Zimmer Biomet Profit Dips
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Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) is reporting first quarter net income of $73 million, down from $193.4 million during the same period last year. Chief Executive Officer Bryan Hanson says the results are better than expected, driven by COVID recovery.
“This performance increases our confidence level for 2022 and we are raising and tightening our guidance accordingly,” said Hanson. “Our underlying business remains strong, fueled by innovation in our portfolio and an acceleration of our transformation activities. I continue to be proud of how the Zimmer Biomet team is executing against our mission so that we can serve healthcare providers and their patients while delivering value for shareholders.”
Earlier this year, the company completed the spinoff of ZimVie, Zimmer’s former spine and dental businesses.
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