Zimmer Biomet Holdings Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Zimmer Biomet Holdings Inc. (ZBH) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $172.4 million, or $0.84 per share. This compares with $232.5 million, or $1.11 per share, in last year's first quarter.

Excluding items, Zimmer Biomet Holdings Inc. reported adjusted earnings of $399.7 million or $1.94 per share for the period.

Analysts on average had expected the company to earn $1.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.3% to $1.89 billion from $1.83 billion last year.

Zimmer Biomet Holdings Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $172.4 Mln. vs. $232.5 Mln. last year. -EPS (Q1): $0.84 vs. $1.11 last year. -Revenue (Q1): $1.89 Bln vs. $1.83 Bln last year.

-Guidance: Full year EPS guidance: $8.00 - $8.15