- 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 adjusted1 earnings 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.”
Aligned with the ongoing transformation of Zimmer Biomet’s business, key recent highlights include:
- Appointment of Ivan Tornos as President and Chief Executive Officer and expansion of Chief Financial Officer Suketu (Suky) Upadhyay’s role to CFO and EVP, Finance, Operations & Supply Chain as part of Zimmer Biomet’s increased focus on innovation and commercial execution
- Key updates to the Zimmer Biomet Executive Leadership Team, including promotions of Wilfred van Zuilen to Group President, EMEA and Mark Bezjak to President of the Americas, as well as the appointment of Chief Science, Technology and Innovation Officer Nitin Goyal, M.D. to the Executive Leadership Team
- Enrollment of 100,000 patients since launch on the mymobility® care management platform, which provides a guided orthopedic patient experience, with automation, data and insights for clinicians
- Continued recognition for our Environmental, Social and Governance (ESG) programs with inclusion in the Newsweek Americas Greenest Companies 2024 and the Sustainability Magazine Top 10: Sustainable Healthcare Device Companies lists
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.