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, /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") will report financial results for its second quarter 2026 on Wednesday, August 5, 2026. Envista will discuss these results on a conference call on the same day beginning at 2:00 PM PT and lasting approximately one hour. 

The call and the accompanying slide presentation will be webcast on the "Investors" section of Envista's website, www.envistaco.com. A replay of the webcast will be available shortly after the conclusion of the presentation and will remain available for one year. You can access the conference call by dialing 1-800-836-8184 within the U.S. or +1 646-357-8785 outside the U.S. a few minutes before 2:00 PM PT and referencing Conference ID #73468.

Envista's earnings press release, the webcast slides, and other related presentation materials will be posted to the "Investors" section of Envista's website before the conference call and will remain available following the call.

ABOUT ENVISTA HOLDINGS CORPORATION

Envista is a global leader in the dental industry, uniting more than 30 trusted brands—including DEXIS, Kerr, Nobel Biocare, and Ormco—under one mission: partnering with dental professionals to improve patients' lives. With a heritage of category-defining innovation, our brands have shaped modern dentistry: Nobel Biocare introduced the first dental implant, Ormco is a pioneer in both traditional and digital orthodontics, DEXIS has long been at the forefront of 2D, 3D and intraoral imaging, and Kerr has supported clinicians for over 135 years.  Our high-performing culture is underpinned by our CIRCLe Values and the Envista Business System.  Guided by these, we deliver a comprehensive portfolio of technologies, consumables, and services that empower clinicians to provide confident, efficient care—today and for the future.  Learn more at http://envistaco.com.

FOR FURTHER INFORMATION
Jim Gustafson
Vice President, Investor Relations
Envista Holdings Corporation
200 S. Kraemer Blvd., Building E
Brea, CA 92821
Telephone: (424) 350-5259
[email protected] 

SOURCE Envista Holdings Corporation

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Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.

NVST is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 18.35; value investors should take notice.

Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.15 to $1.41 per share. NVST also boasts an average earnings surprise of +16.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, NVST should be on investors' short list.

Posted by Defense World Staff on Apr 26th, 2026

Cwm LLC boosted its stake in Envista Holdings Corporation (NYSE:NVST – Free Report) by 55.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,217 shares of the company’s stock after buying an additional 25,905 shares during the period. Cwm LLC’s holdings in Envista were worth $1,568,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NVST. Holocene Advisors LP acquired a new position in shares of Envista during the second quarter valued at $43,936,000. Alliancebernstein L.P. increased its holdings in shares of Envista by 34.0% during the second quarter. Alliancebernstein L.P. now owns 6,098,445 shares of the company’s stock valued at $119,164,000 after purchasing an additional 1,547,656 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Envista during the third quarter valued at $24,260,000. Integral Health Asset Management LLC acquired a new position in shares of Envista during the third quarter valued at $11,204,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Envista by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,149 shares of the company’s stock valued at $59,178,000 after purchasing an additional 523,949 shares during the period.

Wall Street Analysts Forecast Growth NVST has been the topic of a number of research analyst reports. Robert W. Baird set a $30.00 price target on Envista in a report on Friday, February 6th. Wall Street Zen raised Envista from a “buy” rating to a “strong-buy” rating in a report on Monday, January 26th. Stifel Nicolaus set a $31.00 price target on Envista in a report on Friday, February 6th. Wells Fargo & Company raised their price target on Envista from $21.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Finally, Morgan Stanley raised their price target on Envista from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Envista presently has an average rating of “Hold” and a consensus price target of $27.85.

Get Our Latest Stock Analysis on Envista

Insider Transactions at Envista In related news, SVP Mischa Reis sold 9,675 shares of Envista stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $30.00, for a total transaction of $290,250.00. Following the transaction, the senior vice president directly owned 32,382 shares of the company’s stock, valued at $971,460. The trade was a 23.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.99% of the stock is currently owned by insiders.

Envista Price Performance NYSE:NVST opened at $26.84 on Friday. The business’s 50-day moving average price is $26.91 and its 200 day moving average price is $23.72. The firm has a market cap of $4.37 billion, a P/E ratio of 95.84, a PEG ratio of 1.85 and a beta of 0.98. Envista Holdings Corporation has a 52-week low of $15.49 and a 52-week high of $30.42. The company has a quick ratio of 2.04, a current ratio of 2.38 and a debt-to-equity ratio of 0.47.

Envista (NYSE:NVST – Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. Envista had a return on equity of 6.54% and a net margin of 1.73%.The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Envista has set its FY 2026 guidance at 1.350-1.450 EPS. As a group, sell-side analysts predict that Envista Holdings Corporation will post 1.4 earnings per share for the current fiscal year.

Envista Profile (Free Report)

Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company’s offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.

Envista’s product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.

Further Reading Five stocks we like better than Envista Want to see what other hedge funds are holding NVST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Envista Holdings Corporation (NYSE:NVST – Free Report).

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, /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) today announced results for the quarter ended April 3, 2026.

"We delivered a good start to 2026, with first quarter results reflecting continued strong execution and progress in support of our strategic priorities," said Paul Keel, CEO. "We delivered growth across all our major businesses, driven by customer engagement and new product commercialization. Our 9.5% core revenue growth converted to 25% adjusted EBITDA and 50% EPS growth, while also supporting double-digit increases in R&D and Sales & Marketing investment. With momentum continuing, we are reaffirming our full-year guidance and announcing an incremental $300 million share repurchase program."

