DENTSPLY SIRONA Inc. (XRAY Quick QuoteXRAY - Free Report) reported preliminary first-quarter 2022 adjusted earnings per share (EPS) of 52 cents. The Zacks Consensus Estimate for earnings is pegged at 50 cents. Going by this preliminary announcement, the bottom line declined 27.5% from the prior-year quarter.
 

Per the same announcement, GAAP EPS in the quarter was 30 cents, down 43.8% from the year-ago quarter.
 

The stock has lost 11.8% during the first-quarter period, compared with the industry’s decline of 2.2%.

Per the preliminary results, revenues in the quarter under review amounted to $965 billion, down 6.1% from the year-ago quarter. The consensus mark for revenues is pegged at $965.5 million.

Following are the preliminary segment results for the quarter under review:
 

Consumables
 

Consumable revenues fell 7.1% year over year and 2.7% on an organic basis in the first quarter to $400 million. Per management, the fall in organic sales was due to lower sales in the United States, the impact of COVID-19 variants on sales volumes in some markets, supply chain challenges and a tough comparison in the prior-year quarter on account of the COVID-19 rebound. However, increased pricing and demand for Endodontic Consumables partially offset the downside.

Technologies & Equipment revenues were down 5.4% year over year to $565 million in the reported quarter. On an organic basis, net sales fell 0.5%. Supply chain constraints and lower sales in the United States were responsible for the decline in organic sales. However, sustained growth in dentist-directed clear aligners and Implants partially offset the downside.

Per the preliminary announcement, in the United States, revenues fell 13.7% to $299 million. Rest of World revenues decreased 4.6% year over year to $250 million. European revenues declined 0.6% year over year to $416 million.

Per the preliminary results, gross profit in the reported quarter amounted to $515 million, down 11.1% on a year-over-year basis. Gross margin was 53.4%, contracting 300 basis points (bps).
 

Selling, general and administrative expenses were $374 million, down 2.1% from the year-ago quarter. Research and development expenses amounted to $45 million, up 12.5% from the prior-year quarter.
 

Operating profit was $93 million, down 39.6% from the year-ago quarter. Operating margin was 9.6%, contracting 530 bps on a year-over-year basis.

Per the preliminary announcement, DENTSPLY SIRONA exited the first quarter of 2022 with cash and cash equivalents of $374 million, up from $339 million sequentially.
 

According to the same announcement, net cash provided by operating activities at the end of the first quarter was $93 million compared with $49 million in the year-ago period.

Per the preliminary announcement, the company projects 2022 revenues within $4.1-$4.2 billion. The Zacks Consensus Estimate for the same is pegged at $4.23 billion. The outlook includes organic sales growth of 2-3%.
 

The company expects an adjusted EPS of $2.35-$2.55. The Zacks Consensus Estimate for the same stands at $2.60.
 

Adjusted operating margin is projected to exceed 17% in 2022.

Per the preliminary announcement, DENTSPLY SIRONA saw a deterioration in both earnings and revenues. Its core Technology & Equipment and Consumables units witnessed a year-over-year decline in the quarter. Contraction in both gross and operating margins is another headwind.
 

Nonetheless, the launch of a cloud-based solution and clear aligner solutions, along with meaningful partnership, deserve mention.

Currently, DENTSPLY SIRONA has a Zacks Rank #4 (Sell).
 

Some better-ranked stocks in the broader medical space that have announced quarterly results are Omnicell, Inc. (OMCL Quick QuoteOMCL - Free Report) , UnitedHealth Group Incorporated (UNH Quick QuoteUNH - Free Report) and Alkermes plc (ALKS Quick QuoteALKS - Free Report) .
 

Omnicell, carrying a Zacks Rank #2 (Buy), reported first-quarter 2022 adjusted EPS of 83 cents, which beat the Zacks Consensus Estimate by 16.9%. Revenues of $318.8 million outpaced the consensus mark by 0.7%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
 

Omnicell has an estimated long-term growth rate of 16%. OMCL's earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 13.4%.
 

UnitedHealth, carrying a Zacks Rank #2, reported first-quarter 2022 adjusted EPS of $5.49, which beat the Zacks Consensus Estimate by 1.7%. Revenues of $80.1 billion outpaced the consensus mark by 1.9%.
 

UnitedHealth has an estimated long-term growth rate of 14.8%. UNH's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 3.7%.
 

Alkermes reported first-quarter 2022 adjusted EPS of 12 cents, which beat the Zacks Consensus Estimate of a penny. First-quarter revenues of $278.6 million outpaced the Zacks Consensus Estimate by 6.2%. It currently sports a Zacks Rank #1.
 

Alkermes has an estimated long-term growth rate of 25.1%. ALKS' earnings surpassed estimates in each of the trailing four quarters, the average surprise being 350.5%.