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Discover Latest #Exchange rate News, Articles and Videos with Contenting
1. "Brexit: Pound Falls to 30-Year Low Against Dollar" 2. "U.S. Dollar Falls to Lowest Level Since 2018 Against Euro" 3. "U.S. Dollar Hits New High Against Peso as Mexico's Economy Struggles" 4. "China's Currency Strengthens Against U.S. Dollar as Trade War Intensifies" 5. "Euro Slumps Against Chinese Yuan as Trade War Continues" 6. "Dollar Rises Against Japanese Yen on Strong Economic Data" 7. "Pound Jumps Against Dollar as Brexit Talks Resume" 8. "Australian Dollar Falls to Lowest Level in More Than a Decade Against U.S. Dollar" 9. "U.S. Dollar Rises Against Canadian Dollar on Improved Trade Outlook" 10. "U.S. Dollar Declines Against British Pound After Bank of England Meeting"
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Monday, early in the European session. WTI trades at $56.13 per barrel, down from Friday’s close at $58.16.Brent Oil Exchange Rate (Brent crude) is stable, hovering around its previous daily close at $61.35.
EUR: Weakened Merz doesn't do too much damage – ING
It's been quite an attractive story to tell that if German fiscal expansion caused the EUR/USD exchange rate to rise significantly in March (from 1.04 to 1.09), then a weakened Friedrich Merz should see EUR/USD fall a few figures back, ING's FX analyst Chris Turner notes.
Enovis Announces First Quarter 2025 Results - ForexTV
Continued commercial momentum with first-quarter sales growth of 8% on a reported basis and strong adjusted EBITDA margin expansion First-quarter Reconstructive sales grew 11% year-over-year on a reported basis Appointed Damien McDonald as CEO, effective May 12th, 2025 Wilmington, DE, May 08, 2025 (GLOBE NEWSWIRE) -- Enovis™ Corporation (“Enovis” or “the Company”) (NYSE: ENOV), an innovation-driven medical technology growth company, today announced its financial results for the first quarter ended April 4, 2025. The Company will host an investor conference call and live webcast to discuss these results today at 8:30 am ET. First Quarter 2025 Financial Results Enovis’ first-quarter net sales of $559 million grew 8% on a reported basis and 9% (+10% xFX) on a comparable basis from the same quarter in 2024. First quarter results reflect continued execution in P&R, a rebound in growth in Recon, and accelerating momentum in new product introductions. Compared to the same quarter in 2024, net sales in Recon grew 11% on a reported and comparable basis (+13% xFX), and P&R grew 5% on a reported basis and 7% (+8% xFX) on a comparable growth basis. Enovis also reported first-quarter net loss from continuing operations of $56 million, or a loss of 10.0% of sales, and adjusted EBITDA of $99 million, or 17.7% of sales, an increase of 160 basis points versus the comparable prior-year quarter. The Company reported first-quarter 2025 net loss from continuing operations of $0.98 per share and adjusted net earnings per diluted share of $0.81. “We delivered a strong start to 2025, with first-quarter revenues and margins exceeding expectations,” said Matt Trerotola, Chief Executive Officer of Enovis. “This performance reflects the strength of our business system and the discipline of our teams as we navigate a complex global environment. As we move forward, we remain focused on driving above-market growth through disciplined execution, strategic investment, and a multi-year cadence of high-impact product launches across our portfolio.” 2025 Financial Outlook Enovis updated financial expectations for 2025. Revenue is expected to be in the range of $2.22-2.25 billion, versus prior expectations of $2.19-2.22 billion. Adjusted EBITDA is forecasted to be $385-395 million, as compared to the prior outlook of $405-415 million, and now includes $20mm of tariff related impact. Full-year adjusted earnings per share was updated from $3.10-$3.25 to $2.95-$3.10. Conference call and Webcast Investors can access the webcast via a link on the Enovis website, www.enovis.com. For those planning to participate on the call, please dial (833) 335-0887 and use access code 482081. A link to a replay of the call will also be available on the Enovis website later in the day. About Enovis Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent and innovation, the Company’s extensive range of products, services and integrated technologies fuels active lifestyles in orthopedics and beyond. The Company’s shares of common stock are listed in the United States on the New York Stock Exchange under the symbol ENOV. For more information about Enovis, please visit www.enovis.com. Availability of Information on the Enovis Website Investors and others should note that Enovis routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the Enovis Investor Relations website. While not all of the information that the Company posts to the Enovis Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in Enovis to review the information that it shares on ir.enovis.com. Forward-Looking Statements This press release includes forward-looking statements, including forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning Enovis’ plans, goals, objectives, outlook, expectations and intentions, and other statements that are not historical or current fact. Forward-looking statements are based on Enovis’ current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Enovis’ results to differ materially from current expectations include, but are not limited to, risks related to Enovis’ acquisition of Lima; the impact of public health emergencies and global pandemics; disruptions in the global economy caused by escalating geopolitical tensions including in connection with Russia’s invasion of Ukraine; macroeconomic conditions, including the impact of inflationary pressures; changes in government trade policies, including the implementation of tariffs; supply chain disruptions; increasing energy costs and availability concerns, particularly in the European market; other impacts on Enovis’ business and ability to execute business continuity plans; and the other factors detailed in Enovis’ reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including its most recent Annual Report on Form 10-K under the caption “Risk Factors,” as well as the other risks discussed in Enovis’ filings with the SEC. In addition, these statements are based on assumptions that are subject to change. This press release speaks only as of the date hereof. Enovis disclaims any duty to update the information herein. Non-GAAP Financial Measures Enovis has provided in this press release financial information that has not been prepared in accordance with accounting principles generally accepted in the United States of America (“non-GAAP”). These non-GAAP financial measures may include one or more of the following: adjusted net income from continuing operations (“Adjusted net income”), Adjusted net income per diluted share, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted gross profit, Adjusted gross profit margin, Comparable sales, Comparable sales growth, and Comparable sales growth on constant currency basis. Adjusted net income and Adjusted net income per diluted share exclude restructuring and other charges, Medical Device Regulation (“MDR”) fees and other costs, strategic transaction costs, stock-based compensation, acquisition-related intangible asset amortization, strategic purchase of economic interest on future royalty payments, insurance settlement loss (gain), goodwill impairment charges, property plant and equipment step-up depreciation, and fair value charges on acquired inventory, Other (income) expense, net, and include the tax effect of adjusted pre-tax income at applicable tax rates and other tax adjustments. Enovis also presents Adjusted net income margin, which is subject to the same adjustments as Adjusted net income. Adjusted EBITDA represents Adjusted net income excluding interest, taxes, and depreciation and amortization. Enovis presents Adjusted EBITDA margin, which is subject to the same adjustments as Adjusted EBITDA. Adjusted gross profit represents gross profit excluding the fair value charges of acquired inventory, depreciation step-up of acquired fixed assets, and the impact of restructuring and other charges. Adjusted gross profit margin is subject to the same adjustments as Adjusted gross profit. Comparable sales adjusts net sales for prior periods to include the sales of acquired businesses prior to our ownership from acquisitions that closed in the periods presented and to exclude the net sales of certain non-core product lines that were divested or discontinued, as applicable, during the periods presented. Comparable sales growth represents the change in Comparable sales for the current period from Comparable sales for the prior year period. Comparable sales growth on constant currency basis represents Comparable sales growth excluding the impact of foreign exchange rate fluctuations based on prior year sales valued at the current period foreign currency rates. Comparable sales, comparable sales growth and comparative sales growth on a constant currency basis are presented for illustrative purposes only and do not and are not intended to comply with Article 11 of Regulation S-X promulgated by the SEC in respect of proforma financial information, and may differ, including materially, from proforma financial statements presented in accordance therewith. These non-GAAP financial measures assist Enovis management in comparing its operating performance over time because certain items may obscure underlying business trends and make comparisons of long-term performance difficult, as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete restructuring plans that are fundamentally different from the ongoing productivity improvements of the Company. Enovis management also believes that presenting these measures allows investors to view its performance using the same measures that the Company uses in evaluating its financial and business performance and trends. