Zimmer Biomet reports $2 billion in second-quarter net sales

Zimmer Biomet Holdings Inc. reported net sales of $2.008 billion for the second quarter of 2018, according to the company’s reported financial results. The second-quarter net sales showed a 3% increase from the prior year period and a 1% increase on a constant currency basis.

According to a company press release, Zimmer Biomet earned a net of $185 million in the second quarter and $392 million on an adjusted basis. The second-quarter operating cash flow was $393.3 million and free cash flow was $300.6 million.

Zimmer Biomet announced the second-quarter dividend was worth $0.24 per share and the company paid $48.8 million in dividends. Second-quarter diluted earnings per share did not increase compared to the prior year period, staying at $0.90. When adjusted, diluted earnings per share decreased 7.7% from the previous year period to $1.92.

“To continue building on our year-to-date progress, we will remain focused on strategies to support long-term, sustainable revenue growth and value-creation,” said Bryan Hanson, president and CEO of Zimmer Biomet. “These priorities include the completion of quality remediation activities, supply recovery efforts, new product introductions and the continuous enhancement of our culture.”

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