Dentsply cuts annual profit outlook on weak demand By Reuters

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<p>(Reuters) – Dentsply Sirona lowered its full-year profit and revenue forecasts on Thursday due to weak demand for its dental equipment and consumable products, sending the company’s shares down 3% before the bell.</p>
<p>Demand for clear aligners and non-urgent procedures including orthodontic treatment initially recovered this year after a poor 2022 but since then demand, especially for higher-end restorative procedures and adult clear aligners, has waned due to economic uncertainties in some of its markets.</p>
<p>Pennsylvania-based Dentsply sells clear dental aligners under the brand names SureSmile and Byte.</p>
<p>The company now expects total fiscal 2023 revenue between $3.90 billion and $3.94 billion, compared with its previous forecast of $3.98 billion to $4.02 billion.</p>
<p>Dentsply reported third-quarter net sales of $947 million, compared with analysts’ estimates of $975 million, according to LSEG data.</p>
<p>On an adjusted basis, the company earned 49 cents per share, beating estimates of 48 cents.</p>
<p>Dentsply also lowered its adjusted profit outlook for the full year to between $1.80 per share and $1.85 per share, from its previous forecast of $1.92 to $2.02 per share.</p>
<p>“Dentsply is just the latest dental name to take a step backward due to worsening macro conditions, though it seems to be executing on its commercial initiatives despite these headwinds,” William Blair analyst Brandon Vazquez said.</p>
<p>Rival Align (NASDAQ:) Technology cut its annual sales forecast in October after missing third-quarter profit estimates. </p>
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