Envista Holdings (NVST) Company Report

Envista characterizes the overall dental market as soft but stable, with low single-digit growth, and anticipates a strong finish to the year.
The company has achieved approximately 5% year-to-date growth, with its Spark aligner business growing above market share driven by product innovation and a comprehensive solution strategy.
Margin expansion efforts include a 20% year-over-year cost reduction per aligner for Spark and a 12% year-to-date reduction in G&A (in dollars).
Envista updated its tax rate guidance from 37% to 33% mid-year, expecting a significant tailwind in 2026 due to the resolution of an intercompany loan, bringing the rate "much below 33%".
Capital deployment priorities focus on organic growth and accretive M&A, alongside a $250 million share purchase program over two years approved earlier this year.

2 days ago

Transcript

Envista Holdings CFO Discusses Market Trends, Spark Profitability, and Capital Deployment

NVST

Guidance Update

Product Launch

Share Buyback

Envista's CFO, Eric Hammes, characterized the overall dental market as "soft but stable" with low single-digit growth, noting positive trends in North America and Europe, while diagnostics are improving after a negative year-to-date performance.
The Spark aligner business achieved operating profitability in Q3 2025 and is growing above market, supported by new product launches and a 20% year-over-year reduction in aligner cost.
The company anticipates a significant tax rate tailwind in 2026, projected to be "much below 33%", due to the resolution of a large intercompany loan.
Envista maintains a strong balance sheet with over $1 billion in cash and less than one times net debt to EBITDA, with capital deployment focused on organic growth, accretive M&A, and a $250 million share repurchase program.

2 days ago

Transcript

Envista Holdings Discusses Market Trends, Product Innovation, and Financial Strategy

NVST

Product Launch

Guidance Update

Share Buyback

The overall dental market is described as "soft but stable" with low single-digit growth, consistent over the last four quarters, while the diagnostics market, though still negative low single-digit year-to-date, shows a modestly improving trend.
Envista's Spark aligner business is growing above market share, supported by new product introductions and expansion into new markets like Japan. The company has seen four consecutive quarters of implant growth following a $25 million investment last year, and new product launches are driving performance in diagnostics, with AI integration in DTX Studio reducing treatment planning time from 60 minutes to 5 minutes.
Envista anticipates a significant tailwind to its tax rate in 2026, expecting it to be "much below" the current 33% guidance due to the resolution of an intercompany loan. The company maintains a strong balance sheet with slightly less than 1x net debt to EBITDA and prioritizes organic growth, accretive M&A, and returning cash to shareholders, including a $250 million share repurchase program over two years.

2 days ago

Transcript

Envista Holdings Reports Strong Q3 2025 Results and Raises Full-Year Guidance

NVST

Earnings

Guidance Update

Share Buyback

Envista Holdings reported strong Q3 2025 results, with core growth of 9% (approximately 5% excluding Spark deferral benefits) and adjusted EPS of $0.32, more than double the prior year.
The company's adjusted EBITDA margin reached 14.5%, an increase of 500 basis points from Q3 2024, driven by good growth and productivity.
Envista Holdings raised its full-year 2025 guidance, now expecting core revenue growth of approximately 4% (up from 3-4% previously) and adjusted EPS of $1.10 to $1.15 (up from $1.05 to $1.15 previously).
The Spark business turned profitable in Q3 2025, contributing to the 15.5% adjusted operating margin for the Specialty Products and Technology segment, which saw core sales increase by 10.6%.
In Q3 2025, the company generated $68 million in free cash flow and repurchased $40 million of stock (2.1 million shares), bringing year-to-date repurchases to $140 million (8 million shares).