First Quarter Financial Highlights

Sales were $706 million, with core sales growth of 9.5% over the first quarter of 2025. GAAP diluted EPS of $0.23 and adjusted diluted EPS of $0.36 (+50% year-on-year) GAAP Net Income was $39 million and adjusted EBITDA was $99 million (+25% year-on-year), with an adjusted EBITDA margin of 14.0% (+120 bps year-on-year) First Quarter Business Highlights

Growth:  In the context of macro uncertainty, all major businesses delivered positive growth, with 8.4% core growth in our Specialty Products & Technologies segment and 11.5% core growth in our Equipment and Consumables segment. Operations:  Ongoing broad-based contributions from the Envista Business System (EBS) supporting 100 bps of Gross Margin and 120 bps of adjusted EBITDA margin expansion. People:  Continued gains in employee engagement and talent development; 3700 patients served through our charitable Envista Smile Project. Net Income, EBITDA, and EPS (in millions, except per share amounts):

Three Months Ended

April 3, 2026

March 28, 2025

GAAP Net Income

$                     39

$                     18

Adjusted Net Income

$                     60

$                     42

Adjusted EBITDA

$                     99

$                     79

GAAP Diluted Earnings Per Share

$                  0.23

$                  0.10

Adjusted Diluted Earnings Per Share                                                                 

$                  0.36

$                  0.24

Cash Flow:

Operating cash flow for the first quarter of 2026 was negative $3 million and free cash flow was negative $16 million, compared to $0 million and negative $5 million in the first quarter of 2025, respectively. 

Share Repurchases:

During the quarter ended April 3, 2026, we repurchased 1.6 million shares for approximately $43 million.  At the end of the quarter, we had approximately $41 million remaining repurchase capacity under our stock repurchase program.

On May 5, 2026, our Board of Directors authorized a new stock repurchase program under which we may repurchase an incremental $300 million of our outstanding common stock through December 31, 2029.

Outlook:

We are maintaining the following guidance for the full year 2026:

            2026 Guidance            

Core Sales Growth

2% to 4%

Adjusted EBITDA Growth

7% to 13%

Adjusted Diluted Earnings Per Share                                                                           

$1.35 to $1.45

Free Cash Conversion

~100%

Please note, we do not provide forward-looking estimates on a GAAP basis as certain information is not available and cannot be reasonably estimated.

We will discuss our quarterly results and provide details on our outlook for 2026 during an investor conference call on May 6, 2026, starting at 2:00 P.M. PT. The call and an accompanying slide presentation will be webcast on the "Investors" section of our website, www.envistaco.com, under the subheading "Events & Presentations." A replay of the webcast will be available in the same section of our website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.

The conference call can be accessed by dialing 800-836-8184 within the U.S. or +1 646-357-8785 outside the U.S. a few minutes before 2:00 PM PT and referencing conference ID #51461.  A replay of the conference call will be available shortly after the conclusion of the call. You can access the replay dial-in information on the "Investors" section of our website under the subheading "Events & Presentations." Presentation materials relating to our results have been posted to the "Investors" section of our website under the subheading "Quarterly Earnings".

ABOUT ENVISTA

Envista is a global leader in the dental industry, uniting more than 30 trusted brands—including DEXIS, Kerr, Nobel Biocare, and Ormco—under one mission: partnering with dental professionals to improve patients' lives. With a heritage of category-defining innovation, our brands have shaped modern dentistry: Nobel Biocare introduced the first dental implant, Ormco is a pioneer in both traditional and digital orthodontics, DEXIS has long been at the forefront of 2D, 3D and intraoral imaging, and Kerr has supported clinicians for over 135 years.  Our high-performing culture is underpinned by our CIRCLe Values and the Envista Business System.  Guided by these, we deliver a comprehensive portfolio of technologies, consumables, and services that empower clinicians to provide confident, efficient care—today and for the future.  Learn more at http://envistaco.com.

NON-GAAP MEASURES

All "Adjusted" amounts including core sales growth and free cash flow are non-GAAP items. Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these non-GAAP measures are included in the attached supplemental schedules. We do not reconcile forward looking non-GAAP measures to the comparable GAAP measures because of the inherent difficulty in predicting and estimating the future impact and timing of currency translation, acquisitions, discontinued products, and any other potential adjustments which would be reflected in any forecasted GAAP measure.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, the conditions in the U.S. and global economy, the impact of inflation and increasing interest rates, slower economic growth or recession, international economic, political, legal, compliance and business factors, the markets served by us and the financial markets, the impact of our debt obligations on our operations and liquidity, developments and uncertainties in trade policies and regulations including tariffs or other impositions on imported goods, contractions or growth rates and cyclicality of markets we serve, risks relating to product manufacturing, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole or limited sources of supply, disruptions relating to war (including supply chain disruptions), terrorism, climate change, widespread protests and civil unrest, man-made and natural disasters, public health issues and other events, security breaches or other disruptions of our information technology systems or violations of data privacy laws, security breaches or other disruptions affecting our external information technology contractors, vendors or other service providers, our growing use of artificial intelligence systems to automate processes and analyze data, fluctuations in inventory of our distributors and customers, loss of a key distributor, our relationships with and the performance of our channel partners, competition, our ability to develop and successfully market new products and services, our ability to attract, develop and retain our key personnel, the potential for improper conduct by our employees, agents or business partners, our compliance with applicable laws and regulations (including regulations relating to medical devices and the health care industry), the results of our clinical trials and perceptions thereof, penalties associated with any off-label marketing of our products, modifications to our products that require new marketing clearances or authorizations, our ability to effectively address cost reductions and other changes in the health care industry, our ability to successfully identify and consummate appropriate acquisitions and strategic investments, our ability to integrate the businesses we acquire and achieve the anticipated benefits of such acquisitions, contingent liabilities relating to acquisitions, investments and divestitures, our ability to adequately protect our intellectual property, the impact of our restructuring activities on our ability to grow, risks relating to impairment charges for our goodwill and intangible assets, changes in accounting standards and subjective assumptions, estimates and judgment by management, currency exchange rates, changes in tax laws applicable to multinational companies, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, risks relating to product, service or software defects, the impact of regulation on demand for our products and services, and labor matters. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our Annual Report on Form 10-K for fiscal year 2025 and our Quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release and except to the extent required by applicable law, we do not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.