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information calculated in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of non-GAAP financial measures presented above to GAAP results has been provided in the financial tables included in this press release. Enovis does not provide reconciliations of adjusted EBITDA or adjusted earnings per share on a forward-looking basis to the closest GAAP financial measures, as such information is not available without unreasonable efforts on a forward-looking basis due to uncertainties regarding, and the potential variability of, reconciling items excluded from these measures. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. Kyle RoseVice President, Investor RelationsEnovis Corporation+1-917-734-7450investorrelations@enovis.com Enovis CorporationCondensed Consolidated Statements of OperationsDollars in thousands, except per share data(Unaudited) Three Months Ended April 4, 2025 March 29, 2024Net sales $ 558,834 $ 516,266 Cost of sales 226,605 218,370 Gross profit 332,229 297,896 Gross profit margin 59.5 % 57.7 %Selling, general and administrative expense 269,019 255,691 Research and development expense 28,528 23,377 Amortization of acquired intangibles 41,812 40,931 Purchase of royalty interest 35,777 — Restructuring and other charges 3,862 12,911 Operating loss (46,769) (35,014) Operating loss margin (8.4) % (6.8) %Interest expense, net 9,188 19,996 Other expense, net 1,392 24,235 Loss from continuing operations before income taxes (57,349) (79,245) Income tax benefit (1,769) (7,404) Net loss from continuing operations (55,580) (71,841) Loss from discontinued operations, net of taxes (125) — Net loss (55,705) (71,841) Net loss margin (10.0) % (13.9) %Less: net income attributable to noncontrolling interest from continuing operations - net of taxes 261 157 Net loss attributable to Enovis Corporation $ (55,966) $ (71,998) Net income (loss) per share - basic and diluted Continuing operations $ (0.98) $ (1.32) Discontinued operations $ — $ — Consolidated operations $ (0.98) $ (1.32) Enovis CorporationReconciliation of GAAP to Non-GAAP Financial MeasuresDollars in millions, except per share data(Unaudited) Three Months Ended April 4, 2025 March 29, 2024Adjusted Net Income and Adjusted Net Income Per Share Net loss from continuing operations attributable to Enovis Corporation(1) (GAAP)$ (55.8) $ (72.0) Restructuring and other charges - pretax(2) 3.9 12.9 MDR and other costs - pretax(3) 3.2 4.9 Amortization of acquired intangibles - pretax 41.8 40.9 Inventory step-up and PPE step-up depreciation - pretax(4) 12.7 5.1 Strategic transaction costs - pretax(5) 12.1 20.8 Purchase of royalty interest(6) 35.8 — Stock-based compensation 7.4 6.4 Other (income) expense, net(7) 1.4 24.2 Tax adjustment(8) (16.0) (15.6) Adjusted net income from continuing operations (non-GAAP)$ 46.5 $ 27.7 Adjusted net income margin from continuing operations 8.3 % 5.4 % Weighted-average shares outstanding - diluted (GAAP) 56,792 54,687 Net loss per share - diluted from continuing operations (GAAP)$ (0.98) $ (1.32) Adjusted weighted-average shares outstanding - diluted (non-GAAP) 57,374 55,273 Adjusted net income per share - diluted from continuing operations (non-GAAP)$ 0.81 $ 0.50 __________(1) Net loss from continuing operations attributable to Enovis Corporation for the respective periods is calculated using Net loss from continuing operations less the continuing operations component of the income attributable to noncontrolling interest, net of taxes.(2) Restructuring and other charges includes an immaterial expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three months ended April 4, 2025.(3) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union MDR. These costs are classified as Selling, general and administrative expense on our Condensed Consolidated Statements of Operations.(4) Includes $12.1 million in inventory step-up charges and $0.6 million in PPE step-up depreciation in connection with acquired businesses for the three months ended April 4, 2025. Includes $5.1 million in inventory step-up charges in connection with acquired businesses for the three months ended March 29, 2024.(5) Strategic transaction costs includes integration costs related to recent acquisitions and Separation-related costs.(6) In the first quarter of 2025, we completed strategic purchases of economic interest on future royalty payments in our intellectual property (“royalty interest”) for a fixed price of $43.8 million, which will be paid over seven years. We accrued a liability and recognized a $35.8 million charge for the net present value of the purchases.(7) Other (income) expense, net primarily includes the fair value gain on Contingent Acquisition shares, partially offset by the first quarter of 2024 loss on the non-designated forward currency hedge for managing exchange rate risk related to the Euro-denominated purchase price of the Lima Acquisition.(8) The effective tax rates used to calculate adjusted net income and adjusted net income per share were 23.4% for the three months ended April 4, 2025, respectively, and 22.7% for the three months ended March 29, 2024, respectively. Enovis CorporationReconciliation of GAAP to Non-GAAP Financial MeasuresDollars in millions(Unaudited) Three Months Ended April 4, 2025 March 29, 2024 (Dollars in millions)Net loss from continuing operations (GAAP)$ (55.6) $ (71.8) Income tax benefit (1.8) (7.4) Other (income) expense, net 1.4 24.2 Interest expense, net 9.2 20.0 Operating loss (GAAP) (46.8) (35.0) Adjusted to add: Restructuring and other charges(1) 3.9 12.9 MDR and other costs(2) 3.2 4.9 Strategic transaction costs(3) 12.1 20.8 Stock-based compensation 7.4 6.4 Depreciation and other amortization 29.6 27.2 Amortization of acquired intangibles 41.8 40.9 Purchase of royalty interest(4) 35.8 — Inventory step-up 12.1 5.1 Adjusted EBITDA (non-GAAP)$ 99.2 $ 83.2 Adjusted EBITDA margin (non-GAAP) 17.7 % 16.1 % __________(1) Restructuring and other charges includes an immaterial expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three months ended April 4, 2025.(2) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union MDR. These costs are classified as Selling, general and administrative expense on our Condensed Consolidated Statements of Operations.(3) Strategic transaction costs includes integration costs related to recent acquisitions and Separation-related costs.(4) In the first quarter of 2025, we completed strategic purchases of economic interest on future royalty payments in our intellectual property (“royalty interest”) for a fixed price of $43.8 million, which will be paid over seven years. We accrued a liability and recognized a $35.8 million charge for the net present value of the purchases. Enovis CorporationReconciliation of Gross Margin (GAAP) to Adjusted Gross Margin (non-GAAP)Dollars in millions(Unaudited) Three Months Ended April 4, 2025 March 29, 2024Net sales$ 558.8 $ 516.3 Gross profit$ 332.2 $ 297.9 Gross profit margin (GAAP) 59.4 % 57.7 % Gross profit (GAAP)$ 332.2 $ 297.9 Inventory step-up and PPE step-up depreciation 12.7 5.1 Adjusted gross profit (Non-GAAP)$ 344.9 $ 303.0 Adjusted gross profit margin (Non-GAAP) 61.7 % 58.7 % Enovis CorporationCondensed Consolidated Balance SheetsDollars in thousands, except share amounts(Unaudited) April 4, 2025 December 31, 2024ASSETS CURRENT ASSETS: Cash and cash equivalents$ 38,460 $ 48,167 Trade receivables, less allowance for credit losses of $26,846 and $24,466 435,618 407,031 Inventories, net 585,911 547,120 Prepaid expenses 42,494 36,246 Other current assets 115,698 107,882 Total current assets 1,218,181 1,146,446 Property, plant and equipment, net 426,288 404,500 Goodwill 1,733,334 1,692,709 Intangible assets, net 1,344,547 1,317,429 Lease asset - right of use 65,949 68,915 Other assets 86,735 88,778 Total assets$ 4,875,034 $ 4,718,777 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current portion of long-term debt$ 20,028 $ 20,027 Accounts payable 188,149 179,098 Accrued liabilities 269,246 329,873 Total current liabilities 477,423 528,998 Long-term debt, less current portion 1,367,537 1,309,473 Non-current lease liability 49,161 52,461 Other liabilities 360,695 263,516 Total liabilities 2,254,816 2,154,448 Equity: Common stock, $0.001 par value; 133,333,333 shares authorized; 57,118,641 and 55,876,517 shares issued and