Earnings release
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Envista Investor Relations Envista Reports Third Quarter 2021 Results BREA , Calif . , Nov. 3 , 2021 / PRNewswire / -- Envista Holdings Corporation ( NYSE : NVST ) today announced results for the third quarter 2021 . As previously disclosed , in September we reached an agreement to sell our KaVo Treatment Unit and Instrument business ( the " Divestiture " ) . We expect this transaction to close by the end of the year . For the current quarter the results of the Divestiture are reflected as discontinued operations in our financial statements as required by generally accepted accounting principles . All commentary in this release relates to continuing operations unless otherwise noted . For the quarter ended October 1 , 2021 , sales increased 11 % to $ 607.3 million with core sales growth of 10.2 % over the third quarter 2020 . For the third quarter , net income was $ 80.2 million or $ 0.45 per diluted share . Adjusted net income was $ 79.4 million , representing a 22 % increase year over year . Adjusted earnings per diluted share was $ 0.45 vs. $ 0.40 in the comparable period in 2020. Adjusted EBITDA for the third quarter was $ 119.1 million compared to $ 111.4 million for the third quarter of 2020 . Amir Aghdaei , Chief Executive Officer , remarked , " We grew significantly above pre - pandemic levels and delivered double - digit core growth over 2020 as we continued to benefit from the reshaping of our portfolio and our long - term investments in both commercial execution and innovation . Our adjusted EBITDA margin was 19.6 % reflecting the underlying profitability of our business and our focus on continuous improvement . " Mr. Aghdaei continued , " We are very pleased with our third quarter results and remain optimistic about the future the dental industry . Since our IPO in September 2019 , we have made significant progress in transforming our business from a broad mix of dental products to a focused company providing highly differentiated consumables and specialty dental products underpinned by strong digital workflow solutions . We remain committed to our purpose of partnering with professionals to improve patients ' lives and will continue to work to personalize , digitize , and democratize dental care . " 2021 Full Year Guidance We are raising our financial guidance for continuing operations for the year as follows : Sales $ 2.475 $ 2.500 Billion Adjusted EBITDA $ 480 $ 495 Million Envista will discuss its quarterly results and provide an outlook for 2021 during an investor conference call today starting at 2:00 P.M. PT . The call and an accompanying slide presentation will be webcast on the " Investors " section of Envista's website , www.envistaco.com , under the subheading " Events & Presentations . " A replay of the webcast will be available in the same section of Envista's website shortly after the conclusion of the presentation and will remain