Zimmer Biomet Sees FY23 Profit In Line With View

(RTTNews) - Zimmer Biomet Holdings Inc. (ZBH) said it expects adjusted earnings per share to be in the range $6.95 - $7.15 and revenue growth of 1.5% - 3.5% for fiscal year 2023. Analysts polled by Thomson Reuters expect the company to report earnings of $6.98 per share for fiscal year 2023. Analysts' estimates typically exclude special items.

The company reported that its fourth quarter net loss widened to $130.5 million or $0.62 per share from $84.0 million or $0.40 per share last year.

Adjusted net earnings from continuing operations for the latest-quarter were $396.3 million or $1.88 per share.

Fourth quarter net sales from continuing operations were $1.825 billion, an increase of 2.7% over the prior year period, and an increase of 8.3% on a constant currency basis.

Analysts expected the company to report earnings of $1.83 per share and revenues of $1.76 billion for the fourth quarter.

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