outstanding as of April 4, 2025 and December 31, 2024, respectively 57 56 Additional paid-in capital 3,021,690 2,973,121 Accumulated deficit (338,989) (283,023)Accumulated other comprehensive loss (64,990) (127,892)Total Enovis Corporation equity 2,617,768 2,562,262 Noncontrolling interest 2,450 2,067 Total equity 2,620,218 2,564,329 Total liabilities and equity$ 4,875,034 $ 4,718,777 Enovis CorporationCondensed Consolidated Statements of Cash FlowsDollars in thousands(Unaudited) Three Months Ended April 4, 2025 March 29, 2024 Cash flows from operating activities: Net loss$ (55,705) $ (71,841)Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 71,435 73,404 Stock-based compensation expense 7,407 6,431 Non-cash interest expense 1,348 1,245 Fair value loss on contingent acquisition shares 1,787 13,443 Loss on currency hedges — 11,123 Deferred income tax benefit (1,769) (9,966)(Gain) loss on sale of property, plant and equipment (527) 265 Changes in operating assets and liabilities: Trade receivables, net (15,977) (12,009)Inventories, net (23,295) (11,051)Accounts payable 4,189 (11,752)Other operating assets and liabilities 9,511 (25,448)Net cash used in operating activities (1,596) (36,156)Cash flows from investing activities: Purchases of property, plant and equipment and intangibles (43,262) (36,928)Payments for acquisitions, net of cash received, and investments (18,858) (760,914)Cash received upon settlement of derivatives 1,601 — Net cash used in investing activities (60,519) (797,842)Cash flows from financing activities: Proceeds from borrowings on term credit facility — 400,000 Repayments of borrowings under term credit facility (5,000) (5,000)Proceeds from borrowings on revolving credit facilities and other 72,000 480,000 Repayments of borrowings on revolving credit facilities and other (10,438) (1,956)Payment of debt issuance costs — (703)Payments of tax withholding for stock-based awards (3,447) (4,772)Proceeds from issuance of common stock, net 341 871 Deferred consideration payments and other (2,265) (3,900)Net cash provided by financing activities 51,191 864,540 Effect of foreign exchange rates on Cash and cash equivalents 1,217 (828)Increase (decrease) in Cash and cash equivalents (9,707) 29,714 Cash and cash equivalents, beginning of period 48,167 44,832 Cash and cash equivalents, end of period$ 38,460 $ 74,546 Supplemental disclosures: Fair value of contingently issuable shares in business acquisition$ — $ 107,877 Enovis CorporationGAAP and Comparable Net SalesChange in SalesDollars in millions(Unaudited) Three Months Ended April 4, 2025 March 29, 2024 Growth Rate GAAP (In millions)Prevention & Recovery: U.S. Bracing & Support$ 115.1 $ 104.6 10.1 %U.S. Other P&R 66.6 66.4 0.4 %International P&R 90.9 88.1 3.2 %Total Prevention & Recovery 272.6 259.0 5.2 % Reconstructive: U.S. Reconstructive 137.9 123.7 11.4 %International Reconstructive 148.4 133.5 11.1 %Total Reconstructive 286.3 257.3 11.3 % Total$ 558.8 $ 516.3 8.2 % Three Months Ended April 4, 2025 March 29, 2024 Growth Rate Constant Currency Growth Rate (2) Comparable Sales (1) (In millions)Prevention & Recovery: U.S. Bracing & Support$ 115.1 $ 104.6 10.1 % 10.1 %U.S. Other P&R 66.6 63.6 4.7 % 4.7 %International P&R 90.9 86.5 5.1 % 7.6 %Total Prevention & Recovery 272.6 254.7 7.0 % 7.9 % Reconstructive: U.S. Reconstructive 137.9 123.7 11.4 % 11.4 %International Reconstructive 148.4 133.0 11.5 % 14.4 %Total Reconstructive 286.3 256.8 11.5 % 13.0 % Total$ 558.8 $ 511.4 9.3 % 10.4 % (1) Comparable sales adjusts net sales for prior periods to include the sales of acquired businesses prior to our ownership from acquisitions that closed after March 31, 2024 and to exclude the sales of certain non-core product lines that were divested or discontinued, as applicable, during the periods presented. There were no acquired business adjustments in the periods presented. (2) Comparable sales growth on a constant currency basis represents Comparable sales growth excluding the impact of foreign exchange rate fluctuations based on prior year sales valued at the current period foreign currency rates.
Prestige Consumer Healthcare Inc. Reports Record Fiscal 2025 Revenue and Earnings - ForexTV
Revenue of $296.5 million in Q4 and $1,137.8 million in fiscal 2025Organic revenue grew 7.9% in Q4 and 1.2% in fiscal 2025Diluted EPS of $4.29 in fiscal 2025; Adjusted fiscal 2025 Diluted EPS of $4.52 grew 7.4% versus adjusted prior yearReduced leverage to 2.4x at year-end driven by strong free cash flow and EBITDA growthInitial fiscal 2026 organic revenue growth and Diluted EPS outlook of approximately 1% to 2% and $4.70 to $4.82, respectively TARRYTOWN, N.Y., May 08, 2025 (GLOBE NEWSWIRE) -- Prestige Consumer Healthcare Inc. (NYSE:PBH) today reported financial results for its fourth quarter and fiscal year ended March 31, 2025. “We are very pleased with our fiscal year results, which delivered another year of consistent sales and earnings per share growth. The record fourth quarter sales performance exceeded our expectations, driven by continued International business strength, growth in a wide range of categories and brands in North America, and the success of the eCommerce channel thanks to our long-term investments and broad distribution. The resulting earnings growth translated into strong free cash flow which amplified shareholder returns through a continued disciplined capital allocation approach that included share repurchases, M&A, and deleveraging in the fiscal year,” said Ron Lombardi, Chief Executive Officer of Prestige Consumer Healthcare. Fourth Fiscal Quarter Ended March 31, 2025 Record reported revenues in the fourth quarter of fiscal 2025 of $296.5 million increased 7.0% from $277.0 million in the fourth quarter of fiscal 2024. Revenues increased 7.9% versus the prior fiscal fourth quarter excluding the impact of foreign currency. The revenue performance versus the prior year comparable period reflected broad-based growth across both North America and International business segments. GI and Women’s Health categories experienced the largest dollar growth versus the prior year, led by growth of the Summer’s Eve, Dramamine, and Fleet brands. Reported net income for the fourth quarter of fiscal 2025 was $50.1 million versus the prior year fourth quarter of $49.5 million. Diluted earnings per share of $1.00 for the fourth quarter of fiscal 2025 compared to $0.98 in the prior year comparable period. Non-GAAP adjusted net income for the fourth quarter of fiscal 2025 was $65.9 million and compared to the prior year period’s adjusted net income of $51.4 million. Non-GAAP adjusted diluted earnings per share of $1.32 per share for the fourth quarter of fiscal 2025 compared to $1.02 per share in the prior year comparable period. The adjustments to net income in the fourth quarter of fiscal 2025 and fourth quarter fiscal 2024 each reflects a tax rate adjustment to account for discrete items. Adjustments to net income in the fourth quarter of fiscal 2025 also included non-cash tradename impairments associated with non-strategic intangible assets, driven by a deliberate shift in sales and branding toward other strategic brands within our portfolio, and an associated tax adjustment. Fiscal Year Ended March 31, 2025 Reported revenues for the fiscal year 2025 totaled $1,137.8 million, an increase of 1.1% versus revenues of $1,125.4 million in the prior fiscal year. Revenues increased 1.2% versus the prior fiscal year excluding the impact of foreign currency. The revenue growth for the fiscal year was led by strong growth in the Gastrointestinal category as well as the International OTC segment, partially offset by declines in the Cough & Cold category and the anticipated limited ability to supply strong demand for Clear Eyes. Reported net income for fiscal 2025 of $214.6 million compared to $209.3 million in the prior year. Reported fiscal 2025 diluted earnings per share was $4.29, compared to $4.17 in the prior year. On a non-GAAP adjusted basis, fiscal 2025 adjusted net income of $226.3 million and adjusted diluted earnings per share of $4.52 compared to adjusted net income and adjusted diluted earnings per share of $211.3 million and $4.21 in the prior year, respectively. The adjustments to net income in fiscal 2025 and fiscal 2024 each include a normalized tax rate adjustment to account for discrete items. Adjustments to net income in fiscal 2025 also included non-cash tradename impairments associated with non-strategic indefinite-lived and finite-lived intangible assets, driven by a deliberate shift in sales and branding toward other strategic brands within our portfolio, and an associated tax adjustment. Free Cash Flow and Balance Sheet The Company's net cash provided by operating activities for the fourth quarter of fiscal 2025 was $61.8 million compared to $66.9 million during the prior year comparable period. Non-GAAP free cash flow in the fourth quarter of fiscal 2025 of $58.4 million decreased compared to $63.8 million in the prior year fourth quarter. The Company's net cash provided by operating activities for the fiscal year 2025 was $251.5 million, compared to $248.9 million during the prior year. Non-GAAP free cash flow in