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The decline in earnings and lowered guidance indicate potential long-term weakness, reminiscent of past declines during economic downturns. For example, in 2020, lower guidance similarly impacted stocks across sectors.
What happened, with direct paths to the underlying reporting
XRAY reported adjusted earnings of 37 cents, below last year's 50 cents. Sales declined 5% year-over-year, totaling $904 million, slightly above expectations. CFO Matt Garth departed; interim CFO Leslie Varon has been appointed. Fiscal 2025 earnings guidance lowered to $1.60 per share, below consensus. Management's Return-to-Growth strategy aims for sustained growth over 24 months.
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