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WARSAW, Ind. - Zimmer Biomet Holdings, Inc. (NYSE:ZBH) reported fourth quarter earnings that slightly exceeded analyst expectations, with revenue growth driven by strong performance across its product portfolio.
The medical device company posted adjusted earnings per share of $2.31 for Q4, edging past the analyst consensus of $2.30. Revenue for the quarter came in at $2.023 billion, up 4.3% YoY and ahead of estimates of $2.01 billion. On a constant currency basis, revenue increased 4.9% compared to the prior year period.
For the full year 2024, Zimmer Biomet reported net sales of $7.679 billion, representing a 3.8% increase YoY, or 4.8% growth on a constant currency basis. Full-year adjusted diluted EPS was $8.00.
"We are pleased with our fourth quarter results and strong performance to close 2024, delivering on our financial guidance and validating the solid work that the team is doing across the globe," said Ivan Tornos, Zimmer Biomet’s President and CEO.
Looking ahead, the company provided guidance for fiscal year 2025, projecting adjusted EPS in the range of $8.15 to $8.35. This outlook falls below the current analyst consensus of $8.55 per share.
Zimmer Biomet highlighted several recent developments, including its agreement to acquire Paragon 28, a foot and ankle orthopedics company, as part of its strategy to diversify beyond core orthopedics.
The company also received FDA approvals for new shoulder and knee implant systems during the quarter.
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