DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Q3 2023 Earnings Call Transcript

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So let me deal with the second piece first. We have invested heavily in rebuilding relationships through our clinical education programs this year. We had a World Implant Symposium in Turkey earlier this year with over 450 — sorry, Athens, Greece earlier this year, with over 450 people attending. We just had another group of Polish clinicians in Warsaw. Warsaw attend an implants session. We continue to reinvest in rebuilding our relationship with implantologists through education. And then on the sales force capability, clinical capability side of things, the turnover that we’ve experienced in our implant sales force over the past number of years has whittled the capability of that group down. And I think it’s around 50% over about 12 months of tenure, including the new people that we brought on.

We are training them heavily. We had a second or third training with those — that team in May. And I think it’s beginning to resonate. The challenge has been is that the accounts that we’ve lost, their volume is pretty significant. And as we bring on new accounts, it’s not enough right now to offset those volume losses. However, we just had a complete business review where we went through every sales manager in the U.S. And there are a lot of green shoots in terms of engagement with not only the implantologists, but also their referral network as well. So for sure, it’s taking longer than we would have hoped, but we are investing in the capability of our team. We’re investing in rebuilding relationships with our customers and their network.

And we’re investing in customer education, which are the main things that came out from our survey.

Operator: And I’m showing no further questions at this time. I would now like to turn the conference back to Simon Campion for closing comments.

Simon Campion: Thank you, everyone, for your attendance on today’s call. I would like to reiterate some key points before we close. Firstly, we remain intently focused on driving value for all stakeholders through innovation and execution. Secondly, while the macro environment is uncertain, we see bright spots in the business and maintain our confidence in improving execution, which we believe will position us better to navigate external challenges. And thirdly, we look forward to hosting our first Investor Day next week, and I encourage you all to join us as we share details about our strategy and long-term plans. We will continue to prudently act in the best interest of the company and our stakeholders, including our investors, patients, customers and employees.

And finally, on behalf of the management team, I want to thank all Dentsply Sirona employees for their dedication to the business and the necessary transformation work that is underway. And we especially want to express our thanks to employees who have departed the organization in the last quarter and wish them all well in the next phase of their careers.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.

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