Material Weakness In Internal Control: Dentsply Stock Falls Despite Q2 Beat - What's Going On
Portfolio Pulse from Vandana Singh
Dentsply Sirona Inc (NASDAQ:XRAY) reported Q2 adjusted EPS of $0.51, beating the consensus of $0.43, and sales of $1.03 billion, beating the consensus of $992.15 million. The company raised its 2023 net sales outlook by $75 million. However, the company identified a material weakness in internal control over financial reporting. Despite the positive results, XRAY shares are down 4.70%.
August 04, 2023 | 1:47 pm
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Dentsply Sirona's shares fell despite beating Q2 expectations and raising its 2023 sales outlook, due to a material weakness in internal control over financial reporting.
Dentsply Sirona reported better than expected Q2 results and raised its 2023 sales outlook. However, the company also identified a material weakness in internal control over financial reporting. This negative news overshadowed the positive earnings report, leading to a drop in the company's stock price.
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