Reported Q: Q2 2024 Rev YoY: +3.9% EPS YoY: +18.0% Move: +1.72%
Zimmer Biomet Holdings
ZBH
$89.15 1.72%
Exchange NYSE Sector Healthcare Industry Medical Devices
Q2 2024
Published: Aug 7, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for ZBH

Reported

Report Date

Aug 7, 2024

Quarter Q2 2024

Revenue

1.94B

YoY: +3.9%

EPS

1.18

YoY: +18.0%

Market Move

+1.72%

Previous quarter: Q1 2024

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Earnings Highlights

  • Revenue of $1.94B up 3.9% year-over-year
  • EPS of $1.18 increased by 18% from previous year
  • Gross margin of 71.5%
  • Net income of 242.80M
  • ""The trend is real, the performance is there, and I'm deeply proud of the work that you're doing daily."" - Ivan Tornos
ZBH
Company ZBH

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Executive Summary

Zimmer Biomet delivered a solid QQ2 2024, reinforcing a multi-year growth trajectory across a diversified portfolio. Excluding FX, Q2 revenue rose 5.6% y/y to $1.94 billion, aided by strength in S.E.T., international markets, and a robust ROSA enabling technologies ecosystem. Management emphasized ongoing execution on the long-range plan: mid-single digit revenue growth, EPS growth of at least 1.5x revenue, and free cash flow outpacing EPS by at least 100 bps, with improvements in operating leverage supported by a restructuring program and productivity initiatives. The company highlighted meaningful progress in hip portfolio restoration (Z1 triple-taper stem, HAMMR surgical impactor, and advanced navigation) and asserted a pathway to regaining hip market share, complemented by a broader ROSA roadmap and new navigation modalities via OrthoGrid and Hip Insights partnerships. In the near term, Zimmer Biomet reiterated its 2024 guidance (5-6% constant-currency revenue growth; $8.00-$8.15 in adjusted EPS; $1.05b-$1.1b free cash flow) despite a higher USD headwind, signaling confidence in a stronger H2 cadence and continued ROSA penetration across geographies.

Key Performance Indicators

Revenue
Increasing
1.94B
QoQ: 2.79% | YoY: 3.87%
Gross Profit
Increasing
1.39B
71.49% margin
QoQ: 0.84% | YoY: 3.30%
Operating Income
Increasing
351.30M
QoQ: 32.12% | YoY: 6.58%
Net Income
Increasing
242.80M
QoQ: 40.84% | YoY: 15.84%
EPS
Increasing
1.18
QoQ: 40.48% | YoY: 18.00%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 1,909.10 0.91 +1.1% View
Q4 2024 2,023.20 1.20 +4.3% View
Q3 2024 1,824.20 1.23 +4.0% View
Q2 2024 1,942.00 1.18 +3.9% View
Q1 2024 1,889.20 0.84 +3.2% View