The maintained full-year guidance provides a floor for expectations, but the constant currency revenue decline and margin compression indicate the turnaround is still early. Watch for Q2 results to see if the restructuring plan gains traction; any downward guidance revision would be severe.
Price Chart
Executive Summary
Dentsply Sirona reported Q1 2026 adjusted EPS of $0.27, roughly in line with the $0.28 consensus (a slight miss), while revenue of $880M was flat YoY but constant currency sales fell 6.7%. GAAP results worsened to a net loss of $10M vs income of $20M last year, and adjusted EBITDA dropped 23% YoY. The company reiterated its full-year 2026 guidance, which tempers the negative read, but underlying trends remain weak with declining margins and ongoing restructuring charges.
Key Financial Metrics
Key Facts
- Adjusted EPS of $0.27 vs $0.28 consensus (miss of ~3.6%)
- Revenue of $880M, +0.1% YoY reported, but constant currency down 6.7%
- GAAP net loss of $10M vs net income of $20M in Q1 2025
- Adjusted EBITDA fell 22.8% to $129M, margin down 430bps to 14.7%
- Full-year 2026 outlook maintained: net sales $3.5B-$3.6B, adjusted EPS $1.40-$1.50
- Restructuring costs of $67M in Q1 2026 (vs $9M in Q1 2025) weighed on results
- Cash flow from operations improved to $40M vs $7M a year ago, but FCF remained negative at ($12M)
Financial Impact
Adjusted EPS miss of ~$0.01 vs consensus, but the YoY decline in adjusted EPS from $0.44 to $0.27 is significant, representing a 39% drop.
Risk Factors
- Continued deterioration in constant currency sales, particularly in Americas and EMEA
- Restructuring execution risk and potential for further impairments
- High debt levels ($2.2B net debt) could pressure cash flows if operating performance doesn't improve
- Competitive pressure in dental equipment and implant solutions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000818479-26-000147 |
| Document: dentsply8kq12026ex992.htm | 0000818479-26-000147 |
| Document: xray-20260505.htm | 0000818479-26-000147 |
| Document: 0000818479-26-000147-index-headers.html | 0000818479-26-000147 |
| Document: 0000818479-26-000147-index.html | 0000818479-26-000147 |
| Document: 0000818479-26-000147.txt | 0000818479-26-000147 |
| 8-K Data (Synthetic) | 0000818479-26-000147 |
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Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Institutional Cluster | $10.50 $9.38 | ▼ −10.71% | ▼ −10.22% | $8.63 (−17.86%) |
Jun 16, 2026 15w ago | Insider Cluster | $10.03 $10.52 | ▲ +4.89% | ▲ +5.93% | $8.63 (−14.01%) |
Jun 15, 2026 15w ago | Insider Cluster | $10.45 $10.20 | ▼ −2.39% | ▼ −0.16% | $8.63 (−17.46%) |
Jun 11, 2026 16w ago | 8-K | $10.14 $10.03 | ▼ −1.08% | ▼ −1.52% | $8.63 (−14.94%) |
May 5, 2026 21w ago | 8-K | $11.14 $11.00 | ▲ +1.26% | ▲ +2.39% | $8.63 (+22.58%) |
May 5, 2026 21w ago | Press Release | $11.14 $11.00 | ▼ −1.26% | ▼ −2.39% | $8.63 (−22.58%) |
Apr 22, 2026 23w ago | Press Release | $11.90 $11.48 | ▼ −3.53% | ▼ −5.01% | $8.63 (−27.52%) |
Mar 9, 2026 29w ago | Press Release | $12.80 $11.73 | ▼ −8.36% | ▼ −7.00% | $8.63 (−32.62%) |
Mar 3, 2026 30w ago | Insider Cluster | $13.30 $12.68 | ▼ −4.66% | ▼ −4.18% | $8.63 (−35.15%) |
Feb 24, 2026 31w ago | 8-K | $12.80 $13.44 | ▲ +5.00% | ▲ +6.10% | $8.63 (−32.62%) |
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