Q1 2025 Envista Holdings Corp Earnings Call Transcript
Key Points
- Envista Holdings Corp (NVST) delivered core growth of 0.2% and adjusted EBITDA margin around 13%, both in line with expectations.
- The company reported adjusted EPS of $0.24, slightly ahead of expectations.
- Progress was made on the $250 million share repurchase program announced previously.
- Growth was observed across most of the portfolio, including Consumables and Nobel Biocare, with improvements in customer service and Spark margins.
- Envista Holdings Corp (NVST) maintained its 2025 guidance of 1% to 3% core growth, approximately 14% adjusted EBITDA margins, and adjusted EPS of $0.95 to $1.05.
- Currency exchange rates negatively impacted sales year over year by about 140 basis points.
- The Specialty Products and Technology segment saw a decline of about 1 point.
- Adjusted gross margin decreased by 260 basis points versus the prior year, primarily due to foreign exchange rates.
- Free cash flow was an outflow of $5 million in Q1, attributed to the timing of incentive compensation and working capital.
- The global dental market remains stable but faces geopolitical uncertainties and deteriorating US consumer confidence indices.
Hello, my name is Madison, and I will be your conference call facilitator this afternoon. At this time, I would like to welcome everyone to Envista Holdings Corporation's first-quarter 2025 earnings results conference call. All lines have been placed on mute to prevent any background noise. (Operator Instructions)
And I will now turn the call over to Mr. Jim Gustafson, Vice President of Investor Relations at Envista Holdings. Mr. Gustafson, you may begin your conference call.
Good afternoon. Thanks for joining Envista's first-quarter 2025 earnings call. We appreciate your interest in our company. With me today are Paul Keel, our President and Chief Executive Officer; and Eric Hammes, our Chief Financial Officer. Before we begin, I want to point out that our earnings release, the slide presentation supplementing today's call, and reconciliations and other information required by SEC Regulation G relating to any non-GAAP financial measures provided during the call are all
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