Company News
Zimmer Biomet announces first quarter 2024 financial results
Zimmer Biomet Holdings, Inc. 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 the prior year period, and an increase of 4.4% on a constant currency basis. Net earnings for the first quarter were $172.4 million, or $399.7 million on an adjusted1 basis.
“We are very pleased with the execution, progress and strong performance the team delivered in the first quarter,” said Ivan Tornos, Zimmer Biomet’s President and Chief Executive Officer. “As we move forward, we are focused on continuing this momentum and delivering on our key priorities to advance people and culture, achieve operational excellence and drive innovation and diversification – all with the goal of delivering on our Mission.”
Geographic and product category sales
The following sales table provides results by geography and product category for the three-month period ended March 31, 2024, as well as the percentage change compared to the prior year period, on both a reported basis and a constant currency basis.
Financial guidance
The Company is reiterating its current full-year 2024 financial guidance.
| Projected year ending December 31, 2024 | |
| 2024 Reported Revenue Change | 4.5% – 5.5% |
| Foreign Currency Exchange Impact | (0.5) % |
| 2024 Constant Currency Revenue Change | 5.0% – 6.0% |
| Adjusted Diluted EPS | $8.00 – $8.15 |
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