CONTACT
Jim Gustafson
Vice President, Investor Relations
Envista Holdings Corporation
200 S. Kraemer Blvd., Building E
Brea, CA 92821
[email protected]

ENVISTA HOLDINGS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

($ and shares in millions, except per share amounts)

Three Months Ended

April 3, 2026

March 28, 2025

Sales

$            705.5

$            616.9

Cost of sales

315.4

280.9

Gross profit

390.1

336.0

Operating expenses:

Selling, general and administrative

297.6

271.7

Research and development

30.0

25.3

Operating profit

62.5

39.0

Nonoperating (expense) income:

Other expense, net

(2.9)

(0.7)

Interest expense, net

(7.4)

(9.3)

Income before income taxes

52.2

29.0

Income tax expense

13.5

11.0

Net income

$             38.7

$             18.0

Earnings per share:

Earnings - basic

$             0.24

$             0.10

Earnings - diluted

$             0.23

$             0.10

Average common stock and common equivalent shares outstanding:                                       

Basic

163.9

172.4

Diluted

166.4

173.6

ENVISTA HOLDINGS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

($ in millions, except share amounts)

As of

April 3, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$           1,082.8

$         1,211.7

     Trade accounts receivable, less allowance for credit losses of $23.7 and $22.5,          

     respectively

436.6

429.6

Inventories, net

300.3

288.1

Prepaid expenses and other current assets

99.4

97.2

Total current assets

1,919.1

2,026.6

Property, plant and equipment, net

298.7

296.8

Operating lease right-of-use assets

143.6

142.1

Other long-term assets

223.8

228.1

Goodwill

2,359.8

2,358.2

Other intangible assets, net

633.0

627.2

Total assets

$           5,578.0

$         5,679.0

LIABILITIES AND EQUITY

Current liabilities:

Trade accounts payable

170.0

191.6

Accrued expenses and other liabilities

577.9

622.0

Operating lease liabilities

38.7

39.0

Total current liabilities

786.6

852.6

Operating lease liabilities

111.4

110.4

Other long-term liabilities

161.4

161.4

Long-term debt

1,439.1

1,448.3

Commitments and contingencies

Stockholders' equity:

Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued

or outstanding at April 3, 2026 and December 31, 2025

—

—

Common stock, $0.01 par value, 500.0 million shares authorized; 176.2 million

shares issued and 162.9 million shares outstanding at April 3, 2026; 175.4 million

shares issued and 163.8 million shares outstanding at December 31, 2025

1.8

1.8

Treasury stock at cost; 13.3 million shares and 11.6 million shares at April 3, 2026

and December 31, 2025, respectively

(273.5)

(224.5)

Additional paid-in capital

3,896.0

3,882.6

Accumulated deficit

(401.7)

(440.4)

Accumulated other comprehensive loss

(143.1)

(113.2)

Total stockholders' equity

3,079.5

3,106.3

Total liabilities and stockholders' equity

$           5,578.0

$         5,679.0

ENVISTA HOLDINGS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

($ in millions)

Three Months Ended

April 3, 2026

March 28, 2025

Cash flows from operating activities:

Net income

$              38.7

$               18.0

Noncash items:

Depreciation

10.4

9.1

Amortization

18.8

18.8

Allowance for credit losses

4.4

1.3

Stock-based compensation expense

10.2

7.1

Loss on investments in rabbi trust, net

0.9

0.6

Loss on equity investments

2.0

—

Loss on sale of property, plant and equipment

0.1

—

Restructuring charges

—

0.2

Non-cash operating lease costs

9.1

8.4

Amortization of debt discount and issuance costs

1.0

1.1

Change in trade accounts receivable

(13.3)

(21.3)

Change in inventories

(9.6)

(10.1)

Change in trade accounts payable

(21.4)

(15.1)

Change in prepaid expenses and other assets

(3.1)

(7.8)

Change in accrued expenses and other liabilities

(39.8)

0.8

Change in operating lease liabilities

(11.7)

(10.8)

Net cash (used in) provided by operating activities

(3.3)

0.3

Cash flows from investing activities:

Payments for additions to property, plant and equipment

(12.5)

(5.9)

Purchases of investments held in rabbi trust

(3.4)

(0.7)

Proceeds from sale of investments held in rabbi trust

0.5

0.7

Proceeds from sales of property, plant and equipment

0.1

0.5

Acquisitions, net of cash acquired

(54.4)

(3.6)

All other investing activities, net

0.8

0.2

Net cash used in investing activities

(68.9)

(8.8)

Cash flows from financing activities:

Proceeds from stock option exercises

3.5

0.8

Cash paid for treasury stock under the stock repurchase program

(42.7)

(14.6)

Treasury stock purchases related to tax withholding on equity awards                                  

(6.0)

(3.8)

All other financing activities

(0.4)

—

Net cash used in financing activities

(45.6)

(17.6)

Effect of exchange rate changes on cash and cash equivalents

(11.1)

34.3

Net change in cash and cash equivalents

(128.9)

8.2

Beginning balance of cash and cash equivalents

1,211.7

1,069.1

Ending balance of cash and cash equivalents

$           1,082.8

$           1,077.3

ENVISTA HOLDINGS CORPORATION

SUMMARY OF FINANCIAL METRICS (Unaudited)

($ in millions, except per share amounts)

GAAP

Three Months Ended

April 3, 2026

March 28, 2025

Gross Profit

$            390.1

$            336.0

Operating Profit

$              62.5

$              39.0

Net Income

$              38.7

$              18.0

Diluted Earnings Per Share                                                                                                           

$              0.23

$              0.10

Operating Cash Flow

$              (3.3)

$               0.3

NON-GAAP *

Three Months Ended

April 3, 2026

March 28, 2025

Adjusted Gross Profit

$             393.6

$            338.3

Adjusted Operating Profit

$              89.4

$              70.6

Adjusted Net Income

$              60.0

$              41.5

Adjusted Diluted EPS

$              0.36

$              0.24

Adjusted EBITDA

$              98.9

$              79.0

Free Cash Flow

$             (15.7)

$              (5.1)

* For information on non-GAAP measures see "Reconciliation of GAAP to Non-GAAP Financial Measures" below. Also see

  the accompanying "Notes to Reconciliation of GAAP to Non-GAAP Financial Measures."

