DENTSPLY SIRONA Inc. 2026 Global Healthcare Conference
Review the key takeaways and the transcript of this earnings call.
- Management said the first 6 months of the turnaround have progressed with executive-team recruitment, Lean and Agile implementation, U.S. sales execution, and clinic investment at or above expectations.
- Management cited European inventory exhaling through dealers and prolonged events in conflict areas as headwinds that have delayed sales and increased order prices.
- WellSpect represents about 10% of global revenue and was described as a consistent, better-growing part of the business.
- Management said DENTSPLY SIRONA remains number 1 in consumables and has product portfolios including Astra Premium, MIS, Atlantis, and its region portfolio in implants.
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Transcript
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Morning. My name is Jeff Johnson. I am one of the Senior Medical Technology Analysts at Baird. Our next presentation this morning is from DENTSPLY SIRONA, a leading manufacturer of dental consumables and equipment across the globe. With us today, we are very happy to have DENTSPLY SIRONA CEO, Dan Scavilla, CFO, John Fortson, and Chief Commercial Officer, Aldo Denti. Dan, I will give you 30 seconds if there is anything you want to say to start off or we can go straight into Q&A.
Jeff, just very quickly. First of all, thanks for having us. It is great to be here and I am really excited to have both Jon and Aldo on stage. I am going to have them do some answers because I want the team, I want the investors to understand the strength of my team. Again, appreciate you letting me bring them up with me.
Yeah, no, happy to have all of you here and thanks for making the effort. I will start first with you just because I think you have passed your one-year anniversary now, as CEO of DENTSPLY. What has gone better than you thought in that first year at the company and what maybe have you realized could be tougher than you thought when you first came in?
Yeah, great question, Jeff. A couple things. I am really happy with the team I have recruited over the past year. My executive committee is rock solid and I am feeling very bullish with them. Pulling that level of talent in the face of the turnaround was actually better than I would have anticipated, super pleased with that. I like the progress we made bringing lean and Agile in as a way to discipline and drive, focus on the customer and make things move faster. That is going really well for us as well. Honestly, with Aldo's speed in verticalizing U.S. sales and investing in clinic, getting that done, all at or above where I want to be for right now. The headwinds that we did not see, that I struggle with, I think are the European exhaling of inventory through a lot of the dealers right there.
That's created a little bit of a headwind for us. Even though people don't talk a lot about it, we're number one in a lot of the conflict areas, and that prolonged event of not only delayed sales but increased oil prices. Those things are adding pressure. We're not cutting off our spend, our investment, our return to growth. It's just extra pressure on all those things while the others are going well.
Yeah. As you talk about, I don't have this in my Q&A, so Suzanne, sorry, I'm not going off script already. But when you talk about the quality of the management team, you've also made some pretty significant board changes that seem to really be helping or I guess TBD on helping, but it has strengthened the board.
No, for sure. Listen, bringing someone in with the banking background that's going to help Jon and I with our capital allocation and approach to the game is fantastic. Having Don join, who's come from Patterson in the past and getting at that board level, the dealer perspective can really help us mature that. A couple of great finds in addition with former CFOs. So it's a very strong board. It's a very engaged board, and I think they're willing to share their network, their experience, that helps us move even faster.
All right. That's great. So, one question I want to finish with, and then we'll maybe open it up here to Jon or Aldo. But when you first came in, I went back to some of the first couple transcripts and you talked about moving with urgency. I think you had a quote of, "This a moment for bold change, decisive action rooted in urgency," things like that. I haven't heard you use that word "urgency" as much in the last quarter or two, and maybe I'm overreading things, but as you've dug in here, how are you thinking about the time to turn around and to really stabilize and return this business to growth?
No, I got it. So listen, every answer hereafter is going to use the word "urgent.
Now my transcript search will highlight this one.
You're right. Honestly, nothing shifted. We really kicked off in January. We said that's the start. We've reported out through the first six months. Dropping the word probably is more something on my side I wasn't realizing.
Yep. But I would say that the speed in which we recruited, that we did the transformation, that we brought lean in, as we're going after the cost reduction exercises, reinvestment exercises, they continue at an urgent pace.
I probably would tell you I'm not signaling anything of a concern of, gosh, this is going to be deeper than I thought. Not really anything right now. I'm happy with where we are.
Yep. Do I wish we could move faster?
Of course. Yeah. Right? I think that would be true about a lot.
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