the fiscal year of fiscal 2025 was $243.3 million, increasing 1.6% compared to $239.4 million in the prior year. In fiscal 2025, the Company repurchased approximately 0.7 million shares at a total investment of approximately $51.5 million. The Company's net debt position as of March 31, 2025 was approximately $0.9 billion, resulting in a covenant-defined leverage ratio of 2.4x. Segment Review North American OTC Healthcare: Segment revenues of $248.9 million for the fourth quarter fiscal 2025 increased 7.7% compared to the prior year comparable quarter's segment revenues of $231.1 million. The revenue increase reflected strong GI and Women’s Health category growth, led by growth of the Summer’s Eve, Dramamine, and Fleet brands. For the fiscal year 2025, reported revenues for the North American OTC Healthcare segment were $960.0 million, an increase versus $958.3 million in the prior year. The slightly higher revenues were driven by GI category sales growth, partially offset by lower sales in the Cough & Cold category as well as the limited ability to fully supply demand for Clear Eyes. International OTC Healthcare: Fiscal fourth quarter 2025 revenues of $47.6 million increased 3.7% compared to $45.9 million reported in the prior year comparable period, and increased 7.1% excluding the effects of foreign currency. The revenue performance was driven by broad-based growth in Australia and led by the Hydralyte® brand. For the fiscal year 2025, reported revenues for the International OTC Healthcare segment were $177.8 million, an increase of approximately 6.4% over the prior year revenues of $167.1 million. The revenue growth was led by strong growth for the Hydralyte brand. Fiscal 2026 Initial Outlook Ron Lombardi, Chief Executive Officer, stated, “For fiscal 2026, we anticipate achieving organic revenue of approximately 2% and EPS growth of $4.72 to $4.82, equating to earnings growth of mid-to high-single digits. We are focused on leveraging our unique business attributes and using our proven strategies to help navigate the challenging and volatile macro operating environment, where we currently anticipate an approximate $15 million headwind related to the inflationary impacts of enacted tariffs to date. We plan to leverage our leading portfolio, diverse supply chain, and agile operating model to manage and mitigate these inflationary costs as they arise to achieve our fiscal 2026 earnings outlook.” “Execution of our proven strategy delivered a solid and steady performance in fiscal 2025. We believe our commitment to focused execution, a strong balance sheet, and the attributes of our diverse portfolio of needs-based products leaves us well positioned to continue generating consistent financial results and cash flow in this volatile backdrop, which should generate superior shareholder value creation,” Mr. Lombardi concluded. Initial Fiscal 2026 OutlookRevenue$1,140 to $1,155 millionOrganic Revenue GrowthApproximately 1% to 2%Diluted E.P.S.$4.70 to $4.82Free Cash Flow$245 million or more Fiscal Year End 2025 Conference Call, Accompanying Slide Presentation and Replay The Company will host a conference call to review its fourth quarter and fiscal 2025 results today, May 8, 2025 at 8:30 a.m. ET. The Company provides a live Internet webcast, a slide presentation to accompany the call, as well as an archived replay, all of which can be accessed from the Investor Relations page of the Company's website at http://www.prestigeconsumerhealthcare.com/. To participate in the conference call via phone, participants may register for the call here to receive dial-in details and a unique pin. While not required, it is recommended to join 10 minutes prior to the event start. The slide presentation can be accessed from the Investor Relations page of the Company’s website by clicking on Webcasts and Presentations. A conference call replay will be available for approximately one week following completion of the live call and can be accessed on the Company’s Investor Relations page. Non-GAAP and Other Financial Information In addition to financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information in this release to aid investors in understanding the Company's performance. Each non-GAAP financial measure is defined and reconciled to its most closely related GAAP financial measure in the “About Non-GAAP Financial Measures” section at the end of this earnings release. Note Regarding Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "guidance," "outlook," "may," "will," "would," “believe,” "expectation," "anticipate," “focus,” “plan,” “positioned,” or "continue" (or the negative or other derivatives of each of these terms) or similar terminology. The "forward-looking statements" include, without limitation, statements regarding the Company's future operating results including revenues, organic growth, diluted earnings per share, and free cash flow; the expected impact of tariffs and the Company’s ability to manage related inflationary challenges; and the Company’s ability to enhance shareholder value through its business strategy, diverse product portfolio, solid balance sheet, generation of free cash flow, and efficient capital allocation. These statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors, including the impact of business and economic conditions, including as a result of evolving U.S. and international tariffs, labor shortages, inflation and geopolitical instability, consumer trends, the impact of the Company’s advertising and marketing and new product development initiatives, customer inventory management initiatives, fluctuating foreign exchange rates, competitive pressures, and the ability of the Company’s manufacturing operations and third party manufacturers and logistics providers and suppliers to meet demand for its products and to avoid inflationary cost increases and disruption as a result of labor shortages. A discussion of other factors that could cause results to vary is included in the Company's Annual Report on Form 10-K for the year ended March 31, 2024 and other periodic reports filed with the Securities and Exchange Commission. About Prestige Consumer Healthcare Inc. Prestige Consumer Healthcare is a leading consumer healthcare products company with sales throughout the U.S. and Canada, Australia, and in certain other international markets. The Company’s diverse portfolio of brands include Monistat® and Summer’s Eve® women's health products, BC® and Goody's® pain relievers, Clear Eyes® and TheraTears® eye care products, DenTek® specialty oral care products, Dramamine® motion sickness treatments, Fleet® enemas and glycerin suppositories, Chloraseptic® and Luden's® sore throat treatments and drops, Compound W® wart treatments, Little Remedies® pediatric over-the-counter products, Boudreaux’s Butt Paste® diaper rash ointments, Nix® lice treatment, Debrox® earwax remover, Gaviscon® antacid in Canada, and Hydralyte® rehydration products and the Fess® line of nasal and sinus care products in Australia. Visit the Company's website at www.prestigeconsumerhealthcare.com Prestige Consumer Healthcare Inc.Consolidated Statement of Income (Loss) and Comprehensive Income (Loss)(Unaudited) Three Months Ended March 31, YearEnded March 31,(In thousands, except per share data) 2025 2024 2025 2024 Total Revenues 296,518 276,991 1,137,762 1,125,357 Cost of Sales Cost of sales excluding depreciation 124,318 123,014 494,416 492,786 Cost of sales depreciation 2,190 2,160 8,883 8,123 Cost of sales 126,508 125,174 503,299 500,909 Gross profit 170,010 151,817 634,463 624,448 Operating Expenses Advertising and marketing 37,004 37,516 155,723 153,315 General and administrative 27,050 26,465 108,209 106,152 Depreciation and amortization 5,062 5,683 21,290 22,552 Tradename impairment 12,466 — 12,466 — Total operating expenses 81,582 69,664 297,688 282,019 Operating income 88,428 82,153 336,775 342,429 Other expense (income) Interest expense, net 10,759 15,260 47,632 67,160 Other expense (income), net 3,710 (429) 4,954 (756)Total other expense, net 14,469 14,831 52,586 66,404 Income before income taxes 73,959 67,322 284,189 276,025 Provision for income taxes 23,831 17,864 69,584 66,686 Net income $50,128 $49,458 $214,605 $209,339 Earnings per share: Basic $1.01 $0.99 $4.32 $4.21 Diluted $1.00 $0.98 $4.29 $4.17 Weighted average shares outstanding: Basic 49,656 49,833 49,697 49,757 Diluted 50,064 50,310 50,080 50,178 Comprehensive income, net of tax: Currency translation adjustments 2,586 (5,975) (3,083) (2,940)Unrecognized net (loss) gain on pension plans (81) 9 (81) 9 Total other comprehensive income (loss) 2,505 (5,966) (3,164) (2,931)Comprehensive income $52,633 $43,492 $211,441 $206,408 Prestige Consumer Healthcare Inc.Consolidated Balance Sheet(Unaudited) (In thousands)March 31, 2025 2024 Assets Current assets Cash and cash equivalents$97,884 $46,469 Accounts receivable, net of allowance of $16,314 and $16,377, respectively 194,293 176,775 Inventories 147,709 138,717 Prepaid expenses and other current assets 8,442 13,082 Total current assets 448,328 375,043 Property, plant and equipment, net 74,548 76,507 Operating lease right-of-use assets 28,238 11,285 Finance lease right-of-use