Zimmer Biomet Announces Third Quarter 2023 Financial Results

  • Third quarter net sales of $1.754 billion increased 5.0% and 4.7% on a constant currency1 basis
  • Third quarter diluted earnings per share were $0.77; adjusted1 diluted earnings per share were $1.65
  • The Company updates 2023 reported revenue guidance due to currency expectations and reaffirms 2023 constant currency revenue growth and adjustedearnings per share financial guidance

WARSAW, Ind., Nov. 7, 2023 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter ended September 30, 2023.  The Company reported third quarter net sales of $1.754 billion, an increase of 5.0% over the prior year period, and an increase of 4.7% on a constant currency1 basis.  Net earnings for the third quarter were $162.7 million, or $346.5 million on an adjusted1 basis.

Diluted earnings per share were $0.77 for the third quarter, and adjusted1 diluted earnings per share were $1.65. 

1.Reconciliations of these measures to the corresponding U.S. generally accepted accounting principles measures are included in this press release.

“We’re very pleased to report another Zimmer Biomet quarter with strong revenue growth and earnings per share.  Our team continues to successfully drive execution and growth, focusing on innovation to create value for the stakeholders we serve,” said Ivan Tornos, Zimmer Biomet’s President and Chief Executive Officer.  “As ZB’s new CEO, I’m more confident than ever in our team, our full year expectations for 2023 and that our solid growth – on both the top and bottom lines – will continue in 2024.”

Recent Highlights

Aligned with the ongoing transformation of Zimmer Biomet’s business, key recent highlights include:

Geographic and Product Category Sales

The following sales tables provide results by geography and product category for the three- and nine-month periods ended September 30, 2023, as well as the percentage change compared to the applicable prior year period, on both a reported basis and a constant currency basis.


Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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