NVST
Envista Holdings Corporation21.90
-0.16-0.73%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Colors guidance upsides, VBP details
Q&A fleshed out upsides to conservative 2%-4% core growth guidance—Diagnostics recovery, consumables momentum, extra pricing—against macro volatility and China VBP timing risks, framing it as prudent despite Q4's 10.8% beat from easy comps and ortho deferral. Management expects net revenue gains from ortho VBP (40%-45% price cut, matching volume lift) and smaller implant round, like prior benefits. Implants outgrew ~5% market via commercial push, not demand surge. Spark profitability held firm, unit costs down mid-teens YoY. China stays volatile. Guidance prudent, yet confident. Watch VBP timing, NA diagnostics trends.
Key Stats
Market Cap
3.64BP/E (TTM)
243.33Basic EPS (TTM)
0.09Dividend Yield
0%Recent Filings
10-K
FY2025 results
Envista drove FY2025 sales to $2.7B, up 8.3% y/y with core growth of 6.5%, fueled by volume gains and clear aligner momentum while pricing added 2.0%. Specialty Products & Technologies hit $1.8B (up 8.4% y/y, core 6.3%), margins jumping to 10.9% on higher volumes and no prior impairments; Equipment & Consumables reached $967M (up 8.1% y/y, core 6.9%), margins dipping to 16.3% from FX and mix. Q4 accelerated growth via North America and Europe strength, yet tariffs and FX headwinds pressured costs. Buybacks consumed $166M; $1.2B cash supports debt of $1.5B. Cybersecurity threats loom large.
8-K
Q4 core sales +10.8%
Envista reported Q4 2025 sales of $751M, up 15% with 10.8% core growth, and adjusted EBITDA of $111M, surging 22% to 14.8% margin. Full-year core sales grew 6.5% to $2,719M, adjusted EBITDA up 26% to $372M, while repurchasing $166M in shares. Growth spanned all businesses. 2026 guides 2-4% core sales growth.
10-Q
Q3 FY2025 results
Envista's Q3 sales hit $669.9M, up 11.5% y/y, with gross margin expanding to 55.3% from 52.8% on volume and pricing gains in Specialty Products & Technologies (13.0% y/y sales growth) and Equipment & Consumables. Operating profit surged to $57.5M from $20.9M, yet Q3 net loss of $30.3M reflects $80.2M tax expense from foreign subsidiary restructuring—far exceeding operating profit. Cash swelled to $1.1B, operating cash flow $167.7M YTD (FCF not disclosed in the 10-Q), while repaying 2025 notes and buying back $142M stock. Debt stands at $1.4B (due 2028). Competition pressures pricing in dental consumables.
8-K
Q3 sales beat, margins soar
Envista beat Q3 expectations with $670M sales, 9.4% core growth, adjusted EBITDA of $97M (14.5% margin, +540 bps YoY), and adjusted EPS of $0.32 (+167% YoY), despite a $30M GAAP net loss from intercompany loan restructuring tax charge. All major businesses grew; Spark aligners turned profitable. Shares repurchased: 2.1M for $41M. 2025 guidance lifted to ~4% core sales growth, $1.10-$1.15 adjusted EPS.
8-K
2024 Sustainability Report out
IPO
Website
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