Envista reports Q4 adjusted EPS 29c, consensus 34c

Reports Q4 revenue $645.6M, consensus $643.44M. CEO Amir Aghdaei stated, “Despite a volatile macro backdrop in 2023, the Envista team delivered full year results in line with our expectations. For the full year 2023, we saw a modest decline in core growth and delivered an adjusted EBITDA margin of 18.1%. Our Orthodontic business continues to outperform, growing double digits for the full year 2023, with Spark Aligner growing over 50%. We further delivered $223.6M of free cash flow for the full year, representing an increase of more than $100M over 2022. We are committed to our purpose of partnering with dental professionals to improve patients’ lives by digitizing, personalizing, and democratizing dental care. 2024 will be a transformational year for Envista as we focus on improving Spark profitability, accelerating our North American implant business, and optimizing our operating structure using the Envista Business System.”