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Diversey Holdings (NASDAQ: DSEY) reported a 10.0% increase in net sales for Q2 2022, reaching $715.3 million, with a 20.6% growth in constant currency. However, the company experienced a net loss of $34.2 million, significantly up from $1.3 million the previous year. Adjusted EBITDA fell to $88.4 million, down 12.7% YoY, with margins also declining. Diversey reaffirmed its full-year revenue growth of high single digits but lowered its Adjusted EBITDA outlook to $350-$390 million due to currency pressures. The outlook for Q3 anticipates revenues between $680-$720 million.
Diversey Holdings, Ltd. (NASDAQ: DSEY) released a study indicating that commonly used Powered Air-Purifying Respirators (PAPRs) are compatible with certain disinfectants, showing low risk of damage even after extensive use. Conducted by their Global Infection Prevention Application Experts, the study emphasizes the importance of routine cleaning and disinfection to protect healthcare workers, especially during the COVID pandemic when single-use masks were scarce. The findings were published in the Journal of Occupational and Environmental Hygiene, reinforcing Diversey's commitment to hygiene and infection prevention.
Diversey Holdings, Ltd. (NASDAQ: DSEY) announced the release of its second quarter 2022 financial results scheduled for August 4, 2022, before market open. The management will hold a webcast and conference call at 8:30 am ET on the same day to discuss the results. An audio replay will be available shortly after the call until August 18, 2022. Diversey provides hygiene and cleaning solutions and has been a trusted brand for over 95 years.
Diversey Europe Operations B.V. (NASDAQ: DSEY) announced a rise in its energy surcharge from 7% to 11.8%, effective July 1, 2022, as a response to ongoing energy price inflation impacting its Institutional business in Europe. Despite efforts to optimize energy usage and mitigate operational costs, the increase aligns with the energy index due to sustained price pressures. This adjustment aims to maintain Diversey's commitment to delivering quality hygiene and infection prevention solutions. Representatives will contact customers to discuss the surcharge's implications.
Diversey Europe Operations BV (NASDAQ: DSEY) won a Bronze Award at the 2022 Middle East & North Africa Stevie® Awards for its Effective Leaders Training Program. Launched during the pandemic, this initiative aimed to enhance the leadership skills of managers across 20 countries. The program included theoretical modules and hands-on training, facilitated by over 220 leaders. The awards recognized innovation across various industries, with over 700 nominations evaluated by a panel of 100 professionals. The winners were honored on May 21 at Waldorf Astoria, UAE.
Diversey Holdings reported a 4.5% increase in net sales year-over-year, reaching $660 million in Q1 2022. The Food and Beverage segment saw impressive growth at 14.8%, while Institutional sales grew 0.9%. Despite this, the company posted a net loss of $39.7 million, with adjusted EBITDA at $60.3 million, a decline of 35% from the previous year. The company reaffirmed its full-year adjusted EBITDA outlook of $380 to $420 million. Management highlighted ongoing pricing strategies to combat inflationary pressures and expressed cautious optimism for continued revenue growth throughout the year.
On May 5, 2022, Diversey Holdings, Ltd. (NASDAQ: DSEY) announced that CEO Phil Wieland and CFO Todd Herndon will participate in a fireside chat at the Barclays Americas Select Franchise Conference on May 11, 2022. The event will commence at 9:00 a.m. Eastern Time and will be webcast live. Investors can access the live stream and replay via the Diversey Investor Relations website. Diversey is dedicated to providing hygiene and infection prevention solutions, aiming to protect lives and the environment through innovative products and services.
Diversey Holdings, Ltd. (NASDAQ: DSEY) announced it will release its first quarter 2022 financial results on May 10, 2022, before market open. A conference call will follow at 8:30 am ET the same day to discuss the results. Interested participants can join via toll-free or international dialing. An audio replay will be available shortly after the call until May 24, 2022. Diversey is committed to providing hygiene and cleaning solutions, emphasizing product quality and innovation over its 95-year history.
Diversey Holdings, Ltd. (NASDAQ: DSEY) announced an energy surcharge effective April 15, 2022, ranging from 8% to 15% to offset rising energy, gas, and oil prices. The increase is necessary due to inflated costs resulting from high energy prices affecting raw materials and manufacturing processes. Diversey is implementing measures such as energy reduction in operations and inventory optimization to mitigate these effects. The company aims to support its customers with cost management strategies, ensuring smooth operations and adherence to its mission in hygiene and infection prevention.
Diversey Holdings, Ltd. (NASDAQ: DSEY) announced the appointment of Eric Foss as Chairman of the Board, effective March 17, 2022. He succeeds Selim Bassoul, who will remain a Director.
Foss, a Director since Diversey’s IPO in March 2021, has led Fortune 200 companies, including Aramark and Pepsi. He is recognized for driving growth and sustainable shareholder value. Foss expressed enthusiasm for continuing to work with the team to enhance growth and long-term value for all stakeholders.
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