NYSE$NVST
Envista Holdings Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Envista's Q4 2023 earnings were reported, showing a decrease in net income due to a non-cash charge, while full-year results aligned with expectations, driven by strong performance in the Orthodontic business.
Envista reported Q4 2023 sales of $645.6 million, with a net loss of $217.4 million, including a $258.3 million non-cash charge. Adjusted net income was $49.7 million, and adjusted EBITDA was $100.5 million. The company's full-year results aligned with expectations, with the Orthodontic business outperforming, and Spark Aligner growing over 50%.
- Reported sales for Q4 2023 were $645.6 million, with core sales declining by 2.0%.
- Net loss for the quarter was $217.4 million, impacted by a $258.3 million non-cash charge related to goodwill and intangible asset impairment.
- Adjusted net income was $49.7 million, or $0.29 per diluted share, compared to $91.9 million, or $0.52 per diluted share, in the same period of 2022.
- Full year 2023 saw a modest decline in core growth, but the Orthodontic business outperformed, with Spark Aligner growing over 50%.
Headline financials
Revenue & EPS history
Envista · Revenue · Quarterly
$646M
Revenue by segment
Envista · $631M total across 2 segments · Q3 2023
- Specialty Products & Technologies$400M+1.0%63.3%
- Equipment & Consumables$232M-1.7%36.7%
Forward guidance
For the full year 2024, Envista expects core sales to grow low-single digits and to deliver adjusted EBITDA margins of between 16% - 17%. Margins are anticipated to accelerate through 2024.
Tailwinds
- Core sales expected to grow low-single digits.
- Adjusted EBITDA margins expected between 16% - 17%.
- Margin acceleration is anticipated throughout 2024.
- Guidance considers long-term investments.
- Focus on improving Spark profitability.
Headwinds
- Continued uncertainty in the macro environment.
- Guidance takes into account macro environment uncertainty.
- Do not provide forward-looking estimates on a GAAP basis as certain information is not available and cannot be reasonably estimated.
- Volatile macro backdrop in 2023.
- Focus on optimizing operating structure using the Envista Business System.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.1%
Avg return
Earnings day
+1.6%
Avg return
5 days after
-0.8%
Avg return
30 days after
48%
16 / 33 earnings
Positive
+17.8%
Q4 2025
Best reaction
-9.7%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.5% | -10.3% | -14.7% | |
| Q4 2025 | +17.8% | +22.5% | +8.7% | |
| Q3 2025 | -0.2% | +0.0% | +3.8% | |
| Q1 2025 | +3.8% | +3.1% | +11.8% | |
| Q4 2024 | +5.9% | +2.2% | -10.4% | |
| Q3 2024 | +11.6% | +13.3% | +18.6% | |
| Q2 2024 | +4.7% | +2.9% | +10.7% | |
| Q1 2024 | +0.7% | -3.2% | -1.6% | |
| Q4 2023 | -8.5% | -7.0% | -13.4% | |
| Q3 2023 | -8.7% | -8.3% | +2.7% | |
| Q2 2023 | +0.8% | +2.8% | -4.8% | |
| Q1 2023 | -6.4% | -7.1% | -12.0% | |
| Q4 2022 | -3.0% | -3.5% | -9.8% | |
| Q3 2022 | +2.8% | +3.4% | +4.0% | |
| Q2 2022 | +1.3% | +1.4% | -11.3% | |
| Q1 2022 | +7.5% | +5.4% | +6.2% | |
| Q4 2021 | +8.7% | +8.0% | +3.9% | |
| Q3 2021 | +5.4% | +6.1% | -3.9% | |
| Q2 2021 | -7.5% | -6.1% | +0.3% | |
| Q1 2021 | +2.1% | +3.1% | -4.1% | |
| Q4 2020 | +2.2% | +3.6% | +4.7% | |
| Q3 2020 | +7.8% | +9.9% | +20.4% | |
| Q2 2020 | -3.8% | +0.4% | +5.2% | |
| Q1 2019 | -9.7% | -8.9% | +10.7% | |
| Q1 2020 | -9.7% | -8.9% | +10.7% | |
| Q4 2019 | -6.5% | -8.1% | -19.8% | |
| Q4 2018 | -3.2% | +5.3% | -5.9% | |
| Q4 2017 | -3.2% | +5.3% | -5.9% | |
| Q3 2018 | -3.2% | +5.3% | -5.9% | |
| Q3 2019 | -3.2% | +5.3% | -5.9% | |
| Q2 2019 | -3.2% | +5.3% | -5.9% | |
| Q2 2018 | -3.2% | +5.3% | -5.9% | |
| Q1 2018 | -3.2% | +5.3% | -5.9% |
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