assets, net 25,056 1,541 Goodwill 527,425 527,733 Intangible assets, net 2,295,350 2,320,583 Other long-term assets 3,273 5,725 Total Assets$3,402,218 $3,318,417 Liabilities and Stockholders' Equity Current liabilities Accounts payable$18,925 $38,979 Accrued interest payable 15,703 15,763 Operating lease liabilities, current portion 6,047 4,658 Finance lease liabilities, current portion 2,490 1,494 Other accrued liabilities 63,458 56,154 Total current liabilities 106,623 117,048 Long-term debt, net 992,357 1,125,804 Deferred income tax liabilities 419,594 403,596 Long-term operating lease liabilities, net of current portion 22,732 7,528 Long-term finance lease liabilities, net of current portion 20,624 172 Other long-term liabilities 5,391 9,185 Total Liabilities 1,567,321 1,663,333 Stockholders' Equity Preferred stock - $0.01 par value Authorized - 5,000 shares Issued and outstanding - None — — Common stock - $0.01 par value Authorized - 250,000 shares Issued – 56,010 shares at March 31, 2025 and 55,501 shares at March 31, 2024 560 555 Additional paid-in capital 593,402 567,448 Treasury stock, at cost – 6,501 shares at March 31, 2025 and 5,680 at March 31, 2024 (277,208) (219,621)Accumulated other comprehensive loss, net of tax (37,659) (34,495)Retained earnings 1,555,802 1,341,197 Total Stockholders' Equity 1,834,897 1,655,084 Total Liabilities and Stockholders' Equity$3,402,218 $3,318,417 Prestige Consumer Healthcare Inc.Consolidated Statement of Cash Flows(Unaudited) Year Ended March 31,(In thousands) 2025 2024 Operating Activities Net income$214,605 $209,339 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 30,173 30,675 Loss on sale or disposal of property and equipment 234 274 Deferred and other income taxes 14,409 23,070 Amortization of debt origination costs 1,754 5,240 Stock-based compensation costs 11,157 14,010 Non-cash operating lease cost 7,247 6,149 Impairment loss 12,466 — Other 1,411 — Changes in operating assets and liabilities, net of effects from acquisition: Accounts receivable (16,327) (6,322)Inventories (9,314) 24,439 Prepaid expenses and other current assets 4,655 (8,214)Accounts payable (19,411) (24,971)Accrued liabilities 6,984 (16,217)Operating lease liabilities (7,630) (7,134)Other (898) (1,412)Net cash provided by operating activities 251,515 248,926 Investing Activities Purchases of property, plant and equipment (8,224) (9,550)Acquisitions and other (9,228) (10,561)Net cash used in investing activities (17,452) (20,111) Financing Activities Term Loan repayments (135,000) (225,000)Payment of debt costs — (769)Payments of finance leases (4,536) (2,827)Proceeds from exercise of stock options 14,802 18,089 Fair value of shares surrendered as payment of tax withholding (5,832) (5,508)Repurchase of common stock (51,509) (25,000)Net cash used in financing activities (182,075) (241,015) Effects of exchange rate changes on cash and cash equivalents (573) 180 Increase (decrease) in cash and cash equivalents 51,415 (12,020)Cash and cash equivalents - beginning of year 46,469 58,489 Cash and cash equivalents - end of year$97,884 $46,469 Interest paid$47,804 $63,248 Income taxes paid$52,117 $59,637 Prestige Consumer Healthcare Inc.Consolidated Statement of IncomeBusiness Segments(Unaudited) Three Months Ended March 31, 2025(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$248,949 $47,569 $296,518Cost of sales 107,463 19,045 126,508Gross profit 141,486 28,524 170,010Advertising and marketing 29,794 7,210 37,004Contribution margin$111,692 $21,314 133,006Other operating expenses** 44,578Operating income $88,428 *Intersegment revenues of $1.4 million were eliminated from the North American OTC Healthcare segment.**Other operating expenses for the three months ended March 31, 2025 includes a tradename impairment charge of $12.5 million. Year Ended March 31, 2025(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$960,010 $177,752 $1,137,762Cost of sales 428,871 74,428 503,299Gross profit 531,139 103,324 634,463Advertising and marketing 129,431 26,292 155,723Contribution margin$401,708 $77,032 478,740Other operating expenses** 141,965Operating income $336,775 *Intersegment revenues of $3.9 million were eliminated from the North American OTC Healthcare segment.**Other operating expenses for the year ended March 31, 2025 includes a tradename impairment charge of $12.5 million. Three Months Ended March 31, 2024(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$231,129 $45,862 $276,991Cost of sales 105,729 19,445 125,174Gross profit 125,400 26,417 151,817Advertising and marketing 30,787 6,729 37,516Contribution margin$94,613 $19,688 114,301Other operating expenses 32,148Operating loss $82,153 *Intersegment revenues of $1.2 million were eliminated from the North American OTC Healthcare segment. Year Ended March 31, 2024(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$958,260 $167,097 $1,125,357Cost of sales 429,361 71,548 500,909Gross profit 528,899 95,549 624,448Advertising and marketing 131,494 21,821 153,315Contribution margin$397,405 $73,728 471,133Other operating expenses 128,704Operating loss $342,429 * Intersegment revenues of $3.7 million were eliminated from the North American OTC Healthcare segment. About Non-GAAP Financial Measures In addition to financial results reported in accordance with GAAP, we disclose certain Non-GAAP financial measures ("NGFMs"), including, but not limited to, Non-GAAP Organic Revenues, Non-GAAP Organic Revenue Change Percentage, Non-GAAP EBITDA, Non-GAAP EBITDA Margin, Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted EBITDA Margin, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted Diluted EPS, Non-GAAP Free Cash Flow, and Net Debt. We use these NGFMs internally, along with GAAP information, in evaluating our operating performance and in making financial and operational decisions. We believe that the presentation of these NGFMs provides investors with greater transparency, and provides a more complete understanding of our business than could be obtained absent these disclosures, because the supplemental data relating to our financial condition and results of operations provides additional ways to view our operation when considered with both our GAAP results and the reconciliations below. In addition, we believe that the presentation of each of these NGFMs is useful to investors for period-to-period comparisons of results in assessing shareholder value, and we use these NGFMs internally to evaluate the performance of our personnel and also to evaluate our operating performance and compare our performance to that of our competitors. These NGFMs are not in accordance with GAAP, should not be considered as a measure of profitability or liquidity, and may not be directly comparable to similarly titled NGFMs reported by other companies. These NGFMs have limitations and they should not be considered in isolation from or as an alternative to their most closely related GAAP measures reconciled below. Investors should not rely on any single financial measure when evaluating our business. We recommend investors review the GAAP financial measures included in this earnings release. When viewed in conjunction with our GAAP results and the reconciliations below, we believe these NGFMs provide greater transparency and a more complete understanding of factors affecting our business than GAAP measures alone. NGFMs Defined We define our NGFMs presented herein as follows: Non-GAAP Organic Revenues: GAAP Total Revenues excluding impact of foreign currency exchange rates in the periods presented.Non-GAAP Organic Revenue Change Percentage: Calculated as the change in Non-GAAP Organic Revenues from prior year divided by prior year Non-GAAP Organic Revenues.Non-GAAP EBITDA: GAAP Net Income before interest expense, net, provision for income taxes, and depreciation and amortization.Non-GAAP EBITDA Margin: Calculated as Non-GAAP EBITDA divided by GAAP Total Revenues.Non-GAAP Adjusted EBITDA: Non-GAAP EBITDA less tradename impairment.Non-GAAP Adjusted EBITDA Margin: Calculated as Non-GAAP Adjusted EBITDA divided by GAAP Total Revenues.Non-GAAP Adjusted Net Income: GAAP Net Income before tradename impairment, applicable tax impact associated with this item, and normalized tax rate adjustment.Non-GAAP Adjusted Diluted EPS: Calculated as Non-GAAP Adjusted Net Income, divided by the diluted weighted average number of shares outstanding during the period.Non-GAAP Free Cash Flow: Calculated as GAAP Net cash provided by operating activities less cash paid for capital expenditures.Net Debt: Calculated as total principal amount of debt outstanding ($1,000,000 at March 31, 2025 and $1,135,000 at March 31, 2024) less cash and cash equivalents ($97,884 at March 31, 2025 and $46,469 at March 31, 2024). Amounts in thousands. The following tables set forth the reconciliations of each of our NGFMs to their most directly comparable financial measures presented in accordance with GAAP. Reconciliation of GAAP Total Revenues to Non-GAAP Organic Revenues and related Non-GAAP Organic Revenue Change percentage: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Total Revenues$296,518 $276,991 $1,137,762 $1,125,357 Revenue Change 7.0% 1.1% Adjustments: Impact