Envista Raises 2026 Earnings Outlook After Core Growth Cools

The Tip Desk · November 11, 2026 · 2 min read

Adjusted diluted earnings were $0.40 a share in the quarter ended October 2, 2026, as the dental-products company lifted full-year EPS guidance to $1.54–$1.58.

Envista Holdings Corporation (NVST) raised its full-year 2026 adjusted diluted earnings-per-share outlook to $1.54 to $1.58 after a third quarter in which core sales growth cooled to 2.7% and adjusted EBITDA margin reached 15.3%.

The dental-industry company, which unites more than 30 brands including DEXIS, Kerr, Nobel Biocare and Ormco, reported sales of $691.5 million for the three months ended October 2, 2026. Core sales growth of 2.7% followed 5.0% in the second quarter and 9.5% in the first.

GAAP results were dominated by a non-cash item. The company recognized a $428 million realized cumulative foreign currency translation gain, or $2.62 a share, from the dissolution of certain legal entities. That gain produced GAAP net income of $508 million and GAAP diluted earnings of $3.11 a share. The company said the gain had no cash impact and no effect on adjusted EBITDA, adjusted operating income, or adjusted diluted EPS.

On an adjusted basis, diluted earnings were $0.40 a share, up 25% from $0.32 a year earlier. Adjusted EBITDA was $106 million, with the 15.3% margin up 80 basis points from 14.5% a year earlier. Adjusted gross margin expanded 20 basis points year over year. Chief executive Paul Keel attributed the margin move to ongoing contributions from the Envista Business System.

Both reportable segments grew on a core basis. Specialty Products & Technologies posted 2.0% core sales growth on sales of $443.7 million, after 3.1% in the second quarter and 8.4% in the first. Equipment & Consumables posted 4.1% core sales growth on sales of $247.8 million, after 8.5% and 11.5%. Segment operating profit was $54.3 million in Specialty Products & Technologies and $62.3 million in Equipment & Consumables.

The company said it is updating 2026 guidance. Core sales growth is now expected at 3.75% to 4.25%, versus a prior range of 3.5% to 4.5%. Adjusted EBITDA growth is now 12.5% to 14%, versus 11% to 14%. Adjusted diluted EPS is $1.54 to $1.58, versus $1.50 to $1.55. Free cash flow conversion remains about 100%. Keel said year-to-date progress gives the company confidence to raise full-year earnings guidance once again.

Operating cash flow was $78 million and free cash flow was $63 million in the third quarter. The company repurchased 386 thousand shares for about $10 million, leaving approximately $273 million of remaining capacity under its stock repurchase program. Cash and cash equivalents were $1,158.8 million at October 2, 2026. Long-term debt was $1,429.0 million.