Zimmer Biomet announces financial results from the first quarter of 2017

Zimmer Biomet Holdings Inc. announced its financial results for the first quarter of 2017.

According to a company release, the net sales for the first quarter were $1.98 billion, a 3.8% increase from the previous year period, and a 4.5% increase on a constant currency basis. For the quarter, the diluted earnings per share were $1.47, a 172.2% increase from the previous year period, and the adjusted diluted earnings per share were $2.13, a 6% increase.

“Zimmer Biomet delivered first-quarter revenue and adjusted earnings growth consistent with our expectations, as we positioned the company for sales acceleration in the second half of the year,” David Dvorak, president and chief executive officer of Zimmer Biomet, said in the release. “During the quarter, we made progress toward improving our global supply chain throughput, in concert with ongoing, focused investments to harmonize and optimize our global manufacturing and quality systems. We will continue driving these priorities as we progress through the balance of 2017, while leveraging our specialized sales channels and advancing the commercialization of differentiated clinical offerings.”

Net earnings for this quarter were reportedly $299.4 million, a 175.2% increase from the previous year period, and $433.4 million on an adjusted basis, which was a 6.4% increase from the previous year period. Zimmer expects the full-year, constant currency revenue to increase between 3.2% to 4.3% compared with the previous year. The company anticipates the full-year 2017 revenue to increase between 2% to 3%, a range of $7.835 billion to $7.915 billion, from full-year 2016. Zimmer reportedly estimated the revenue growth to be between 2.2% and 3.2%, or from $7.855 billion to $7.930 billion, compared to 2016. The company expects the full-year 2017 diluted earnings per share to be between $4.69 and $4.88

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