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Zimmer sees strong 1st quarter
Earnings rise $700 million
SHERRY SLATER | The Journal Gazette
Zimmer Biomet Holdings Inc. on Tuesday reported first-quarter earnings of $198 million, or 94 cents per diluted common share, an increase of more than $700 million from the loss of $509 million, or $2.46 a share, in the first three months of 2020.
The Warsaw-based orthopedic devices manufacturer also reported net sales of $1.85 billion for the period ended March 31, a 4% increase from the same period last year.
Bryan Hanson, Zimmer Biomet s president and CEO, said the company s first-quarter performance was stronger than anticipated and aided by the vaccine rollout.
“As we move into the second quarter, we expect that momentum to continue and believe we are well-positioned to meet the needs of our customers as elective procedures return,” he said in a statement.
Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter ended March 31, 2021. The Company reported first quarter net sales of $1.847 billion, an increase of 3.6% over the prior year period, and an increase of 0.8% on a constant currency basis. Net earnings for the first quarter were $198.1 million, or $359.1 million on an adjusted basis.