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Zimmer Biomet Bottom Line Rises In Q2; Ups Annual Earnings Guidance - Update

(Adds Outlook)

Zimmer Biomet Holdings Inc. (ZBH) revealed a profit for its second quarter that increased from the same period last year

The company's bottom line came in at $153.7 million, or $0.73 per share. This compares with $141.9 million, or $0.67 per share, in last year's second quarter.

Excluding items, Zimmer Biomet Holdings Inc. reported adjusted earnings of $382.4 million or $1.82 per share for the period.

The company's revenue for the quarter rose 1.1% to $1.78 billion from $1.76 billion last year.

Outlook:

Zimmer Biomet increased its full-year earnings outlook to $6.70 - $6.90 a share from the previous $6.65 - $6.85 a share.

It also updated the revenue growth outlook to (1.0)% - 1.0% from the earlier (1.5)% - 0.5%.

Analysts on average expect the copmany to report annual earnings of $6.72 a share on revenue of 6.83 billion.

Zimmer Biomet Holdings Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $153.7 Mln. vs. $141.9 Mln. last year.
-EPS (Q2): $0.73 vs. $0.67 last year.
-Revenue (Q2): $1.78 Bln vs. $1.76 Bln last year.

-Guidance:
Full year EPS guidance: $6.70 - $6.90

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