Zimmer Biomet Holdings (ZBH) Reports In-Line Q3 EPS

Zimmer Biomet Holdings (NYSE: ZBH) reported Q3 EPS of $1.79, in-line with the analyst estimate of $1.79. Revenue for the quarter came in at $1.83 billion versus the consensus estimate of $1.84 billion.

The Company updated its full-year 2016 constant currency revenue and adjusted earnings per share guidance. The Company now estimates full-year revenue to be in a range of $7.630 billion to $7.650 billion, an increase of approximately 27% on a reported basis, or 2.4% to 2.7% on an adjusted pro forma basis, in each case as compared to the prior year.

The Company now expects foreign currency translation to decrease revenue for the full year by approximately 0.3%, compared to its previous estimate of 0.5%. Revenue growth, excluding the contribution from LDR Holding Corporation, on a constant currency adjusted pro forma basis, is now expected to be in a range of 1.65% to 1.90% for the full year 2016. Previously, the Company estimated full-year revenue growth to be in a range of 2.5% to 3.0% on a similar basis.

Additionally, the Company now expects its full-year 2016 diluted earnings per share to be in a range of $1.50 to $1.60, and $7.90 to $7.95 on an adjusted basis. Previously, the Company estimated diluted earnings per share to be in a range of $1.50 to $1.75 on a reported basis, and $7.90 to $8.00 on an adjusted basis.

*** The Street sees FY16 EPS of $7.97 and revenue of $7.7 billion.

For earnings history and earnings-related data on Zimmer Biomet Holdings (ZBH) click here.

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