of foreign currency exchange rates — (2,262) — (1,482)Total adjustments — (2,262) — (1,482)Non-GAAP Organic Revenues$296,518 $274,729 $1,137,762 $1,123,875 Non-GAAP Organic Revenue Change 7.9% 1.2% Reconciliation of GAAP Net Income to Non-GAAP EBITDA and related Non-GAAP EBITDA Margin, Non-GAAP Adjusted EBITDA and related Non-GAAP Adjusted EBITDA Margin: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Net Income$50,128 $49,458 $214,605 $209,339 Interest expense, net 10,759 15,260 47,632 67,160 Provision for income taxes 23,831 17,864 69,584 66,686 Depreciation and amortization 7,252 7,843 30,173 30,675 Non-GAAP EBITDA 91,970 90,425 361,994 373,860 Non-GAAP EBITDA Margin 31.0% 32.6% 31.8% 33.2% Adjustments: Tradename impairment 12,466 — 12,466 — Total adjustments 12,466 — 12,466 — Non-GAAP Adjusted EBITDA$104,436 $90,425 $374,460 $373,860 Non-GAAP Adjusted EBITDA Margin 35.2% 32.6% 32.9% 33.2% Reconciliation of GAAP Net Income and GAAP Diluted Earnings Per Share to Non-GAAP Adjusted Net Income and related Non-GAAP Adjusted Diluted Earnings Per Share: Three Months Ended March 31, Year Ended March 31, 2025 2025 Adjusted EPS 20242024 Adjusted EPS 2025 2025 Adjusted EPS 20242024 Adjusted EPS(In thousands, except per share data) GAAP Net Income andDiluted EPS$50,128 $1.00 $49,458$0.98 $214,605 $4.29 $209,339$4.17Adjustments: Tradename impairment 12,466 0.25 — — 12,466 0.25 — —Tax impact of adjustment(1) (2,961) (0.06) — — (2,961) (0.06) — —Normalized tax rate adjustment(2) 6,266 0.13 1,983 0.04 2,236 0.04 1,983 0.04Total adjustments 15,771 0.32 1,983 0.04 11,741 0.23 1,983 0.04Non-GAAP Adjusted Net Income and Adjusted Diluted EPS$65,899 $1.32 $51,441$1.02 $226,346 $4.52 $211,322$4.21 (1) Income tax effect of above adjustment using the normalized tax rate.(2) Income tax adjustment to adjust for discrete income tax items. Note: Amounts may not add due to rounding. Reconciliation of GAAP Net Income to Non-GAAP Free Cash Flow: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Net Income$50,128 $49,458 $214,605 $209,339 Adjustments: Adjustments to reconcile net income to net cash provided by operating activities as shown in the Statement of Cash Flows 33,507 22,960 78,851 79,418 Changes in operating assets and liabilities as shown in the Statement of Cash Flows (21,787) (5,511) (41,941) (39,831)Total adjustments 11,720 17,449 36,910 39,587 GAAP Net cash provided by operating activities 61,848 66,907 251,515 248,926 Purchases of property and equipment (3,479) (3,143) (8,224) (9,550)Non-GAAP Free Cash Flow$58,369 $63,764 $243,291 $239,376 Outlook for Fiscal Year 2026: Reconciliation of Projected GAAP Net cash provided by operating activities to Projected Non-GAAP Free Cash Flow: (In millions) Projected FY'26 GAAP Net cash provided by operating activities$255 Additions to property and equipment for cash (10)Projected FY'26 Non-GAAP Free Cash Flow$245 Investor Relations ContactPhil Terpolilli, CFA, 914-524-6819irinquiries@prestigebrands.com
Dentsply Sirona Reports First Quarter 2025 Results - ForexTV
Net sales of $879 million decreased (7.7%), organic sales decreased (4.4%) including a (4.0%) Byte sales impactGAAP gross margin of 53.0%, GAAP net income of $20 million or $0.10 per shareAdjusted gross margin of 56.3%, adjusted EBITDA margin of 19.0%, adjusted EPS of $0.43Maintaining FY25 outlook for organic sales and adjusted EPS; increasing reported sales due to F/X changes CHARLOTTE, N.C., May 08, 2025 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. ("Dentsply Sirona" or the "Company") (Nasdaq: XRAY) today announced its financial results for the first quarter of 2025. First quarter net sales of $879 million decreased (7.7%) (organic sales decreased (4.4%)) compared to the first quarter of 2024. Foreign currency changes negatively impacted first quarter 2025 net sales by approximately ($30) million. Net income was $20 million, or $0.10 per share, compared to a net income of $18 million, or $0.09 per share in the first quarter of 2024. Adjusted earnings per diluted share were $0.43, compared to $0.42 in the first quarter of 2024. A reconciliation of Non-GAAP measures (including organic sales, adjusted EBITDA and margin, adjusted EPS, adjusted free cash flow conversion, and segment adjusted operating income) to GAAP measures is provided below. "In the first quarter, organic sales were roughly flat excluding the Byte sales impact, with growth in two of our three regions. Adjusted EBITDA margin expanded which primarily reflects the benefits from our transformational initiatives and internal financial discipline. We are delivering progress through customer-centric innovation, customer experience improvements, and operational efficiency, while operating in an increasingly uncertain macroeconomic environment," said Simon Campion, President and Chief Executive Officer. "Looking forward, we are maintaining our outlook for organic sales and adjusted EPS and will continue to focus on improving what is within our control to deliver sustainable long-term performance." Q1 25 Summary Results (GAAP) (in millions, except per share amount and percentages) Q1 25Q1 24YoY Net Sales $879$953(7.7%)Gross Profit $466$506(7.9%)Gross Margin 53.0%53.1% Net Income Attributable to Dentsply Sirona $20$18NMDiluted Earnings Per Share $0.10$0.09NM Q1 25 Summary Results (Non-GAAP)[1] (in millions, except per share amount and percentages) Q1 25Q1 24YoY Net Sales $879$953(7.7%)Organic Sales Growth % (4.4%)Adjusted Gross Profit $495$540(8.3%)Adjusted Gross Margin 56.3%56.6% Adjusted EBITDA $168$1604.2%Adjusted EBITDA Margin 19.0%16.8% Adjusted EPS $0.43$0.423.7% NM - not meaningfulPercentages are based on actual values and may not reconcile due to rounding.[1] Organic sales growth, adjusted gross profit, adjusted EBITDA, and adjusted EPS are Non-GAAP financial measures which exclude certain items. Please refer to "Non-GAAP Financial Measures" below for a description of these measures and to the tables at the end of this release for a reconciliation between GAAP and Non-GAAP measures. Q1 25 Segment Results Net Sales Growth % Organic Sales Growth % Connected Technology Solutions (4.7%) (0.5%)Essential Dental Solutions (2.7%) 0.4%Orthodontic and Implant Solutions (20.0%) (17.7%)Wellspect Healthcare 3.4% 8.0%Total (7.7%) (4.4%) Q1 25 Geographic Results Net Sales Growth % Organic Sales Growth % United States (15.2%) (14.9%)Europe (3.4%) 1.1%Rest of World (2.8%) 3.1%Total (7.7%) (4.4%) Cash Flow and Liquidity Operating cash flow in the first quarter of 2025 was $7 million, compared to $25 million in the first quarter of 2024, primarily due to the unfavorable timing of collections on accounts receivable and a build of inventory during the quarter. In the first quarter of 2025, the Company paid $32 million in dividends. The Company had $398 million of cash and cash equivalents as of March 31, 2025. 2025 Outlook The Company is maintaining its 2025 outlook for organic sales in the range of down (4.0%) to (2.0%), and adjusted EPS in the range of $1.80 to $2.00. The Company is increasing its expected reported sales to a new range of $3.60 billion to $3.70 billion due to changes in foreign exchange rates. This outlook reflects the current state of tariffs and trade policy. Other 2025 outlook assumptions are included in the first quarter 2025 earnings presentation posted on the Investors section of the Dentsply Sirona website at https://investor.dentsplysirona.com. The Company does not provide forward-looking estimates on a GAAP basis as certain information, which may include, but is not limited to, restructuring charges, transformation-related costs, impairment charges, certain tax adjustments, and other significant items, is not available without unreasonable effort and cannot be reasonably estimated. The exact amounts of these charges or credits are not currently determinable but may be significant. Conference Call/Webcast InformationDentsply Sirona’s management team will host an investor conference call and live webcast on May 8th, 2025, at 8:30 am ET. A live webcast of the investor conference call and a presentation related to the call will be available on the Investors section of the Company’s website at https://investor.dentsplysirona.com. For those planning to participate on the call, please register at https://register-conf.media-server.com/register/BIb73584ce1e6f4d81b57af1bfbeec6816. A webcast replay of the conference call will be available on the Investors section of the Company’s website following the call. About Dentsply SironaDentsply Sirona is the world’s largest diversified manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world-class brands. Dentsply Sirona’s innovative products provide, high-quality, effective and connected solutions to advance patient care and deliver better and safer dental care. Dentsply Sirona’s headquarters is located in Charlotte, North Carolina. The Company’s shares are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products. Contact Information:Investors:Andrea DaleyVice President, Investor Relations+1-704-591-8631InvestorRelations@dentsplysirona.com Press:Marion Par-WeixlbergerVice President, Public Relations & Corporate Communications+43 676 848414588marion.par-weixlberger@dentsplysirona.com Forward-Looking Statements and Associated Risks All statements in this Press Release that do not directly and exclusively relate to historical facts constitute "forward-looking statements." Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control, including those described in Part I, Item 1A, "Risk Factors" of the Company's most recent Annual Report on Form 10-K, and any updating information or other factors which may be described in the Company’s other filings with the Securities and Exchange Commission (the "SEC"). No assurance can be given that any expectation, belief, goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this Press Release or to reflect the occurrence of unanticipated events. Investors should understand it is not possible to predict or identify all such factors or risks. As such, you should not consider the risks identified in the Company’s SEC filings to be a complete discussion of all potential risks or uncertainties associated with an investment in the Company. DENTSPLY SIRONA INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(in millions, except per share amounts)(unaudited) Three Months Ended March 31, 2025 2024 Net sales$879 $953 Cost of products sold 413 447 Gross profit 466 506 Selling, general, and administrative expenses 358 415 Research and development expenses 36 42 Intangible asset impairments — 6 Restructuring and other costs 9 1 Operating income 63 42 Other income and expenses: Interest expense, net 19 18 Other (income) expense, net — (7) Income before income taxes 44 31 Provision for income taxes 25 14 Net income 19 17 Less: Net loss attributable to noncontrolling interest (1) (1) Net income attributable to Dentsply Sirona$20 $18 Earnings per common share attributable to Dentsply Sirona: Basic$0.10 $0.09 Diluted$0.10 $0.09 Weighted average common shares outstanding: Basic 199.1 207.4 Diluted 199.8 208.5 DENTSPLY SIRONA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(in millions, except share and per share amounts)(unaudited) March 31, 2025 December 31, 2024 Assets Current Assets: Cash and cash equivalents$398 $272Accounts and notes receivable-trade, net 604 556Inventories, net 612 564Prepaid expenses and other current assets 364 354Total Current Assets 1,978 1,746 Property, plant, and equipment, net 791 766Operating lease right-of-use assets, net 133 136Identifiable intangible assets, net 1,212 1,207Goodwill 1,632 1,597Other noncurrent assets 304 301Total Assets$6,050 $5,753 Liabilities and Equity Current Liabilities: Accounts payable$276 $241Accrued liabilities 738 754Income taxes payable 37 45Notes payable and current portion of long-term debt 742 549Total Current Liabilities 1,793 1,589 Long-term debt 1,593 1,586Operating lease liabilities 88 91Deferred income taxes 134 129Other noncurrent liabilities 432 415Total Liabilities 4,040 3,810 Total Equity 2,010 1,943 Total Liabilities and Equity$6,050 $5,753 DENTSPLY SIRONA INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(in millions)(unaudited) Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net income$19 $17 Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation 34 32 Amortization of intangible assets 45 54 Indefinite-lived intangible asset impairment — 6 Deferred income taxes 1 (9)Stock-based compensation expense 10 11 Other non-cash expense 9 19 Changes in operating assets and liabilities: Accounts and notes receivable-trade, net (31) 27 Inventories, net (26) (5)Prepaid expenses and other current assets (1) (28)Other noncurrent assets 4 (6)Accounts payable 14 (28)Accrued liabilities (44) (50)Income taxes (12) (2)Other noncurrent liabilities (15) (13)Net cash provided by operating activities 7 25 Cash flows from investing activities: Capital expenditures (19) (34)Cash received on derivative contracts 1 — Cash paid on derivative contracts — (9)Proceeds from sale of property, plant, and equipment 1 — Net cash used in investing activities (17) (43) Cash flows from financing activities: (Repayments) proceeds on short-term borrowings, net (272) 23 Proceeds from 364-day bridge loan 435 — Cash dividends paid (32) (29)Repayments on long-term borrowings (2) (3)Cash paid for deferred financing costs (3) — Other financing activities, net (3) (5)Net cash provided by (used in) financing activities 123 (14)Effect of exchange rate changes on cash and cash equivalents 13 (11)Net increase (decrease) in cash and cash equivalents 126 (43)Cash and cash equivalents at beginning of period 272 334 Cash and cash equivalents at end of period$398 $291 Supplemental disclosures of cash flow information: Interest paid, net of amounts capitalized$13 $15 Non-cash investing activities: Property, plant and equipment in accounts payable at end of period$22 $24 Exchange of inventory for naming and other rights$14 $— Non-GAAP Financial Measures In addition to results determined in accordance with U.S. generally accepted accounting principles ("US GAAP"), the Company provides certain measures in this press release, described below, which are not calculated in accordance with US GAAP and therefore represent Non-GAAP measures. These Non-GAAP measures are used by the Company to measure its performance and may differ from those used by other companies. These Non-GAAP measures should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with US GAAP. Management believes that these Non-GAAP measures are helpful as they provide a measure of the results of operations, and are frequently used by investors and analysts to evaluate the Company’s performance exclusive of certain items that impact the comparability of results from period to period, and which may not be indicative of past or future performance of the Company. Organic Sales The Company defines "organic sales" as the reported net sales adjusted for: (1) net sales from acquired businesses recorded prior to the first anniversary of the acquisition; (2) net sales attributable to disposed businesses in both the current and prior year periods; and (3) the impact of foreign currency changes, which is calculated by translating current period net sales using the comparable prior period's foreign currency exchange rates. Adjusted Operating Income and Margin Adjusted operating income is computed by excluding the following items from operating income (loss) as reported in accordance with US GAAP: (1) Business combination-related costs and fair value adjustments. These adjustments include costs related to consummating and integrating acquired businesses, as well as net gains and losses related to disposed businesses. In addition, this category includes the post-acquisition roll-off of fair value adjustments recorded related to business combinations, except for amortization expense of purchased intangible assets noted below. Although the Company is regularly engaged in activities to find and act on opportunities for strategic growth and enhancement of product offerings, the costs associated with these activities may vary significantly between periods based on the timing, size and complexity of acquisitions and as such may not be indicative of past and future performance of the Company. (2) Restructuring-related charges and other costs. These adjustments include costs related to the implementation of restructuring initiatives, including but not limited to, severance costs, facility closure costs, and lease and contract termination costs, as well as related professional service costs associated with these restructuring initiatives and global transformation activity. The Company is continually seeking to take actions that could enhance its efficiency; consequently, restructuring charges may recur but are subject to significant fluctuations from period to period due to the varying levels of restructuring activity, and as such may not be indicative of past and future performance of the Company. Other costs include gains and losses on the sale of property, legal settlements, executive separation costs, write-offs of inventory as a result of product rationalization, and changes in accounting principles recorded within the period. This category also includes costs related to investigations and associated legal cases and remediation activities, which primarily include legal, accounting and other professional service fees, as well as turnover and other employee-related costs. (3) Goodwill and intangible asset impairments. These adjustments include charges related to goodwill and intangible asset impairments. (4) Amortization of purchased intangible assets. This adjustment excludes the periodic amortization expense related to purchased intangible assets, which are recorded at fair value. Although these costs contribute to revenue generation and will recur in future periods, their amounts are significantly impacted by the timing and size of acquisitions, and as such may not be indicative of the future performance of the Company. (5) Fair value and credit risk adjustments. These adjustments include the non-cash mark-to-market changes in fair value associated with pension assets and obligations, the credit risk component of hedging instruments, and equity-method investments. Although these adjustments are recurring in nature, they are subject to significant