Loading...
•
Sep 30, 2023
ZimVie Q3 2023 Earnings Report
ZimVie's Q3 2023 performance was marked by progress in innovation and portfolio reshaping, alongside efforts to enhance operating efficiency and cash position.
Key Takeaways
ZimVie reported third-party net sales of $202.9 million, a decrease of 4.9% compared to the third quarter of 2022. The company experienced a net loss of $5.1 million, with a diluted EPS of ($0.19). Adjusted diluted EPS was $0.08. The company's cash and cash equivalents totaled $75.4 million as of September 30, 2023.
Third party net sales reached $202.9 million, a decrease of 4.9% year-over-year.
Net loss amounted to $5.1 million, with a net loss margin of (2.5%).
Diluted EPS was ($0.19), while adjusted diluted EPS was $0.08.
Cash and cash equivalents totaled $75.4 million at the end of the quarter.
ZimVie
ZimVie
Forward Guidance
ZimVie provided an update to its annual guidance for the year ending December 31, 2023, maintaining net sales expectations between $860 million and $870 million and adjusted EBITDA margin between 13.5% and 14.0%. Adjusted EPS guidance was narrowed to a range of $0.60 to $0.70.