Financial Data and Key Metrics Changes - The company reported net sales of $1.889 billion, reflecting a 3.2% increase on a reported basis and a 4.4% increase excluding foreign currency impact [18] - GAAP diluted earnings per share (EPS) was $0.84 compared to $1.11 in the prior year, while adjusted diluted EPS was $1.94 compared to $1.89 in the prior year [21] - Adjusted gross margin was 72.9%, driven by higher manufacturing costs offset by better pricing and lower royalties [22] - The adjusted operating margin was 28.6%, slightly ahead of the prior year, driven by higher sales and lower SG&A related to the restructuring program [51] Business Line Data and Key Metrics Changes - Global Knee sales grew 4.3%, with U.S. growth at 2.2% and international growth at 7.3%, driven by the Persona product portfolio and ROSA Robotic Platform [19] - The S.E.T. category grew 5.3%, led by key focus areas of CMFT, upper extremities, and sports, growing on average about low double digits [20] - Global Hips grew 1.5%, with U.S. growth at 1% and international growth at 2% [48] - The Other category grew 12.2%, driven by strong ROSA sales, although growth is expected to moderate as the year progresses [49] Market Data and Key Metrics Changes - U.S. growth was 3.7% and international growth was 5.4%, with EMEA showing stronger-than-expected growth [47] - The company faced a selling day headwind of about 200 basis points that impacted all regions and product categories [18] Company Strategy and Development Direction - The company is focused on three strategic priorities: people and culture, operational excellence, and innovation and diversification [12][40] - The company plans to introduce over 40 new products in the next 24 to 36 months, with a strong pipeline that has twice the dollar value compared to 2018 [81][82] - The company aims for mid-to-high single-digit adjusted earnings growth while ensuring free cash flow grows faster than earnings [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 5% to 6% constant currency revenue growth for 2024, with adjusted operating margin expansion and over $1 billion in free cash flow [17][24] - The company noted that the end markets remain healthy, driven by high levels of patient demand and technological advancements [4] - Management highlighted the positive pricing dynamics, reporting flat pricing in the quarter compared to previous years' price erosion [39][71] Other Important Information - The company is undergoing a restructuring program that has been implemented with no major disruptions, resulting in cost savings and increased operational agility [5] - The company is actively searching for a new Head of Investor Relations following the departure of Keri Mattox [16] Q&A Session Summary Question: Long-term growth algorithm and Q2 expectations - Management indicated that the long-term growth algorithm includes 5% to 6% revenue growth, potential margin expansion, and low double-digit EPS growth, but emphasized that this is not a base case [30][34] - Regarding Q2, management noted that selling days would provide a tailwind, but they would not provide specific quarter-over-quarter guidance [32] Question: Drivers of revenue growth - Management stated that new product introductions are the primary driver of revenue growth, with a pipeline of 40 new products expected over the next 24 to 36 months [31] Question: Pricing environment - Management reported that pricing was flat in Q1, a significant improvement from previous years' price erosion, and they expect pricing dynamics to remain favorable [71][74] Question: M&A strategy - Management expressed a preference for smaller tuck-in acquisitions under $2 billion that are EPS neutral within two years, while also being open to larger deals if they meet strategic and financial criteria [15][102] Question: ROSA Shoulder launch outlook - Management expressed excitement about the ROSA Shoulder launch, noting positive initial feedback and expectations for significant impact as the year progresses [138]

Zimmer Biomet Holdings, Inc. (ZBH) posted first-quarter 2024 adjusted earnings per share (EPS) of $1.94, exceeding the Zacks Consensus Estimate by 3.7%. The adjusted figure increased 2.6% year over year.The quarter’s adjustments included certain amortization, restructuring and other cost reduction initiatives and European Union Medical Device Regulation-related charges, among others.On a reported basis, the company registered earnings of 84 cents per share, which reflected a 24.3% decline from the year-ago ...

For the quarter ended March 2024, Zimmer Biomet (ZBH) reported revenue of $1.89 billion, up 3.2% over the same period last year. EPS came in at $1.94, compared to $1.89 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.87 billion, representing a surprise of +1.16%. The company delivered an EPS surprise of +3.74%, with the consensus EPS estimate being $1.87.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

Zimmer Biomet (ZBH) came out with quarterly earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.87 per share. This compares to earnings of $1.89 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.74%. A quarter ago, it was expected that this orthopedic device maker would post earnings of $2.15 per share when it actually produced earnings of $2.20, delivering a surprise of 2.33%.Over the last four quarters, t ...

345 E. Main St. Warsaw, IN 46580 www.zimmerbiomet.com Exhibit 99.1 Heather Zoumas-Lubeski Zach Weiner (445) 248-0577 (908) 591-6955 heather.zoumaslubeski@zimmerbiomet.com zach.weiner@zimmerbiomet.com Media Investors Zimmer Biomet Announces First Quarter 2024 Financial Results (WARSAW, IN) May 2, 2024 — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter ended March 31, 2024. The Company reported first quarter net sales of $1.889 billion, an increase of 3.2% over ...

In its upcoming report, Zimmer Biomet (ZBH) is predicted by Wall Street analysts to post quarterly earnings of $1.88 per share, reflecting a decline of 0.5% compared to the same period last year. Revenues are forecasted to be $1.87 billion, representing a year-over-year increase of 2.2%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during th ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Zimmer Biomet (ZBH) , which belongs to the Zacks Medical - Products industry, could be a great candidate to consider.This orthopedic device maker has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 3.05%.For the last reported quarter, Zimmer came o ...

Zimmer Biomet Holdings, Inc. (ZBH) is scheduled to report first-quarter 2024 results on May 2, before market open.In the last reported quarter, the company’s earnings of $2.20 exceeded the Zacks Consensus Estimate by 2.3%. Over the trailing four quarters, its earnings outperformed the consensus estimate on three occasions and matched the same once, the average beat being 4.99%.Let’s take a look at how things have shaped up prior to this announcement.Factors at PlayLike its industry competitors, Zimmer Biome ...

-- Zimmer Biomet Brings Joint Health Education and the Importance of Movement to America's Fastest-Growing Sport, Engaging the 48.3 Million Players, Fans of the Sport, and Raising Awareness as a Trusted Partner for Joint Replacement-- WARSAW, Ind., April 4, 2024 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced partnerships with three top pickleball organizations in the United States, becoming the first and only medical device partner for t ...

WARSAW, Ind., April 3, 2024 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today announced its first quarter earnings conference call will be webcast on Thursday, May 2, 2024 at 8:30 a.m. ET. A news release detailing the quarterly results will be made available that day at 6:30 a.m. ET. The live audio webcast can be accessed via Zimmer Biomet's Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the conference call. Individuals in the ...