Zimmer Biomet Q2 Results Top Estimates

(RTTNews) - Zimmer Biomet Holdings Inc. (ZBH) reported that its second-quarter net loss was $206.6 million or $1.00 per share compared to net income of $133.7 million or $0.65 per share in the prior year.

Second quarter performance was negatively impacted by COVID-19, which reached a pandemic level in March and has resulted in a global decline in elective procedure volumes. The deepest decline in those procedures to-date was seen by the company in April 2020, with incremental improvement in May and June, the company said.

Adjusted earnings per share were $0.05 for the second quarter, a decrease of 97.4% from the prior year period. Analysts polled by Thomson Reuters expected the company to report a loss of $0.73 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.226 billion, a decrease of 38.3% from the prior year period, and a decrease of 38.0% on a constant currency basis. Analysts expected revenue of $909.41 million for the quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.