Zimmer Biomet reports second-quarter 2020 financial results
Zimmer Biomet Holdings Inc. reported its second-quarter 2020 financial performance was negatively impacted by the COVID-19 pandemic, including decreased net sales and earnings, according to a press release.
The company reported second-quarter net sales of $1.226 billion, a 38.3% decrease from the prior year period, a net loss of $206.6 million and an adjusted net earnings of $10.2 million, according to the release.
Zimmer Biomet also reported a diluted loss per share of $1 and an adjusted diluted earnings per share of $0.05, a 97.4% decrease from the prior year period.
“While we are encouraged by our operational performance and the stronger than expected recovery of elective procedures in the second quarter, the impact of COVID-19 is still significant and remains very fluid,” Bryan Hanson, president and CEO of Zimmer Biomet, said in the release. “Even in this time of ongoing challenge and uncertainty, we continue to reshape and evolve Zimmer Biomet for greater value and are investing aggressively in our primary growth initiatives and innovative research and development programs to better position us for growth over the long term. I am so proud of our global team for the support we continue to provide health care professionals and patients every day and our ongoing commitment to the Zimmer Biomet mission to better the lives of people around the world,” he added.