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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.
Zimmer Biomet
Zimmer Biomet
Zimmer Biomet Revenue by Segment
Revenue by Segment
Knees Revenue
CapyFin.comHips Revenue
CapyFin.comS.E.T. Revenue
CapyFin.comTech/Data/Surgical Revenue
CapyFin.com 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