista Business System, we continue to build on our proven track record of execution."  

Aghdaei said that Envista remains committed to partnering with dental professionals to improve patients' lives by digitizing, personalizing and democratizing dental care. 

"We are well positioned to accelerate long-term growth, expand margins, and create long-term value for patients, customers, shareholders, and our employees," he said.            

About Envista

Envista is a global family of more than 30 trusted dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr united by a shared purpose: to partner with professionals to improve lives. Envista helps its customers deliver the best possible patient care through industry-leading dental consumables, solutions, technology, and services. Its comprehensive portfolio, including dental implants and treatment options, orthodontics, and digital imaging technologies, covers a wide range of dentists' clinical needs for diagnosing, treating, and preventing dental conditions as well as improving the aesthetics of the human smile. With a foundation comprised of the proven Envista Business System (EBS) methodology, an experienced leadership team, and a strong culture grounded in continuous improvement, commitment to innovation, and deep customer focus, Envista is well equipped to meet the end-to-end needs of dental professionals worldwide. Envista is one of the largest global dental products companies, with significant market positions in some of the most attractive segments of the dental products industry. For more information, please visit www.envistaco.com.