ENVISTA HOLDINGS CORPORATION

SEGMENT INFORMATION (Unaudited)

($ in millions)

Three Months Ended

April 3, 2026

March 28, 2025

Sales

Specialty Products & Technologies                                                                                              

$            457.8

$            400.3

Equipment & Consumables

247.7

216.6

Total

$            705.5

$            616.9

Operating Profit (Loss)

Specialty Products & Technologies

$              46.5

$              37.6

Equipment & Consumables

46.8

31.9

Other

(30.8)

(30.5)

Total

$              62.5

$              39.0

Operating Margins

Specialty Products & Technologies

10.2 %

9.4 %

Equipment & Consumables

18.9 %

14.7 %

Total

8.9 %

6.3 %

ENVISTA HOLDINGS CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (UNAUDITED)

($ and shares in millions, except per share amounts)

Adjusted Gross Profit and Adjusted Gross Margin

Three Months Ended

April 3, 2026

March 28, 2025

Gross Profit

$         390.1

$         336.0

Restructuring costs and asset impairments A

3.1

1.9

Fair value adjustment of acquisition-related inventory B

0.4

0.4

Adjusted Gross Profit

$         393.6

338.3

Gross Margin (Gross Profit / Sales)

55.3 %

54.5 %

Adjusted Gross Margin (Adjusted Gross Profit / Sales)

55.8 %

54.8 %

Adjusted Operating Profit

Three Months Ended

April 3, 2026

March 28, 2025

Consolidated

Operating Profit

$           62.5

$           39.0

Amortization of acquisition-related and other intangible assets                                                 

18.8

18.8

Restructuring costs and asset impairments A

7.4

11.4

Fair value adjustment of acquisition-related inventory B

0.4

0.4

Litigation settlement C

—

0.8

Acquisition-related expenses D

0.3

0.2

Adjusted Operating Profit

$           89.4

$           70.6

Adjusted Operating Profit as a % of Sales

12.7 %

11.4 %

Specialty Products & Technologies

Operating Profit

$           46.5

$           37.6

Amortization of acquisition-related and other intangible assets

15.6

14.6

Restructuring costs and asset impairments A

4.4

4.2

Adjusted Operating Profit

$           66.5

$           56.4

Adjusted Operating Profit as a % of Sales

14.5 %

14.1 %

Equipment & Consumables

Operating Profit

$           46.8

$           31.9

Amortization of acquisition-related and other intangible assets

3.2

4.2

Restructuring costs and asset impairments A

2.0

2.3

Litigation settlement C

—

0.8

Adjusted Operating Profit

$           52.0

$           39.2

Adjusted Operating Profit as a % of Sales

21.0 %

18.1 %

See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures

Adjusted Net Income

Three Months Ended

April 3, 2026

March 28, 2025

Net Income

$             38.7

$             18.0

Amortization of acquisition-related and other intangible assets

18.8

18.8

Restructuring costs and asset impairments A

7.4

11.4

Fair value adjustment of acquisition-related inventory B

0.4

0.4

Litigation settlement C

—

0.8

Acquisition-related expenses D

0.3

0.2

Loss on equity investments E

2.0

—

Tax effect of adjustments reflected above F

(7.8)

(8.8)

Discrete tax adjustments and other tax-related adjustments G

0.2

0.7

Adjusted Net Income

$             60.0

$             41.5

Adjusted Diluted Earnings Per Share

Three Months Ended

April 3, 2026

March 28, 2025

Diluted Earnings Per Share

$             0.23

$             0.10

Amortization of acquisition-related and other intangible assets

0.11

0.11

Restructuring costs and asset impairments A

0.05

0.07

Fair value adjustment of acquisition-related inventory B

—

—

Litigation settlement C

—

0.01

Acquisition-related expenses D

—

—

Loss on equity investments E

0.01

—

Tax effect of adjustments reflected above F

(0.04)

(0.05)

Discrete tax adjustments and other tax-related adjustments G

—

—

Adjusted Diluted Earnings Per Share

$             0.36

$             0.24

Adjusted EBITDA

Three Months Ended

April 3, 2026

March 28, 2025

Net Income

$           38.7

$          18.0

Interest expense, net

7.4

9.3

Income tax expense

13.5

11.0

Depreciation

10.4

9.1

Amortization of acquisition-related and other intangible assets

18.8

18.8

Restructuring costs and asset impairments A

7.4

11.4

Fair value adjustment of acquisition-related inventory B

0.4

0.4

Litigation settlement C

—

0.8

Acquisition-related expenses D

0.3

0.2

Loss on equity investments E

2.0

—

Adjusted EBITDA

$           98.9

$          79.0

Adjusted EBITDA as a % of Sales

14.0 %

12.8 %

See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures

 Core Sales Growth 1

Consolidated

% Change Three Month

Period Ended April 3, 2026 vs.