Oct 30, 2025, 9:00 PM

Transcript

NVST Reports Strong Q3 2025 Results and Raises Full-Year Guidance

NVST

Earnings

Guidance Update

Product Launch

NVST reported Q3 2025 revenue of $669.9 million, with 9.4% core sales growth and an adjusted diluted EPS of $0.32, marking a 167% year-over-year increase.
The company updated its full-year 2025 guidance, raising core growth to ~4% (from 3-4%) and adjusted EPS to $1.10 - $1.15 (from $1.05 - $1.15), while maintaining adjusted EBITDA margin guidance at ~14%.
Operationally, NVST's Spark aligner business achieved profitability and shipped its 1 millionth case since launch, alongside several new product launches including Spark Jr. and DEXIS Imprevo IOS.

Oct 30, 2025, 9:00 PM

Presentation

Envista Holdings Corporation (NVST) Reports Strong Q3 2025 Results and Raises Full-Year Guidance

NVST

Earnings

Guidance Update

Share Buyback

Envista Holdings Corporation (NVST) reported Q3 2025 sales of $670 million, with core sales increasing 9.4% and adjusted EPS of $0.32, up $0.20 compared to the same quarter last year.
The Spark aligner business achieved positive operating profit in Q3 2025 and shipped its one millionth case since launching in 2019, reaching nearly $300 million in revenue in under six years.
The company updated its full-year 2025 guidance, expecting core sales growth of approximately 4% (up from 3% to 4% previously) and EPS between $1.10 and $1.15 (up from $1.05 to $1.15 previously).
NVST generated $68 million in free cash flow in Q3 2025 and repurchased 2.1 million shares for approximately $40 million during the quarter.

Oct 30, 2025, 9:00 PM

Transcript

NVST Reports Strong Q3 2025 Results and Raises Full-Year Guidance

NVST

Earnings

Guidance Update

Share Buyback

Envista Holdings reported Q3 2025 sales of $670 million with 9.4% core sales growth and adjusted EPS of $0.32, more than double the prior year.
The company raised its full-year 2025 guidance, now anticipating core revenue growth of approximately 4% (up from 3%-4% previously) and adjusted EPS of $1.10-$1.15 (up from $1.05-$1.15 previously).
The Spark aligner business achieved positive operating profit in Q3 2025 and shipped its one millionth case since its 2019 launch.
In Q3 2025, Envista generated $68 million in free cash flow and repurchased $40 million of stock.

Oct 30, 2025, 9:00 PM

Transcript

Envista Holdings Reports Strong Q3 2025 Results and Updates Full-Year Guidance

NVST

Earnings

Guidance Update

Share Buyback

Envista Holdings reported Q3 2025 sales of $670 million, marking a 9.4% core sales growth over the third quarter of 2024.
Adjusted EPS for Q3 2025 was $0.32, a 167% increase year-on-year, and adjusted EBITDA reached $97 million, up 77% with a 14.5% margin.
All major businesses delivered positive growth, with Spark aligners achieving profitability.
The company repurchased 2.1 million shares for approximately $41 million during Q3 2025, with $108 million remaining in repurchase capacity.
Envista updated its full-year 2025 guidance, raising the lower end of its adjusted diluted EPS range to $1.10 to $1.15 and affirming core sales growth of ~4% and adjusted EBITDA margin of ~14%.

Oct 30, 2025, 12:28 AM

Press Release

Envista Holdings Corp Discusses Strategic Progress and Market Trends at Stifel Conference

NVST

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

CEO Paul Keel reported that Envista's strategic thesis has largely played out as expected, despite macro uncertainty in Q1 2025.
The company's orthodontics business is the fastest growing, and consumables are performing well, while the diagnostics segment remains in contraction.
Envista has invested an additional $25 million to accelerate growth in high-margin areas, leading to four consecutive quarters of accelerating growth in its premium implants business.
The Spark clear aligner business is projected to achieve EBIT positive status in the second half of 2025, supported by 20 consecutive quarters of sequential unit cost reduction through automation.
Envista is actively mitigating tariff impacts by leveraging its global manufacturing flexibility and implementing price adjustments, having secured 1 point of price in Q1 2025.

Aug 1, 2025, 4:01 PM

Earnings Transcripts

Quarterly earnings call transcripts for Envista Holdings.

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