Zimmer Biomet Reduces, And Narrows Full Year Outlook Range - Update

(RTTNews) - (Adds Outlook)

Zimmer Biomet Holdings, Inc. (ZBH) updated full-year 2024 financial guidance to reduce and narrow previous projected ranges for revenue growth and adjusted EPS. Adjusted EPS is now expected in a range of $7.95 - $8.05, revised from prior guidance range of $8.00 - $8.15. Reported revenue is anticipated to rise 3.5% - 4.0%, updated from previous guidance range of 4.0% - 5.0%.

Q3 Results:

The company's earnings came in at $249.1 million, or $1.23 per share. This compares with $162.7 million, or $0.77 per share, in last year's third quarter. Excluding items, adjusted earnings was $1.74 per share compared to $1.65. Analysts on average had expected the company to earn $1.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter rose 4.1% to $1.82 billion from $1.75 billion last year.

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