Comparable 2025 Period

Total sales growth

14.4 %

Plus the impact of:

Acquisitions

(0.6) %

Currency exchange rates

(4.3) %

Core Sales Growth

9.5 %

Specialty Products & Technologies                                                                                                   

Total sales growth

14.4 %

Plus the impact of:

Acquisitions

(0.9) %

Currency exchange rates

(5.1) %

Core Sales Growth

8.4 %

Equipment & Consumables

Total sales growth

14.4 %

Plus the impact of:

Currency exchange rates

(2.9) %

Core Sales Growth

11.5 %

1   

We use the term "core sales" to refer to GAAP revenue excluding  (1) sales from acquired businesses recorded prior to the first

anniversary of the acquisition ("acquisitions"), (2) sales from discontinued products and (3) the impact of currency translation.

Sales from discontinued products includes major brands or products that Envista has made the decision to discontinue as part

of a portfolio restructuring. Discontinued brands or products consist of those which Envista (1) is no longer manufacturing, (2) is

no longer investing in the research or development of, and (3) expects to discontinue all significant sales within one year from

the decision date to discontinue. The portion of sales attributable to discontinued brands or products is calculated as the net

decline of the applicable discontinued brand or product from period-to-period. The portion of GAAP revenue attributable to

currency exchange rates is calculated as the difference between (a) the period-to-period change in sales and (b) the

period-to-period change in sales after applying current period foreign exchange rates to the prior year period. We use the term

"core sales growth" to refer to the measure of comparing current period core sales with the corresponding period of the prior year.

During the first quarter of 2026, we updated our methodology for how we calculate changes in the sales price from period to

period. Changes in sales prices are now calculated by comparing the current quarter sales prices to the full year sales price

average from the prior year as it better reflects pricing trends over time.

Reconciliation of Operating Cash Flows to Free Cash Flow

Three Months Ended

April 3, 2026

March 28, 2025

Net operating cash (used in) provided by operating activities

$           (3.3)

$            0.3

Less: payments for additions to property, plant and equipment (capital expenditures)                  

(12.5)

(5.9)

Plus: proceeds from sales of property, plant and equipment

0.1

0.5

Free Cash Flow (FCF)

$         (15.7)

$           (5.1)

FCF to Adjusted Net Income Conversion Ratio

(26.2) %

(12.3) %

See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures

ENVISTA HOLDINGS CORPORATION
NOTES TO RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (UNAUDITED)

A We exclude impairment of certain long-lived assets, executive transition costs, and cost incurred pursuant to discrete restructuring plans. 

B Represents the fair value adjustment related to inventory acquired in connection with acquisitions.

C Represents the settlement of certain litigation matters.

D Represents acquisition-related transaction expenses and integration costs with respect to business combinations.

E Represents losses on equity investments.

F This line item represents the aggregate tax effect of all pretax adjustments reflected in the preceding line items of the table using each adjustment's applicable tax rate, including the effect of interim tax accounting requirements of Accounting Standards Codification Topic 740 Income Taxes.

G Discrete tax matters primarily relate to excess tax benefits from stock-based compensation, changes in estimates associated with prior period uncertain tax positions and audit settlements, tax benefits resulting from a change in law, and changes in determination of realization of certain deferred tax assets.

Statement Regarding Non-GAAP Measures

Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing Envista Holdings Corporation's ("Envista" or the "Company") results that, when reconciled to the corresponding GAAP measure, help our investors to:

with respect to Core Sales, identify underlying growth trends in Envista's business and compare Envista's revenue performance with prior and future periods and to Envista's peers; with respect to Adjusted Gross Profit, Adjusted Operating Profit, Adjusted Net Income, Adjusted Diluted Earnings Per Share and Adjusted EBITDA, understand the long-term profitability trends of Envista's business and compare Envista's profitability to prior and future periods and to Envista's peers; with respect to Adjusted EBITDA, help investors understand operational factors associated with Envista's financial performance because it excludes the following from consideration:  interest, taxes, depreciation, amortization, and infrequent or unusual losses or gains such as goodwill impairment charges or nonrecurring and restructuring charges. Management uses Adjusted EBITDA, as a supplemental measure for assessing operating performance in conjunction with related GAAP amounts.  In addition, Adjusted EBITDA is used in connection with operating decisions, strategic planning, annual budgeting, evaluating Company performance and comparing operating results with historical periods and with industry peer companies; and with respect to Free Cash Flow (the "FCF Measure"), understand Envista's ability to generate cash without external financings, in order to invest and grow its business through acquisitions and other strategic opportunities. A limitation of free cash flow is that it does not take into account the Company's debt service requirements and other non-discretionary expenditures, and as a result the entire Free Cash Flow amount is not necessarily available for discretionary expenditures. Management uses these non-GAAP measures to evaluate the Company's operating and financial performance.

The items excluded from the non-GAAP measures set forth above have been excluded for the following reasons:

With respect to Adjusted Gross Profit, Adjusted Operating Profit, Adjusted Net Income, Adjusted Diluted Earnings Per Share and Adjusted EBITDA: We exclude amortization of acquisition-related and other intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition's purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition.  Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies.  We believe, however, that it is important for investors to understand that such intangible assets contribute to revenue generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized. With respect to the other items excluded from Adjusted Gross Profit, Adjusted Net Income, Adjusted Operating Profit, Adjusted Diluted Earnings Per Share and Adjusted EBITDA, we exclude these items because they are of a nature and/or size that occur with inconsistent frequency, occur for reasons that may be unrelated to Envista's commercial performance during the period and/or we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. With respect to core sales, we exclude (1) the effect of acquisitions and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult, (2) sales from discontinued products because discontinued products do not have a continuing contribution to operations and management believes that excluding such items provides investors with a means of evaluating our on-going operations and facilitates comparisons to our peers, and (3) the impact of currency translation because it is not under management's control, is subject to volatility and can obscure underlying business trends. With respect to the FCF Measure, we adjust for payments for additions to property, plant and equipment (net of the proceeds from capital disposals) to arrive at the amount of operating cash flow for the period that remains after accounting for the Company's capital expenditure requirements. SOURCE Envista Holdings Corporation

For the quarter ended March 2026, Envista (NVST - Free Report) reported revenue of $705.5 million, up 14.4% over the same period last year. EPS came in at $0.36, compared to $0.24 in the year-ago quarter.

