Zimmer Biomet Updates FY24 Outlook: Affirms Adj EPS Guidance Of $8.00-$8.15 vs $8.09 Est; Lowers Sales From $7.73B-$7.80B To $7.69B-$7.76B vs $7.75B Est
Portfolio Pulse from Benzinga Newsdesk
Zimmer Biomet has updated its FY24 outlook, affirming its adjusted EPS guidance of $8.00-$8.15 but lowering its sales forecast from $7.73B-$7.80B to $7.69B-$7.76B. The company also adjusted its foreign currency exchange impact and reported revenue change.
August 07, 2024 | 10:42 am
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Zimmer Biomet has updated its FY24 outlook, affirming its adjusted EPS guidance of $8.00-$8.15 but lowering its sales forecast from $7.73B-$7.80B to $7.69B-$7.76B. The company also adjusted its foreign currency exchange impact and reported revenue change.
The affirmation of the adjusted EPS guidance is a positive signal, but the lowered sales forecast and increased negative impact from foreign currency exchange could offset this. The overall impact on the stock price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100