Envista reports Q2 adjusted EPS 11c, consensus 27c

Reports Q2 revenue $633.1M, consensus $646.92M. Paul Keel, Chief Executive Officer, stated, “Our performance in Q2 does not reflect the full capabilities of Envista. As such, we took important steps to begin repositioning Envista for improved performance in the future. We hired a permanent CFO as well as Presidents for our two largest businesses. We mitigated risks in critical parts of our Company. And we made much-needed growth investments in our highest-margin businesses. While these actions negatively impact near-term results, they are essential for longer-term value creation.” Keel continued, “Envista is fundamentally a good business with leading positions in attractive markets, strong operations, talented people, and a high-performance culture of continuous improvement. I’m encouraged by all we achieved together in my first three months and thank my twelve thousand colleagues around the world for their collaboration, care, and commitment.”