The reported revenue represents a surprise of +4.75% over the Zacks Consensus Estimate of $673.52 million. With the consensus EPS estimate being $0.31, the EPS surprise was +16.13%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Envista performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Geographic Sales- Equipment & Consumables- Other developed markets: $8.4 million versus $8.91 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.Geographic Sales- Equipment & Consumables- Emerging markets: $34 million compared to the $30.74 million average estimate based on three analysts. The reported number represents a change of +14.9% year over year.Geographic Sales- North America: $364.2 million versus the three-analyst average estimate of $353.73 million. The reported number represents a year-over-year change of +12.3%.Geographic Sales- Western Europe: $184.8 million versus the three-analyst average estimate of $156.12 million. The reported number represents a year-over-year change of +29%.Geographic Sales- Other developed markets: $31.5 million versus $32.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3.6% change.Geographic Sales- Equipment & Consumables- Western Europe: $30.5 million versus $26.73 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +20.6% change.Geographic Sales- Specialty Products & Technologies- North America: $189.4 million versus $186.87 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.6% change.Geographic Sales- Specialty Products & Technologies- Western Europe: $154.3 million versus the three-analyst average estimate of $129.39 million. The reported number represents a year-over-year change of +30.8%.Geographic Sales- Specialty Products & Technologies- Other developed markets: $23.1 million versus the three-analyst average estimate of $23.54 million. The reported number represents a year-over-year change of +5.5%.Geographic Sales- Specialty Products & Technologies- Emerging markets: $91 million compared to the $98.98 million average estimate based on three analysts. The reported number represents a change of +2% year over year.Sales- Equipment & Consumables: $247.7 million versus $232.08 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.Sales- Specialty Products & Technologies: $457.8 million versus the four-analyst average estimate of $438.46 million. The reported number represents a year-over-year change of +14.4%.View all Key Company Metrics for Envista here>>>

Shares of Envista have returned +3.6% over the past month versus the Zacks S&P 500 composite's +10.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

My existing 'buy' rating for Envista is left unchanged following my evaluation of its results and outlook. NVST's 1Q2026 earnings beat consensus by 15%, thanks to a defensive dental market and the company's own cost reduction efforts. The company's high-teens EPS growth guidance for the full year is well-supported by new product launches and synergies relating to its latest M&A.

Have you assessed how the international operations of Envista (NVST - Free Report) performed in the quarter ended March 2026? For this maker of dental products, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.

In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory of growth. For investors, the key is to grasp how reliant a company is on overseas markets, as this provides insights into the durability of its earnings, its ability to exploit different economic cycles, and its overall growth capabilities.

Being present in international markets serves as a counterbalance to domestic economic challenges while offering chances to engage with more rapidly evolving economies. However, this kind of diversification introduces challenges like currency fluctuations, geopolitical uncertainties and varying market trends.

Our review of NVST's last quarterly performance uncovered some notable trends in the revenue contributions from its international markets, which are commonly analyzed and tracked by Wall Street experts.

For the quarter, the company's total revenue amounted to $705.5 million, experiencing an increase of 14.4% year over year. Next, we'll explore the breakdown of NVST's international revenue to understand the importance of its overseas business operations.

Unveiling Trends in NVST's International RevenuesEmerging markets generated $125 million in revenues for the company in the last quarter, constituting 17.7% of the total. This represented a surprise of -3.64% compared to the $129.72 million projected by Wall Street analysts. Comparatively, in the previous quarter, Emerging markets accounted for $165 million (22%), and in the year-ago quarter, it contributed $118.8 million (19.3%) to the total revenue.

During the quarter, Other developed markets contributed $31.5 million in revenue, making up 4.5% of the total revenue. When compared to the consensus estimate of $32.45 million, this meant a surprise of -2.93%. Looking back, Other developed markets contributed $32 million, or 4.3%, in the previous quarter, and $30.4 million, or 4.9%, in the same quarter of the previous year.

Of the total revenue, $184.8 million came from Western Europe during the last fiscal quarter, accounting for 26.2%. This represented a surprise of +18.37% as analysts had expected the region to contribute $156.12 million to the total revenue. In comparison, the region contributed $178.8 million, or 23.8%, and $143.3 million, or 23.2%, to total revenue in the previous and year-ago quarters, respectively.

Revenue Forecasts for the International MarketsFor the current fiscal quarter, it is anticipated by Wall Street analysts that Envista will post revenues of $713.84 million, which reflects an increase of 4.7% the same quarter in the previous year. The revenue contributions are expected to be 22.4% from Emerging markets ($159.88 million), 4.3% from Other developed markets ($30.72 million) and 22.5% from Western Europe ($160.25 million).

For the full year, the company is expected to generate $2.86 billion in total revenue, up 5.1% from the previous year. Revenues from Emerging markets, Other developed markets and Western Europe are expected to constitute 22% ($627.34 million), 4.5% ($127.79 million) and 22% ($627.21 million) of the total, respectively.

In ConclusionEnvista's leaning on foreign markets for its revenue stream presents a mix of chances and challenges. Therefore, a vigilant watch on its international revenue movements can greatly aid in projecting the company's future direction.

