Zimmer Biomet Holdings Inc (NYSE:ZBH)

$ 104.54 3 (2.95%) Market Cap: 20.81 Bil Enterprise Value: 26.82 Bil PE Ratio: 19.87 PB Ratio: 1.69 GF Score: 80/100

Q3 2024 Zimmer Biomet Holdings Inc Earnings Call Transcript

Oct 30, 2024 / 12:30PM GMT

Release Date Price: $109.81 (+5.71%)

Transcript 10-Q8-K

Key Points

Positve

Zimmer Biomet Holdings Inc (ZBH) reported its 11th consecutive quarter of mid-single-digit or better constant currency revenue growth.
The company successfully managed ERP implementation challenges, expecting the impact to be lower than initially anticipated.
Strong performance in key segments such as knees and hips, with the U.S. hip business growing by almost 5% in Q3.
Zimmer Biomet Holdings Inc (ZBH) has a robust product pipeline with over 50 planned product launches, enhancing its competitive position.
Positive pricing trends were observed for the third consecutive quarter, indicating a favorable market environment.

Negative

ERP implementation challenges led to slower shipping levels, impacting sales in the second half of 2024.
The company updated its 2024 full-year guidance due to ERP-related headwinds, indicating potential revenue growth constraints.
The 'Other' category declined by 9.5% due to difficult comps and ERP-related challenges.
Gross margin is expected to be slightly down for the full year compared to 2023.
The company remains cautious about macroeconomic factors and potential disruptions, such as those caused by hurricanes and supply chain issues.

Operator

Good morning, ladies and gentlemen, and welcome to the Zimmer Biomet Third Quarter 2024 earnings conference call.

(Operator Instructions)

I would now like to turn the conference over to David DeMartino, Senior Vice President of Investor Relations.

Please go ahead.

David DeMartino

Zimmer Biomet Holdings Inc - Senior Vice President of Investor Relations

Thank you, operator, and good morning, everyone, and welcome to Zimmer Biomet's Third Quarter 2024 Earnings Conference Call.

Joining me on today's call are Ivan Tornos, our president, CEO. And CFO, Executive Vice President Finance Operations and supply chain, Suketu Upadhyay.

Before we get started, I'd like to remind you that our comments during this call will include forward-looking statements. Actual results may differ materially from those indicated by the forward-looking statements due to a variety of risks and uncertainties. Please note, we assume no obligation to update these forward-looking statements, even if actual results or future expectations change

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