fluctuations from period to period due to changes in the underlying assumptions and market conditions. The non-service component of pension expense is a recurring item, however it is subject to significant fluctuations from period to period due to changes in actuarial assumptions, interest rates, plan changes, settlements, curtailments, and other changes in facts and circumstances. As such, these items may not be indicative of past and future performance of the Company. Adjusted operating margin is calculated by dividing adjusted operating income by net sales. Adjusted Gross Profit and Margin Adjusted gross profit is computed by excluding from gross profit the impact of any of the above adjustments that affect either sales or cost of sales. Adjusted gross margin is calculated by dividing adjusted gross profit by net sales. Adjusted Net Income (Loss) Adjusted net income (loss) consists of net income (loss) as reported in accordance with US GAAP, adjusted to exclude the items identified above, as well as the related income tax impacts of those items. The income tax effect of each pre-tax adjustment was determined based on the tax rate of the jurisdiction in which the related pre-tax adjustment was recorded. Additionally, net income is adjusted for other tax-related adjustments such as discrete or significant adjustments to valuation allowances and other uncertain tax positions, final settlement of income tax audits, discrete tax items resulting from the implementation of restructuring initiatives, the windfall or shortfall relating to exercise of employee stock-based compensation, any difference between the interim and annual effective tax rate, and adjustments relating to prior periods. Management believes that these adjustments for certain tax-related matters are helpful to normalize the tax effects of certain discrete or significant items that are irregular or infrequent in timing and may not be indicative of past or future performance of the Company. Adjusted EBITDA and Margin In addition to the adjustments described above in arriving at adjusted net income, adjusted EBITDA is computed by further excluding any remaining interest expense, net, income tax expense, depreciation and amortization. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by net sales. Adjusted Earnings (Loss) Per Diluted Share Adjusted earnings (loss) per diluted share (adjusted EPS) is computed by dividing adjusted earnings (loss) attributable to Dentsply Sirona stockholders by the diluted weighted average number of common shares outstanding. Adjusted Free Cash Flow and Conversion The Company defines adjusted free cash flow as net cash provided by operating activities minus capital expenditures during the same period, and adjusted free cash flow conversion is defined as adjusted free cash flow divided by adjusted net income (loss). Management believes this Non-GAAP measure is important for use in evaluating the Company’s financial performance as it measures our ability to efficiently generate cash from our business operations relative to earnings. It should be considered in addition to, rather than as a substitute for, net income (loss) as a measure of our performance or net cash provided by operating activities as a measure of our liquidity. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) A reconciliation of reported net sales to organic sales by geographic region is as follows: Three Months Ended March 31, 2025 Q1 2025 Change Three Months Ended March 31, 2024(in millions, except percentages) U.S.EuropeROWTotal U.S.EuropeROWTotal U.S.EuropeROWTotal Net sales $302$362$215$879 (15.2%)(3.4%)(2.8%)(7.7%) $356$376$221$953Foreign exchange impact (0.3%)(4.5%)(5.9%)(3.3%) Organic sales (14.9%)1.1%3.1%(4.4%) Percentages are based on actual values and may not reconcile due to rounding. A reconciliation of reported net sales to organic sales by segment is as follows: Three Months Ended March 31, 2025 Q1 2025 Change Three Months Ended March 31, 2024(in millions, except percentages) Connected Technology SolutionsEssential Dental SolutionsOrthodontic and Implant SolutionsWellspect HealthcareTotal Connected Technology SolutionsEssential Dental SolutionsOrthodontic and Implant SolutionsWellspect HealthcareTotal Connected Technology SolutionsEssential Dental SolutionsOrthodontic and Implant SolutionsWellspect HealthcareTotal Net sales $235$353$217$74$879 (4.7%)(2.7%)(20.0%)3.4%(7.7%) $247$364$271$71$953Foreign exchange impact (4.2%)(3.1%)(2.3%)(4.6%)(3.3%) Organic sales (0.5%)0.4%(17.7%)8.0%(4.4%) Percentages are based on actual values and may not reconcile due to rounding. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) The Company’s segment adjusted operating income for the three months ended March 31, 2025 and 2024 was as follows: Three Months Ended March 31,(in millions) 2025 2024 Connected Technology Solutions $7 $2 Essential Dental Solutions 135 115 Orthodontic and Implant Solutions 37 42 Wellspect Healthcare 26 23 Segment adjusted operating income 205 182 Reconciling items expense (income): All other (a) 87 79 Intangible asset impairments — 6 Restructuring and other costs 9 1 Interest expense, net 19 18 Other (income) expense, net — (7)Amortization of intangible assets 45 54 Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations 1 — Income before income taxes $44 $31 (a) Includes unassigned corporate headquarters costs. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) For the three months ended March 31, 2025, a reconciliation of selected items as reported in the Condensed Consolidated Statements of Operations to adjusted Non-GAAP items is as follows: (in millions, except percentages and per share data) Gross Profit Operatingincome Net IncomeAttributable toDentsply Sirona(a) Diluted EPSGAAP $466 $63 $20 $0.10Non-GAAP Adjustments: Amortization of Purchased Intangible Assets 28 45 33 0.16Restructuring-Related Charges and Other Costs — 25 19 0.10Business Combination-Related Costs and Fair Value Adjustments 1 1 1 —Income Tax-Related Adjustments — — 14 0.07Adjusted Non-GAAP $495 $134 $87 $0.43GAAP Margin 53.0% 7.1% Adjusted Non-GAAP Margin 56.3% 15.1% Weighted average common shares outstanding used in calculating diluted GAAP net loss per common share 199.8Weighted average common shares outstanding used in calculating diluted Non-GAAP net income per common share 199.8(a) The tax expense on the Non-GAAP adjustments totals $4 million which is inclusive of the $14 million income tax-related adjustment above. Percentages are based on actual values and may not reconcile due to rounding. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) For the three months ended March 31, 2024, a reconciliation of selected items as reported in the Condensed Consolidated Statements of Operations to adjusted Non-GAAP items is as follows: (in millions, except percentages and per share data) Gross Profit Operatingincome Net IncomeAttributable toDentsply Sirona(a) Diluted EPSGAAP $506 $42 $18 $0.09Non-GAAP Adjustments: Amortization of Purchased Intangible Assets 31 54 40 0.19Restructuring-Related Charges and Other Costs 3 17 13 0.06Goodwill and Intangible Asset Impairments — 6 4 0.02Business Combination-Related Costs and Fair Value Adjustments — 1 1 —Income Tax-Related Adjustments — — 11 0.06Adjusted Non-GAAP $540 $120 $87 $0.42GAAP Margin 53.1% 4.4% Adjusted Non-GAAP Margin 56.6% 12.6% Weighted average common shares outstanding used in calculating diluted GAAP net loss per common share 208.5Weighted average common shares outstanding used in calculating diluted Non-GAAP net income per common share 208.5(a) The tax expense on the Non-GAAP adjustments totals $9 million, which is inclusive of the $11 million income tax-related adjustment above. Percentages are based on actual values and may not reconcile due to rounding. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) A reconciliation of reported net income attributable to Dentsply Sirona to adjusted EBITDA and margin for the three months ended March 31, 2025 and 2024 is as follows: Three Months Ended March 31,(in millions, except percentages) 2025 2024 Net income attributable to Dentsply Sirona $20 $18 Interest expense, net 19 18 Income tax expense 25 14 Depreciation(1) 33 32 Amortization of purchased intangible assets 45 54 Restructuring-related charges and other costs 25 17 Goodwill and intangible asset impairments — 6 Business combination-related costs and fair value adjustments 1 1 Adjusted EBITDA $168 $160 Net sales $879 $953 Adjusted EBITDA margin 19.0% 16.8% (1) Excludes those depreciation-related amounts which were included as part of the business combination-related adjustments and Restructuring-related charges and other costs.Percentages are based on actual values and may not reconcile due to rounding. A reconciliation of adjusted free cash flow conversion for the three months ended March 31, 2025 and 2024 is as follows: Three Months Ended March 31,(in millions, except percentages) 2025 2024 Net cash provided by operating activities $7 $25 Capital expenditures (19) (34)Adjusted free cash flow $(12) $(9) Adjusted net income $87 $87 Adjusted free cash flow conversion (14%) (10%) Percentages are based on actual values and may not reconcile due to rounding.