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Mar 31, 2022
Zimmer Biomet Q1 2022 Earnings Report
Zimmer Biomet reported better-than-expected results in Q1 2022, driven by COVID recovery and continued execution.
Key Takeaways
Zimmer Biomet's Q1 2022 net sales from continuing operations were $1.663 billion, a 3.9% increase over the prior year and a 6.8% increase on a constant currency basis. Diluted earnings per share from continuing operations were $0.35, and adjusted diluted earnings per share were $1.61. The company updated its 2022 financial guidance, raising and tightening the range for the full-year outlook.
Net sales from continuing operations increased by 3.9% to $1.663 billion.
Net earnings were $73.0 million, or $337.4 million on an adjusted basis.
Diluted earnings per share were $0.35, with adjusted diluted earnings per share at $1.61.
The company completed the spinoff of ZimVie Inc. on March 1, 2022.
Revenue by Segment
Forward Guidance
The Company is updating its full-year 2022 financial guidance to raise and tighten its previous projected ranges for revenue growth, foreign currency exchange impact and adjusted diluted EPS from continuing operations.
Positive Outlook
- 2022 Reported Revenue Change between -1.5% and 0.5%
- Adjusted Operating Profit Margin between 26.5% and 27.5%
- Adjusted Tax Rate between 16.0% - 16.5%
- Adjusted Diluted EPS from Continuing Operations between $6.65 and $6.85
Challenges Ahead
- Foreign Currency Exchange Impact of -3.5%
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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