With the increasing intricacies of global interdependence and geopolitical strife, Wall Street analysts meticulously observe these patterns, especially for companies with an international footprint, to tweak their forecasts of earnings. Importantly, several additional factors, such as a company's domestic market status, also impact these earnings forecasts.

At Zacks, we place significant importance on a company's evolving earnings outlook. This is based on empirical evidence demonstrating its strong influence on a stock's short-term price movements. Invariably, there exists a positive relationship -- an upward revision in earnings estimates is typically mirrored by a rise in the stock price.

The Zacks Rank, our proprietary stock rating mechanism, demonstrates a notable performance history confirmed through external audits. It effectively utilizes the power of earnings estimate revisions to act as a predictor of a stock's price performance in the near term.

Currently, Envista holds a Zacks Rank #3 (Hold), signifying its potential to match the overall market's performance in the forthcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Reviewing Envista's Recent Stock Price TrendsThe stock has witnessed a decline of 8.2% over the past month versus the Zacks S&P 500 composite's an increase of 9.1%. In the same interval, the Zacks Medical sector, to which Envista belongs, has registered a decrease of 2.9%. Over the past three months, the company's shares saw a decrease of 16.3%, while the S&P 500 increased by 7.1%. In comparison, the sector experienced a decline of 9.8% during this timeframe.

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Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.

NVST is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.74; value investors should take notice.

Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.02 to $1.43 per share. NVST also boasts an average earnings surprise of +15.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, NVST should be on investors' short list.

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Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.

NVST is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.4; value investors should take notice.

For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $1.43 per share. NVST boasts an average earnings surprise of +15.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, NVST should be on investors' short list.

Key Takeaways Envista is up 5.7% YTD and 22.3% over a year while its sub-industry slumped. NVST Q1 2026 revenue rose 14.4% to $705.5M; adjusted EPS jumped 50% to $0.36. Envista kept 2026 core sales growth at 2%-4% and expects adj. EPS $1.35-$1.45. Envista Corporation (NVST - Free Report) has started to rebuild investor confidence, but the valuation question is still front and center. The stock trades at 15.1x forward 12-month earnings, a modest premium to its Zacks sub-industry at 14.9x, and a discount to the Zacks sector at 19.6x and the S&P 500 at 22.2x. 

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With shares at $22.94 and a $24 price target tied to a 16.2x forward 12-month earnings multiple, the setup is about whether recent execution can hold long enough to justify a slightly higher multiple. 

NVST Valuation Setup Using the Report’s MultiplesThe market is assigning Envista 15.1x forward 12-month earnings. That level sits close to the sub-industry’s 14.9x, implying investors are not yet paying up for a decisive re-rating. At the same time, the discount to the sector (19.6x) and the S&P 500 (22.2x) suggests expectations remain restrained. 

The $24 price target is anchored to a 16.2x forward 12-month earnings multiple, which is only modestly above today’s trading level. Put differently, the upside case is not dependent on a big multiple expansion. It depends on Envista sustaining the operating improvements now showing up in results.

Envista Price Performance Context and What It Can MisleadEnvista shares are up 5.7% year to date and up 22.3% over the past year. That performance looks more constructive when set against a weak peer backdrop: the Zacks sub-industry is down 25.2% year to date and down 30.9% over the past year, while the Zacks Medical sector is down 6.6% year to date and up 2.7% over the past year. 

Benchmark dispersion matters because multiples are forward-looking reflections of market expectations. A sub-industry drawdown can compress peer multiples even if fundamentals differ, while a more resilient sector line can keep sector-level valuations elevated. Against that backdrop, Envista’s near-sub-industry multiple reads less like “cheapness” and more like a market that wants proof the recent momentum is repeatable.

NVST Earnings Power: What Q1 2026 RevealedThe first quarter of 2026 showed meaningful profit acceleration alongside solid top-line growth. Revenue was $705.5 million, up 14.4% year over year. Adjusted diluted earnings per share were $0.36, up 50% year over year, while GAAP diluted earnings per share were $0.23. 

The quality of the improvement matters. Adjusted gross margin expanded 100 basis points to 55.8%, supported by volume, price, productivity and favorable foreign exchange. Operating expenses also grew more slowly than revenue, with selling, general and administrative expenses up 9.5% to $297.6 million, even as research and development spending rose 18.6% to $30.0 million. 

NVST 2026 Outlook: What Must Go RightManagement maintained its full-year 2026 outlook for core sales growth of 2% to 4%. The Zacks Consensus Estimate calls for $2.86 billion of revenue, implying 5.1% growth from the year-ago reported figure. That gap sets up a clear “meet the bar” framework: the market will watch whether reported results can track closer to consensus while still fitting inside the company’s core-sales lens.

Earnings expectations are similarly defined. Adjusted diluted earnings per share are expected to be between $1.35 and $1.45, while the Zacks Consensus Estimate is $1.43. With the stock priced off forward earnings, execution against that range is a key driver of whether the multiple holds.

Envista Rating Lens for Near-Term Decision MakersFor investors using a shorter time horizon, the Zacks Rank provides the primary signal. Envista currently carries a Zacks Rank #3 (Hold). The Style Scores show what the model is rewarding: VGM is B, with Value at B, Growth at C and Momentum at B. 

That mix fits the current setup. The Value and Momentum profile aligns with a stock that has improved and is not priced like a sector leader, while the weaker Growth score reflects the need for continued follow-through in demand, share gains and operating leverage.

Based on short-term price targets offered by 13 analysts, the average price target of $29.85 represents an increase of 30.12% from the last closing price.

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NVST Checklist: What Would Change the MultipleA practical catalyst list starts with tariffs. Tariff costs increased $11 million year over year in the first quarter, but were offset by supply chain, general and administrative, and pricing initiatives. Sustained offsetting through pricing and productivity is central to protecting margins as similar quarterly levels are anticipated through 2026. 

