Shares of Envista Holdings Corporation (NYSE: NVST) surged over 20% in extended trading on Monday after the dental products company reported better-than-expected results for the third quarter of 2024.
The company reported adjusted earnings per share of $0.12 for the quarter, beating analysts' consensus estimate of $0.09 by 33%. Revenue came in at $601 million, up 1.8% from the prior year quarter and surpassing the Street's forecast of $590.32 million.
Envista reaffirmed its full-year 2024 guidance, expecting core sales growth in the range of -1% to -4% and adjusted EBITDA margins between 10% and 12%. CEO Paul Keel noted that the company's commercial and innovation investments are showing positive impact, as Envista focuses on accelerating growth, driving operational improvements through the Envista Business System, and cultivating a high-performing and inclusive culture.
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