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Benzinga
Benzinga
Business
Vandana Singh

Why Are Dentsply Sirona Shares Plummeting Today?

  • Dentsply Sirona Inc (NASDAQ:XRAY) appointed John Groetelaars, who serves on Dentsply Sirona's Board of Directors, as Interim Chief Executive Officer
  • He succeeds Don Casey, who has been terminated as CEO, and will cease to serve as a member of the Company's Board, effective immediately. 
  • The Board has initiated a search to identify the Company's next CEO.
  • Related: Dentsply Sirona's Q4 Falls Short Of Expectations, FY22 Sales Outlook Lags Street View.
  • The Company also appointed Barbara Bodem as Interim Chief Financial Officer, effective upon Jorge Gomez's previously announced departure on May 6, 2022. 
  • Ms. Bodem will join the Company on April 25.
  • Dentsply Sirona expects preliminary Q1 FY22 sales of approximately $965 million, down 1.4% Y/Y on an organic basis, versus the Wall Street estimate of $1.02 billion.
  • It expects an adjusted EPS of $0.48 - $0.52, compared to the consensus of $0.67.
  • The Company said that relative to last year, these results reflect weaker sales performance in the U.S., global supply chain challenges, and foreign exchange headwinds. 
  • Price Action: XRAY shares are down 13% at $42.40 during the market session on the last check Tuesday.
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