Next is adoption. Recent launches include the Nobel S Series in implants, the Spark clear aligner launch in Japan, and DEXIS software enhancements adding artificial intelligence-driven workflow and diagnostics tools. Progress in China implants is also key, with uncertainty tied to expected volume-based procurement timing that management expects to begin between the second and third quarters. 

What could break the thesis is straightforward: weaker-than-expected traction for new products and software, higher tariff drag that outpaces mitigation, or macro softness that slows dental utilization and purchasing cycles. 

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

Key Takeaways Envista posted positive growth across major businesses, led by double-digit gains in developed markets.NVST expanded margins via EBS benefits, offsetting higher tariff costs with pricing and efficiency actions.NVST's Spark launched in Japan, while China policy uncertainty and FX swings remain key challenges. Envista Holdings Corporation’s (NVST - Free Report) ongoing international expansion is strengthening its presence across a broader range of markets, creating significant opportunities for long-term growth. Supported by the company’s strategic priorities and growth-focused initiatives, it is well positioned to capitalize on emerging opportunities and deliver solid operational and financial performance in the upcoming quarters. Yet, a dull macroeconomic scenario and competitive pressure raise concerns for Envista’s operations.

Over the past year, this Zacks Rank #3 (Hold) stock has gained 21.5%, outpacing the industry’s decline of 29%. The S&P 500 composite has grown 26.8% in the same time frame.

The leading optical retailer has a market capitalization of $4.08 billion. The company’s earnings yield of 6.1% is well ahead of the industry’s 3.1%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 15.4%.

Tailwinds for NVSTInternational Reach and Channel Expansion: Developed markets were the key growth engine in first-quarter 2026, with North America and Europe both delivering double-digit gains. Developing markets are growing in the high single digits, excluding softness in China tied to policy uncertainty. 

The Spark launch in Japan adds a new growth vector in a sizable aligner market where the company already has strong orthodontic relationships, creating a cross-sell opportunity into clear aligners. 

Management also highlighted continued progress with dental support organizations (DSOs) and clinician education initiatives as key drivers of deeper market penetration. Envista’s broad geographic footprint and extensive channel presence, combined with targeted investments in customer support and clinical training, position the company to continue gaining market share as conditions normalize across its end markets.

Progress With Strategic Priorities: Envista’s strategy is centered on three priorities: growth, operations and people. The company’s growth agenda is supported by four key pillars. In the first quarter of 2026, all major businesses delivered positive growth, with core revenue increasing 8.4% in the Specialty Products & Technologies segment and 11.5% in the Equipment & Consumables segment.

To sustain market-share gains, Envista has continued to invest in sales and marketing as well as research and development, with spending in both areas rising at a double-digit rate. New product introductions remain a key growth driver. Recent launches include the Nobel S Series implant system, the introduction of Spark clear aligners in Japan and enhancements to DEXIS software that incorporate AI-powered workflow and diagnostic capabilities.

The Envista Business System (“EBS”) continued to deliver broad-based operational benefits, supporting gross margin expansion of 100 basis points and adjusted EBITDA margin growth of 120 basis points. Tariff costs increased $11 million from the prior year but were offset by supply chain, G&A and pricing initiatives.

With respect to its third strategic priority, people, Envista continues to strengthen its culture of continuous improvement, supported by ongoing gains in employee engagement and talent development. The company also extended its social impact through the Envista Smile Project, serving approximately 3,700 patients.

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Concerns for NVSTMacro and Policy Headwinds: Management continues to flag global economic uncertainty alongside geopolitical volatility, which can weigh on dental utilization and purchasing cycles. China remains a source of uncertainty for the implants business as channel partners continue to adjust inventory levels ahead of the anticipated volume-based procurement (VBP) process, which management expects to begin between the second and third quarters.

Tariffs also remain a cost headwind. First-quarter 2026 adjusted EBITDA reflected an $11 million year-over-year increase in tariff costs, with similar quarterly levels anticipated through 2026. While first-quarter profitability improved, these external pressures could limit operating leverage and introduce variability across quarters.

Foreign Exchange and Global Exposure: Envista's international footprint is not only a growth asset but also a risk factor. In the first quarter of 2026, 52.7% of revenues came from customers outside the United States, exposing sales, margins, and cash flow to currency fluctuations and regional demand variability. 

While balance-sheet hedging has reduced quarter-to-quarter volatility compared with the prior year, foreign exchange movements continue to affect performance and can influence reported results. In addition, regional disruptions, including conflicts in the Middle East and evolving conditions in China, add complexity to planning and may at times offset strength in developed markets.

NVST Stock Estimate TrendThe Zacks Consensus Estimate for 2026 earnings per share (EPS) has moved north at $1.42 over the past 30 days.

The Zacks Consensus Estimate for 2026 revenues is pegged at $2.86 billion, suggesting a 5.2% increase from the year-ago reported number.

Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Integra LifeSciences (IART - Free Report) and Phibro Animal Health (PAHC - Free Report) . 

Globus Medical has an earnings yield of 5.5%, well ahead of the industry’s negative 3% yield. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.3%. The company’s shares have rallied 43.8% against the industry’s 4.8% decline over the past year.

GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Integra LifeSciences, carrying a Zacks Rank #2 (Buy) at present, has an earnings yield of 16% against the industry’s negative 3% yield. Shares of the company have gained 22.8% compared with the industry’s 4.8% growth. IART’s earnings topped estimates in each of the trailing four quarters, the average surprise being 16.8%.

Phibro Animal Health, carrying a Zacks Rank #2 at present, has an earnings yield of 9.2% compared with the industry’s 2.8% yield. Shares of the company have climbed 43.1% against the industry’s 27.9% decline. PAHC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 16.3%.