Davis joins the company as CEO-elect on November 2, stepping into a role occupied by Joseph Hogan since 2015. Hogan is slated to retire from the board following a strategy meeting in June. Align is banking on Davis’s extensive background in oral and personal health to drive the growth of its flagship Invisalign brand.
The leadership transition follows a strong financial quarter for the firm. Align posted a profit of $135 million, or $1.90 per share, marking a significant increase from the $56.8 million, or 78 cents per share, reported during the same period last year. Adjusted earnings reached $2.80 per share, edging past the $2.77 analyst consensus tracked by FactSet. Quarterly revenue rose 1.9% to $1.01 billion, slightly exceeding market expectations.
Capital allocation remains a priority for the company. Having finalized a $200 million share repurchase plan earlier this month, Align holds $630 million in remaining capacity under its current $1 billion authorization. Management expects to deploy up to $300 million toward stock buybacks in the fourth quarter.
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