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Sep 30, 2022
ZimVie Q3 2022 Earnings Report
ZimVie's Q3 2022 financial performance was reported, with progress in dental and spine portfolios.
Key Takeaways
ZimVie reported third-party net sales of $213.3 million. Net income was $0.8 million, with a diluted EPS of $0.03. Adjusted EBITDA was $29.4 million. The company reaffirmed its full-year 2022 guidance for third-party net sales and adjusted EPS.
Third party net sales of $213.3 million
Net income of $0.8 million; net income margin of 0.4%
Diluted EPS of $0.03
Cash and cash equivalents of $116.0 million at September 30, 2022
ZimVie
ZimVie
Forward Guidance
ZimVie reaffirmed guidance for third party net sales of $915 to $930 million, with expectations for the dental business to deliver mid single digit growth in constant currency and the spine business to decline in the low double digits in constant currency. They are reaffirming adjusted EBITDA margin guidance of flat to 50bps improvement from prior year margin of 13.1%. They are reaffirming adjusted EPS guidance of $1.80 to $2.00.
Positive Outlook
- Dental business expected to deliver mid single digit growth in constant currency
- Reaffirming adjusted EBITDA margin guidance of flat to 50bps improvement from prior year margin of 13.1%.
- Reaffirming adjusted EPS guidance of $1.80 to $2.00.
Challenges Ahead
- Spine business to decline in the low double digits in constant currency