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Envista Holdings Corporation (NVST-2.49%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Envista's operations, which include two business segments: Specialty Products & Technologies and Equipment & Consumables. The company reported total sales of $2.51 billion for 2024, a decrease from $2.57 billion in 2023.
The Specialty Products & Technologies segment reported sales of $1.62 billion, a decrease from $1.64 billion in the previous year. The Equipment & Consumables segment reported sales of $894.2 million, down from $924.1 million.
Envista recorded a goodwill and intangible asset impairment charge of $1.15 billion in 2024, primarily due to adverse macroeconomic factors affecting future cash flow expectations and a sustained suppressed stock price.
The company reported a net loss of $1.12 billion for 2024, compared to a net loss of $100.2 million in 2023. The loss was significantly impacted by the impairment charges.
Envista's cash and cash equivalents increased to $1.07 billion as of December 31, 2024, from $940 million at the end of 2023.
The company continues to focus on its strategic priorities, including growth through commercialization, clinical education, and innovation, as well as operational improvements and talent development.
Envista's management discussed the impact of global economic conditions, including inflation, interest rates, and geopolitical factors, on its operations and financial performance.
The filing also highlights Envista's efforts in managing risks related to cybersecurity, regulatory compliance, and market competition.
Envista's board of directors and management continue to oversee the company's strategic initiatives and risk management processes, ensuring alignment with its long-term goals.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Envista Holdings Corporation annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.