Zimmer Biomet tops earnings estimates, reaffirms guidance

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Zimmer Biomet tops earnings estimates, reaffirms guidance
Credit: © Reuters.

WARSAW, Ind. - Zimmer Biomet Holdings, Inc. (NYSE: ZBH ) announced its first-quarter financial results, revealing a slight earnings beat and steady sales growth.

The company reported an adjusted earnings per share (EPS) of $1.94 for the quarter, surpassing the analyst consensus estimate of $1.87. First-quarter revenue reached $1.89 billion, also exceeding the consensus estimate of $1.87 billion and marking a 3.2% increase from the same quarter last year.

Zimmer Biomet's President and CEO, Ivan Tornos, expressed satisfaction with the company's performance, emphasizing the team's strong execution and progress. The company's focus remains on advancing its strategic priorities, which include people and culture, operational excellence, and driving innovation and diversification.

For the full year 2024, Zimmer Biomet reiterates its financial guidance, projecting an adjusted EPS range of $8.00 to $8.15, which aligns closely with the midpoint of the analyst consensus estimate of $8.05. This reaffirmation of the outlook reflects the company's confidence in its strategic initiatives and operational capabilities.

The stock movement following the earnings release was not applicable, indicating that the market's reaction to the financial results and guidance was neutral at the time of reporting. Despite the lack of significant stock movement, the company's ability to exceed analyst expectations for the quarter and maintain a steady full-year guidance suggests a stable financial trajectory.

Tornos highlighted the first quarter's achievements, stating, "We are very pleased with the execution, progress and strong performance the team delivered in the first quarter." He further emphasized the company's commitment to its mission and the strategic pillars designed to achieve it.

Investors and stakeholders can take note of Zimmer Biomet's consistent performance and adherence to its full-year financial targets as indicators of the company's operational stability and strategic focus.

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