Orthopedic Implant Maker Zimmer Biomet Reports Better-Than-Expected Q3 Earnings, Updates Annual Forecasts
Portfolio Pulse from Vandana Singh
Zimmer Biomet Holdings, Inc. reported better-than-expected Q3 earnings with adjusted EPS of $1.74 and sales of $1.82 billion, beating consensus estimates. The company updated its 2024 guidance, slightly lowering EPS expectations and revenue growth forecasts. Despite ERP challenges, Zimmer Biomet plans to launch the Z1 Femoral Hip System in 2024.
October 30, 2024 | 4:04 pm
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Zimmer Biomet reported Q3 earnings that exceeded expectations, with sales of $1.82 billion and adjusted EPS of $1.74. The company slightly lowered its 2024 EPS and revenue growth guidance. Despite ERP challenges, Zimmer Biomet plans to launch the Z1 Femoral Hip System in 2024.
Zimmer Biomet's Q3 earnings exceeded expectations, which is positive for the stock. The slight downward adjustment in 2024 guidance may temper some enthusiasm, but the upcoming product launch of the Z1 Femoral Hip System is a positive development. The stock's current upward movement reflects investor optimism.
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