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Jun 30, 2022
ZimVie Q2 2022 Earnings Report
ZimVie's third-party net sales reached $233.4 million, with a net loss of ($8.7) million and a diluted EPS of ($0.33).
Key Takeaways
ZimVie reported a decrease in third-party net sales by (11.5%) on a reported basis and (8.3%) on a constant currency basis compared to Q2 2021. The company's net loss increased to ($8.7) million, and diluted EPS was ($0.33). However, cash and cash equivalents increased to $130.1 million.
Third-party net sales were $233.4 million, a decrease of (11.5%) year-over-year.
Net loss was ($8.7) million, with a net loss margin of (3.7%).
Diluted EPS was ($0.33), and adjusted diluted EPS was $0.67.
Cash and cash equivalents totaled $130.1 million, up from $104.3 million at the end of Q1 2022.
Revenue by Geographic Location
Forward Guidance
ZimVie revised its full-year 2022 net sales guidance to $915 to $930 million and adjusted EPS guidance from $2.10-$2.30 to $1.80-$2.00, while reaffirming adjusted EBITDA margin guidance of flat to 50bps improvement from the prior year.
Positive Outlook
- Reaffirming adjusted EBITDA margin guidance of flat to 50bps improvement from prior year margin of 13.1%.
- Expect dental business to deliver near the lower end of prior mid to high single digit growth in constant currency
Challenges Ahead
- Revised net sales guidance to $915 to $930 million versus prior guidance of $1.0 billion due to greater than anticipated foreign exchange headwinds.
- Expect spine business to decline in the low double digits in constant currency.
- Revised adjusted EPS guidance from a range of $2.10 to $2.30 to $1.80 to $2.00 due primarily to lower sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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