Categories Earnings, Health Care

Earnings Summary: A snapshot of Zimmer Biomet Holdings’ Q3 2023 results

Medical technology company Zimmer Biomet Holdings, Inc. (NYSE: ZBH) on Tuesday reported an increase in third-quarter sales and adjusted profit.

  • Third-quarter net sales increased 5% year-over-year to $1.75 billion; on a constant currency basis, the growth was 4.7%
  • Revenues increased 6% annually in the United States, while international revenues moved up 3.6%
  • Net income came in at $162.7 million or $0.77 per share in the September quarter, compared to $194 million or $0.92 per share a year earlier
  • On an adjusted basis, Q3 profit increased to $1.65 per share from $1.58 per share in the prior-year period
  • The company said it appointed Ivan Tornos as the president and chief executive officer
  • The management expects reported revenue to grow in the range of 6.0% to 6.5% in fiscal 2023

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